Illinois House Bill 2717

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Completed Legislative Action
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: Passed on July 28 2023 - 100% progression
Action: 2023-07-28 - Public Act . . . . . . . . . 103-0322
Text: Latest bill text (Chaptered) [HTML]

Amends the Mortgage Escrow Account Act. Provides that a mortgage lender that complies with the escrow account requirements in Title 12 CFR Part 1026 for a mortgage loan that is a higher-priced mortgage loan is deemed to be in compliance with a provision regarding notification by a mortgage lender to a borrower about terminating or continuing such escrow account. Provides that the borrower shall not have the right to terminate any escrow account arrangement in conjunction with a mortgage loan that is a higher-priced mortgage loan unless the borrower has met all of the conditions for cancellation of an escrow account for a higher-priced mortgage loan in Title 12 CFR Part 1026. Effective immediately.

MORTGAGE ESCROW-COMPLIANCE

Rep. Edgar Gonzalez [D]

Sen. Ram Villivalam [D]

Sen. Jason Plummer [R]

Sen. Michael Hastings [D]

2023-05-11 - Senate - Motion in Senate (Y: 56 N: 0 NV: 3 Abs: 0) [PASS]
2023-03-23 - House - Third Reading in House (Y: 108 N: 0 NV: 0 Abs: 1) [PASS]

Date	Chamber	Action
2023-07-28	House	Public Act . . . . . . . . . 103-0322
2023-07-28	House	Effective Date July 28, 2023
2023-07-28	House	Governor Approved
2023-06-09	House	Sent to the Governor
2023-05-11	House	Passed Both Houses
2023-05-11	Senate	Third Reading - Passed; 056-000-000
2023-05-05	Senate	Placed on Calendar Order of 3rd Reading ** May 8, 2023
2023-05-04	Senate	Added as Alternate Co-Sponsor Sen. Michael E. Hastings
2023-04-28	Senate	Added as Alternate Chief Co-Sponsor Sen. Jason Plummer
2023-04-27	Senate	Placed on Calendar Order of 3rd Reading May 2, 2023
2023-04-27	Senate	Second Reading
2023-04-26	Senate	Placed on Calendar Order of 2nd Reading April 27, 2023
2023-04-26	Senate	Do Pass Financial Institutions; 007-000-000
2023-04-18	Senate	Assigned to Financial Institutions
2023-03-27	Senate	Referred to Assignments
2023-03-27	Senate	First Reading
2023-03-27	Senate	Chief Senate Sponsor Sen. Ram Villivalam
2023-03-27	Senate	Placed on Calendar Order of First Reading
2023-03-27	Senate	Arrive in Senate
2023-03-23	House	Third Reading - Short Debate - Passed 108-000-000
2023-03-15	House	Placed on Calendar Order of 3rd Reading - Short Debate
2023-03-15	House	Second Reading - Short Debate
2023-03-08	House	Placed on Calendar 2nd Reading - Short Debate
2023-03-07	House	Do Pass / Short Debate Financial Institutions and Licensing Committee; 012-000-000
2023-02-28	House	Assigned to Financial Institutions and Licensing Committee
2023-02-16	House	Referred to Rules Committee
2023-02-16	House	First Reading
2023-02-15	House	Filed with the Clerk by Rep. Edgar Gonzalez, Jr.

Chapter	Article	Section	Citation Type	Statute Text
765	910	5	Amended Code	Citation Text
765	910	7	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2717&GAID=17&DocTypeID=HB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/HB/10300HB2717.htm
Text	https://www.ilga.gov/legislation/103/HB/10300HB2717eng.htm
Text	https://www.ilga.gov/legislation/103/HB/10300HB2717enr.htm
Text	https://www.ilga.gov/legislation/publicacts/103/103-0322.htm
Roll Call	https://www.ilga.gov/legislation/votehistory/103/house/10300HB2717_03232023_096000T.pdf
Roll Call	https://www.ilga.gov/legislation/votehistory/103/senate/10300HB2717_05112023_001055.pdf