Bill Text: IL HB2088 | 2015-2016 | 99th General Assembly | Introduced

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Bill Title: Amends the Interest Act. Makes a technical change in a Section concerning the adoption of certain rules.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2015-04-24 - Rule 19(a) / Re-referred to Rules Committee [HB2088 Detail]

Download: Illinois-2015-HB2088-Introduced.html

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99TH GENERAL ASSEMBLY State of Illinois 2015 and 2016 HB2088 Introduced , by Rep. Jim Durkin SYNOPSIS AS INTRODUCED:
815 ILCS 205/4b from Ch. 17, par. 6411
Amends the Interest Act. Makes a technical change in a Section concerning the adoption of certain rules.
LRB099 08477 JWD 28633 b
A BILL FOR
HB2088 LRB099 08477 JWD 28633 b
AN ACT concerning business.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Interest Act is amended by changing Section
4b as follows:
(815 ILCS 205/4b) (from Ch. 17, par. 6411)
Sec. 4b. In order to assure compliance with applicable
Federal law, any State agency having chartering or licensing
powers or regulatory or supervisory authority over a class of
creditors affected by this Act may promulgate rules and and
regulations to carry out the disclosure and other requirements
pertaining to the extension of credit under this Act and the
advertising of such extensions of credit.
(Source: P.A. 76-1775.)