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7 (Section scheduled to be repealed on January 1, 2026)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.