IL HB5907 | 2015-2016 | 99th General Assembly
Status
Spectrum: Slight Partisan Bill (Democrat 4-2)
Status: Engrossed on April 21 2016 - 50% progression, died in chamber
Action: 2017-01-10 - Senate Floor Amendment No. 1 Postponed - State Government and Veterans Affairs
Text: Latest bill text (Engrossed) [HTML]
Status: Engrossed on April 21 2016 - 50% progression, died in chamber
Action: 2017-01-10 - Senate Floor Amendment No. 1 Postponed - State Government and Veterans Affairs
Text: Latest bill text (Engrossed) [HTML]
Summary
Creates the Guaranteed Asset Protection Waiver Act. Establishes standards to regulate persons offering guaranteed asset protection waivers. Provides for a period of time of at least 30 days from the effective date of the guaranteed asset protection waiver until the date the borrower may cancel the contract without penalty, fees, or costs to the borrower. Amends the Illinois Insurance Code to exempt guaranteed asset protection waivers from regulation as insurance.
Title
ASSET PROTECTION WAIVERS
Sponsors
| Rep. Anthony DeLuca [D] | Rep. Ed Sullivan [R] | Rep. Elizabeth Hernandez [D] | Rep. Norine Hammond [R] |
| Rep. Eddie Jackson [D] | Sen. Don Harmon [D] |
Roll Calls
2016-04-21 - House - Third Reading in House (Y: 112 N: 0 NV: 2 Abs: 1) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2017-01-10 | Senate | Senate Floor Amendment No. 1 Postponed - State Government and Veterans Affairs |
| 2017-01-09 | Senate | Senate Floor Amendment No. 1 Assignments Refers to State Government and Veterans Affairs |
| 2017-01-09 | Senate | Senate Floor Amendment No. 1 Referred to Assignments |
| 2017-01-09 | Senate | Senate Floor Amendment No. 1 Filed with Secretary by Sen. Don Harmon |
| 2017-01-09 | Senate | Placed on Calendar Order of 3rd Reading January 10, 2017 |
| 2017-01-09 | Senate | Approved for Consideration Assignments |
| 2017-01-09 | Senate | Rule 2-10 Committee/3rd Reading Deadline Established As January 10, 2017 |
| 2017-01-01 | Senate | Pursuant to Senate Rule 3-9(b) / Referred to Assignments |
| 2016-11-29 | Senate | Rule 2-10 Committee/3rd Reading Deadline Established As December 31, 2016 |
| 2016-11-29 | Senate | Placed on Calendar Order of 3rd Reading November 30, 2016 |
| 2016-11-29 | Senate | Second Reading |
| 2016-11-29 | Senate | Alternate Chief Sponsor Changed to Sen. Don Harmon |
| 2016-11-29 | Senate | Placed on Calendar Order of 2nd Reading November 29, 2016 |
| 2016-11-29 | Senate | Approved for Consideration Assignments |
| 2016-05-27 | Senate | Rule 3-9(a) / Re-referred to Assignments |
| 2016-05-13 | Senate | Rule 2-10 Committee Deadline Established As May 27, 2016 |
| 2016-05-11 | Senate | Postponed - Financial Institutions |
| 2016-05-03 | Senate | Assigned to Financial Institutions |
| 2016-04-22 | Senate | Referred to Assignments |
| 2016-04-22 | Senate | First Reading |
| 2016-04-21 | Senate | Chief Senate Sponsor Sen. Michael E. Hastings |
| 2016-04-21 | Senate | Placed on Calendar Order of First Reading April 22, 2016 |
| 2016-04-21 | Senate | Arrive in Senate |
| 2016-04-21 | House | Third Reading - Short Debate - Passed 112-000-001 |
| 2016-04-20 | House | Added Chief Co-Sponsor Rep. Eddie Lee Jackson, Sr. |
| 2016-04-20 | House | Added Chief Co-Sponsor Rep. Norine K. Hammond |
| 2016-04-20 | House | Added Chief Co-Sponsor Rep. Elizabeth Hernandez |
| 2016-04-20 | House | Added Chief Co-Sponsor Rep. Ed Sullivan |
| 2016-04-20 | House | Placed on Calendar Order of 3rd Reading - Short Debate |
| 2016-04-20 | House | House Floor Amendment No. 2 Adopted |
| 2016-04-19 | House | House Floor Amendment No. 2 Recommends Be Adopted Consumer Protection Committee; 015-000-000 |
| 2016-04-15 | House | Held on Calendar Order of Second Reading - Short Debate |
| 2016-04-15 | House | Second Reading - Short Debate |
| 2016-04-15 | House | House Floor Amendment No. 2 Rules Refers to Consumer Protection Committee |
| 2016-04-13 | House | House Floor Amendment No. 2 Referred to Rules Committee |
| 2016-04-13 | House | House Floor Amendment No. 2 Filed with Clerk by Rep. Anthony DeLuca |
| 2016-04-05 | House | Placed on Calendar 2nd Reading - Short Debate |
| 2016-04-04 | House | House Committee Amendment No. 1 Tabled Pursuant to Rule 40 |
| 2016-04-04 | House | Do Pass / Short Debate Consumer Protection Committee; 016-000-000 |
| 2016-03-28 | House | House Committee Amendment No. 1 Referred to Rules Committee |
| 2016-03-28 | House | House Committee Amendment No. 1 Filed with Clerk by Rep. Anthony DeLuca |
| 2016-03-23 | House | Assigned to Consumer Protection Committee |
| 2016-02-11 | House | Referred to Rules Committee |
| 2016-02-11 | House | First Reading |
| 2016-02-11 | House | Filed with the Clerk by Rep. Anthony DeLuca |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 215 | 5 | 2.5 | Amended Code | Citation Text |
