IL HB0537 | 2009-2010 | 96th General Assembly
Status
Completed Legislative Action
Spectrum: Strong Partisan Bill (Democrat 29-2)
Status: Passed on June 21 2010 - 100% progression
Action: 2010-06-21 - Public Act . . . . . . . . . 96-0936
Text: Latest bill text (Enrolled) [HTML]
Spectrum: Strong Partisan Bill (Democrat 29-2)
Status: Passed on June 21 2010 - 100% progression
Action: 2010-06-21 - Public Act . . . . . . . . . 96-0936
Text: Latest bill text (Enrolled) [HTML]
Summary
Amends the Residential Mortgage License Act of 1987. Provides that no licensee may make, provide, or arrange a mortgage loan with a prepayment penalty (rather than permitting prepayment penalties under specified conditions). Provides that prepayment penalties are prohibited in connection with the sale or destruction of a dwelling secured by a residential mortgage loan. Amends the High Risk Home Loan Act to provide that for any loan that is subject to the provisions of the Act and is not subject to the provisions of the Home Ownership and Equity Protection Act of 1994, no lender shall make a high risk home loan that includes a penalty provision (rather than permitting prepayment penalties under specified conditions). Amends the Interest Act. Deletes a provision providing that notwithstanding specified provisions, the lender, in the case of any nonexempt residential mortgage loan, shall have the right to include a prepayment penalty that meets specified criteria.
Title
PROHIB PREPAYMENT PENALTIES
Sponsors
Roll Calls
2010-05-26 - House - Concurrence in House (Y: 108 N: 1 NV: 1 Abs: 0) [PASS]
2010-05-05 - Senate - Third Reading in Senate (Y: 58 N: 1 NV: 0 Abs: 0) [PASS]
2009-04-03 - House - Third Reading in House (Y: 65 N: 49 NV: 4 Abs: 0) [PASS]
2010-05-05 - Senate - Third Reading in Senate (Y: 58 N: 1 NV: 0 Abs: 0) [PASS]
2009-04-03 - House - Third Reading in House (Y: 65 N: 49 NV: 4 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2010-06-21 | Public Act . . . . . . . . . 96-0936 | |
| 2010-06-21 | Effective Date March 21, 2011 | |
| 2010-06-21 | Governor Approved | |
| 2010-06-17 | Sent to the Governor | |
| 2010-05-26 | Added Co-Sponsor Rep. Eddie Lee Jackson, Sr. | |
| 2010-05-26 | Added Co-Sponsor Rep. Esther Golar | |
| 2010-05-26 | Added Co-Sponsor Rep. Sandra M. Pihos | |
| 2010-05-26 | Added Co-Sponsor Rep. John D'Amico | |
| 2010-05-26 | Added Co-Sponsor Rep. Maria Antonia Berrios | |
| 2010-05-26 | Added Co-Sponsor Rep. Luis Arroyo | |
| 2010-05-26 | Added Co-Sponsor Rep. Susana A. Mendoza | |
| 2010-05-26 | Added Co-Sponsor Rep. Edward J. Acevedo | |
| 2010-05-26 | Added Co-Sponsor Rep. Elizabeth Hernandez | |
| 2010-05-26 | Added Co-Sponsor Rep. Paul D. Froehlich | |
| 2010-05-26 | Added Co-Sponsor Rep. Cynthia Soto | |
| 2010-05-26 | Passed Both Houses | |
| 2010-05-26 | Senate Floor Amendment No. 4 House Concurs 108-001-001 | |
| 2010-05-26 | Senate Floor Amendment No. 3 House Concurs 108-001-001 | |
| 2010-05-26 | Senate Floor Amendment No. 2 House Concurs 108-001-001 | |
| 2010-05-26 | Senate Committee Amendment No. 1 House Concurs 108-001-001 | |
| 2010-05-25 | Added Co-Sponsor Rep. Robert F. Flider | |
| 2010-05-24 | Senate Floor Amendment No. 4 Motion to Concur Recommends Be Adopted Executive Committee; 010-000-000 | |
| 2010-05-24 | Senate Floor Amendment No. 3 Motion to Concur Recommends Be Adopted Executive Committee; 010-000-000 | |
| 2010-05-24 | Senate Floor Amendment No. 2 Motion to Concur Recommends Be Adopted Executive Committee; 010-000-000 | |
| 2010-05-24 | Senate Committee Amendment No. 1 Motion to Concur Recommends Be Adopted Executive Committee; 010-000-000 | |
| 2010-05-07 | Senate Floor Amendment No. 4 Motion to Concur Rules Referred to Executive Committee | |
| 2010-05-07 | Senate Floor Amendment No. 3 Motion to Concur Rules Referred to Executive Committee | |
| 2010-05-07 | Senate Floor Amendment No. 2 Motion to Concur Rules Referred to Executive Committee | |
| 2010-05-07 | Senate Committee Amendment No. 1 Motion to Concur Rules Referred to Executive Committee | |
| 2010-05-06 | Added Chief Co-Sponsor Rep. Monique D. Davis | |
| 2010-05-06 | Added Co-Sponsor Rep. Kenneth Dunkin | |
| 2010-05-06 | Remove Chief Co-Sponsor Rep. Kenneth Dunkin | |
| 2010-05-06 | Added Co-Sponsor Rep. Karen A. Yarbrough | |
| 2010-05-06 | Added Co-Sponsor Rep. Patricia R. Bellock | |
| 2010-05-06 | Added Co-Sponsor Rep. Camille Y Lilly | |
| 2010-05-06 | Added Co-Sponsor Rep. Marlow H. Colvin | |
| 2010-05-06 | Added Co-Sponsor Rep. Elaine Nekritz | |
| 2010-05-06 | Added Co-Sponsor Rep. Al Riley | |
| 2010-05-06 | Added Co-Sponsor Rep. Joseph M. Lyons | |
| 2010-05-06 | Senate Floor Amendment No. 4 Motion to Concur Referred to Rules Committee | |
| 2010-05-06 | Senate Floor Amendment No. 3 Motion to Concur Referred to Rules Committee | |
| 2010-05-06 | Senate Floor Amendment No. 2 Motion to Concur Referred to Rules Committee | |
| 2010-05-06 | Senate Committee Amendment No. 1 Motion to Concur Referred to Rules Committee | |
| 2010-05-06 | Senate Floor Amendment No. 4 Motion Filed Concur Rep. Lou Lang | |
| 2010-05-06 | Senate Floor Amendment No. 3 Motion Filed Concur Rep. Lou Lang | |
| 2010-05-06 | Senate Floor Amendment No. 2 Motion Filed Concur Rep. Lou Lang | |
| 2010-05-06 | Senate Committee Amendment No. 1 Motion Filed Concur Rep. Lou Lang | |
| 2010-05-05 | Chief Sponsor Changed to Rep. Lou Lang | |
| 2010-05-05 | Placed on Calendar Order of Concurrence Senate Amendment(s) 1, 2, 3, 4 | |
| 2010-05-05 | Arrived in House | |
| 2010-05-05 | Third Reading - Passed; 058-001-000 | |
| 2010-05-05 | Added as Alternate Co-Sponsor Sen. Mattie Hunter | |
| 2010-05-05 | Added as Alternate Co-Sponsor Sen. Toi W. Hutchinson | |
| 2010-05-05 | Added as Alternate Chief Co-Sponsor Sen. Emil Jones, III | |
| 2010-05-05 | Placed on Calendar Order of 3rd Reading | |
| 2010-05-05 | Senate Floor Amendment No. 4 Adopted; Lightford | |
| 2010-05-05 | Senate Floor Amendment No. 3 Adopted; Lightford | |
| 2010-05-05 | Senate Floor Amendment No. 2 Adopted; Lightford | |
| 2010-05-05 | Recalled to Second Reading | |
| 2010-05-05 | Added as Alternate Chief Co-Sponsor Sen. Dan Rutherford | |
| 2010-05-05 | Senate Floor Amendment No. 4 Be Approved for Consideration Assignments | |
| 2010-05-05 | Senate Floor Amendment No. 3 Recommend Do Adopt Executive; 013-000-000 | |
| 2010-05-05 | Senate Floor Amendment No. 4 Referred to Assignments | |
| 2010-05-05 | Senate Floor Amendment No. 4 Filed with Secretary by Sen. Kimberly A. Lightford | |
| 2010-05-05 | Senate Floor Amendment No. 3 Assignments Refers to Executive | |
| 2010-05-05 | Senate Floor Amendment No. 3 Referred to Assignments | |
| 2010-05-05 | Senate Floor Amendment No. 3 Filed with Secretary by Sen. Kimberly A. Lightford | |
| 2010-05-05 | Added as Alternate Chief Co-Sponsor Sen. Heather Steans | |
| 2010-05-05 | Added as Alternate Chief Co-Sponsor Sen. Jacqueline Y. Collins | |
| 2010-05-05 | Senate Floor Amendment No. 2 Recommend Do Adopt Financial Institutions; 010-000-000 | |
| 2010-05-04 | Senate Floor Amendment No. 2 Assignments Refers to Financial Institutions | |
| 2010-05-04 | Senate Floor Amendment No. 2 Referred to Assignments | |
| 2010-05-04 | Senate Floor Amendment No. 2 Filed with Secretary by Sen. Kimberly A. Lightford | |
| 2010-05-03 | Alternate Chief Sponsor Changed to Sen. Kimberly A. Lightford | |
| 2010-04-30 | Placed on Calendar Order of 3rd Reading May 3, 2010 | |
| 2010-04-30 | Second Reading | |
| 2010-04-28 | Placed on Calendar Order of 2nd Reading April 29, 2010 | |
| 2010-04-28 | Do Pass as Amended Executive; 008-001-004 | |
| 2010-04-28 | Senate Committee Amendment No. 1 Adopted | |
| 2010-04-28 | Senate Committee Amendment No. 1 Assignments Refers to Executive | |
| 2010-04-28 | Senate Committee Amendment No. 1 Referred to Assignments | |
| 2010-04-28 | Senate Committee Amendment No. 1 Filed with Secretary by Sen. John J. Cullerton | |
| 2010-04-27 | Alternate Chief Sponsor Changed to Sen. John J. Cullerton | |
| 2010-04-23 | Rule 2-10 Committee Deadline Established As May 7, 2010 | |
| 2010-04-22 | Re-assigned to Executive | |
| 2009-05-12 | Sponsor Removed Sen. Don Harmon | |
| 2009-05-08 | Rule 3-9(a) / Re-referred to Assignments | |
| 2009-05-07 | Held in Financial Institutions | |
| 2009-04-30 | Held in Financial Institutions | |
| 2009-04-29 | Alternate Chief Sponsor Changed to Sen. Ira I. Silverstein | |
| 2009-04-22 | Assigned to Financial Institutions | |
| 2009-04-15 | Referred to Assignments | |
| 2009-04-15 | First Reading | |
| 2009-04-15 | Added as Alternate Chief Co-Sponsor Sen. Don Harmon | |
| 2009-04-15 | Chief Senate Sponsor Sen. John J. Cullerton | |
| 2009-04-15 | Placed on Calendar Order of First Reading | |
| 2009-04-15 | Arrive in Senate | |
| 2009-04-03 | Added Co-Sponsor Rep. Jehan A. Gordon | |
| 2009-04-03 | Added Co-Sponsor Rep. Annazette Collins | |
| 2009-04-03 | Third Reading - Standard Debate - Passed 065-049-001 | |
| 2009-04-03 | Added Co-Sponsor Rep. Deborah L. Graham | |
| 2009-03-26 | Added Co-Sponsor Rep. Patrick J. Verschoore | |
| 2009-03-26 | Added Chief Co-Sponsor Rep. Kenneth Dunkin | |
| 2009-03-26 | Added Chief Co-Sponsor Rep. Careen M. Gordon | |
| 2009-03-25 | Placed on Calendar Order of 3rd Reading - Standard Debate | |
| 2009-03-25 | Second Reading - Standard Debate | |
| 2009-03-23 | Added Co-Sponsor Rep. Emily McAsey | |
| 2009-03-11 | Placed on Calendar 2nd Reading - Standard Debate | |
| 2009-03-10 | Do Pass / Standard Debate Consumer Protection Committee; 008-006-000 | |
| 2009-02-09 | Assigned to Consumer Protection Committee | |
| 2009-02-04 | Referred to Rules Committee | |
| 2009-02-04 | First Reading | |
| 2009-02-04 | Chief Co-Sponsor Rep. Fred Crespo | |
| 2009-02-04 | Chief Co-Sponsor Rep. Keith Farnham | |
| 2009-02-04 | Filed with the Clerk by Rep. Charles E. Jefferson |
