Bill Text: IL SB1712 | 2023-2024 | 103rd General Assembly | Introduced


Bill Title: Amends the Collection Agency Act by changing references to the General Professions Dedicated Fund to refer to the Financial Institution Fund. Provides that after the effective date of the amendatory Act, the Department of Financial and Professional Regulation may transfer any fees collected under the Collection Agency Act from the General Professions Dedicated Fund to the Financial Institution Fund. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2023-02-09 - Referred to Assignments [SB1712 Detail]

Download: Illinois-2023-SB1712-Introduced.html


103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
SB1712

Introduced 2/9/2023, by Sen. Laura Ellman

SYNOPSIS AS INTRODUCED:
225 ILCS 425/4.5
225 ILCS 425/8a from Ch. 111, par. 2011a

Amends the Collection Agency Act by changing references to the General Professions Dedicated Fund to refer to the Financial Institution Fund. Provides that after the effective date of the amendatory Act, the Department of Financial and Professional Regulation may transfer any fees collected under the Collection Agency Act from the General Professions Dedicated Fund to the Financial Institution Fund. Effective immediately.
LRB103 28284 BMS 54663 b

A BILL FOR

SB1712LRB103 28284 BMS 54663 b
1 AN ACT concerning regulation.
2 Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4 Section 5. The Collection Agency Act is amended by
5changing Sections 4.5 and 8a as follows:
6 (225 ILCS 425/4.5)
7 (Section scheduled to be repealed on January 1, 2026)
8 Sec. 4.5. Unlicensed practice; violation; civil penalty.
9 (a) Any person who practices, offers to practice, attempts
10to practice, or holds oneself out to practice as a collection
11agency without being licensed under this Act shall, in
12addition to any other penalty provided by law, pay a civil
13penalty to the Department in an amount not to exceed $10,000
14for each offense as determined by the Department. The civil
15penalty shall be assessed by the Department after a hearing is
16held in accordance with the provisions set forth in this Act
17regarding the provision of a hearing for the discipline of a
18licensee.
19 (b) The Department has the authority and power to
20investigate any and all unlicensed activity. In addition to
21taking any other action provided under this Act, whenever the
22Department has reason to believe a person has violated any
23provision of subsection (a) of this Section, the Department

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1may issue a rule to show cause why an order to cease and desist
2should not be entered against that person. The rule shall
3clearly set forth the grounds relied upon by the Department
4and shall provide a period of 7 days from the date of the rule
5to file an answer to the satisfaction of the Department.
6Failure to answer to the satisfaction of the Department shall
7cause an order to cease and desist to be issued immediately.
8 (c) The civil penalty shall be paid within 60 days after
9the effective date of the order imposing the civil penalty.
10The order shall constitute a judgment and may be filed and
11execution had thereon in the same manner as any judgment from
12any court of record.
13 (d) All moneys collected under this Section shall be
14deposited into the Financial Institution General Professions
15Dedicated Fund.
16(Source: P.A. 99-227, eff. 8-3-15.)
17 (225 ILCS 425/8a) (from Ch. 111, par. 2011a)
18 (Section scheduled to be repealed on January 1, 2026)
19 Sec. 8a. Fees.
20 (a) The fees for the administration and enforcement of
21this Act, including but not limited to original licensure,
22renewal, and restoration, shall be set by the Department by
23rule. All fees are nonrefundable.
24 (b) All fees collected under this Act by the Department
25shall be deposited into the Financial Institution General

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1Professions Dedicated Fund and shall be appropriated to the
2Department for the ordinary and contingent expenses of the
3Department in the administration of this Act. After the
4effective date of this amendatory Act of the 103rd General
5Assembly, the Department may transfer any fees collected under
6this Act from the General Professions Dedicated Fund to the
7Financial Institution Fund.
8 (c) The administration fee charged by the multi-state
9licensing system shall be paid directly to the multi-state
10licensing system.
11(Source: P.A. 99-227, eff. 8-3-15; 100-132, eff. 8-18-17.)
12 Section 99. Effective date. This Act takes effect upon
13becoming law.
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