Bill Amendment: IL SB2121 | 2023-2024 | 103rd General Assembly

NOTE: For additional amemendments please see the Bill Drafting List

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Bill Title: BUSINESS-CREDIT ACCOUNT REPORT

Status: 2023-06-26 - Senate Floor Amendment No. 1 Pursuant to Senate Rule 3-9(b) / Referred to Assignments [SB2121 Detail]

Download: Illinois-2023-SB2121-Senate_Amendment_003.html

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Sen. Elgie R. Sims, Jr.

Filed: 3/30/2023

10300SB2121sam003 LRB103 28968 BMS 60285 a
AMENDMENT TO SENATE BILL 2121
AMENDMENT NO. ______. Amend Senate Bill 2121 by replacing
everything after the enacting clause with the following:
"Section 5. The Credit Card Marketing Act of 2009 is
amended by adding Section 45 as follows:
(110 ILCS 26/45 new)
Sec. 45. Credit card closure. If a credit card issuer is
party to a private label credit program as defined in Section
48.1 of the Illinois Banking Act and closes a customer's
credit card due to inactivity, the credit card issuer shall
notify the customer and the credit reporting agencies in
writing of the closure due to inactivity. This Section applies
to any credit card issued under a private label credit program
as defined in Section 48.1 of the Illinois Banking Act and is
not limited to credit card relationships involving an
institution of higher education.".