Illinois House Bill 5031

---

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 7 2024 - 25% progression
Action: 2024-04-19 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Engrossed) [HTML]

Amends the Consumer Legal Funding Act. Provides that, notwithstanding any other law, a consumer legal funding may be refinanced as authorized by rule. Provides that the Department of Financial and Professional Regulation shall publish first notice of a rule concerning the refinancing of consumer legal fundings in the Illinois Register in accordance with the Illinois Administrative Procedure Act within 120 days after the effective date of the amendatory Act. Authorizes the Department to adopt rules to permit the refinancing of consumer legal fundings. Makes conforming changes to contract disclosures.

CONSUMER LEGAL-REFINANCING

Rep. Curtis Tarver [D]

Date	Chamber	Action
2024-04-19	House	Rule 19(a) / Re-referred to Rules Committee
2024-04-12	House	Placed on Calendar Order of 3rd Reading - Short Debate
2024-04-12	House	Second Reading - Short Debate
2024-03-06	House	Placed on Calendar 2nd Reading - Short Debate
2024-03-05	House	Do Pass / Short Debate Financial Institutions and Licensing Committee; 007-004-000
2024-02-28	House	Assigned to Financial Institutions and Licensing Committee
2024-02-08	House	Referred to Rules Committee
2024-02-08	House	First Reading
2024-02-07	House	Filed with the Clerk by Rep. Curtis J. Tarver, II

Chapter	Article	Section	Citation Type	Statute Text
815	121	165	Amended Code	Citation Text
815	121	25	Amended Code	Citation Text
815	121	30	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=5031&GAID=17&DocTypeID=HB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/HB/10300HB5031.htm
Text	https://www.ilga.gov/legislation/103/HB/10300HB5031eng.htm