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

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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

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(Section scheduled to be repealed on January 1, 2026)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

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(Section scheduled to be repealed on January 1, 2026)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

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