Illinois House Bill 2795 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on December 3 2014 - 100% progression
Action: 2014-12-03 - Session Sine Die
Text: Latest bill text (Amended) [HTML]

Amends the Payday Loan Reform Act. Imposes a surcharge upon each lender in an amount equal to $1 for each payday loan made by that lender. Provides that the moneys collected from the surcharge shall be deposited into the Small Loan Community Reinvestment Fund, less 2% of those proceeds, which shall be paid into the Tax Compliance and Administration Fund. Amends the State Finance Act to create the Small Loan Community Reinvestment Fund. Provides that moneys in the Fund shall be used by the Department of Commerce and Economic Opportunity to make grants to not-for-profit organizations dedicated to educational tutoring and development, financial literacy, early childhood development, youth mentoring, and senior services.

PAYDAY LOAN SURCHARGE

Sen. Elgie Sims [D]

Date	Chamber	Action
2014-12-03	House	Session Sine Die
2013-03-22	House	House Committee Amendment No. 1 Rule 19(a) / Re-referred to Rules Committee
2013-03-22	House	Rule 19(a) / Re-referred to Rules Committee
2013-03-13	House	House Committee Amendment No. 1 Rules Refers to Consumer Protection Committee
2013-03-11	House	House Committee Amendment No. 1 Referred to Rules Committee
2013-03-11	House	House Committee Amendment No. 1 Filed with Clerk by Rep. Elgie R. Sims, Jr.
2013-03-04	House	Assigned to Consumer Protection Committee
2013-02-26	House	Referred to Rules Committee
2013-02-26	House	First Reading
2013-02-22	House	Filed with the Clerk by Rep. Elgie R. Sims, Jr.

Chapter	Article	Section	Citation Type	Statute Text
30	105	5.826	New Code	See Bill Text
30	105	6z-98	New Code	See Bill Text
815	122	4-17	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2795&GAID=12&DocTypeID=HB&SessionID=85&GA=98
Text	https://www.ilga.gov/legislation/98/HB/09800HB2795.htm
Text	https://www.ilga.gov/legislation/98/HB/09800HB2795ham001.htm