Illinois 102nd Regular Session Status: In Committee 1 R cosponsors

SB 2306 — PREDATORY LOAN-RATE CAP

Last action — Session Sine Die

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 102nd Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

If and only if Senate Bill 1792 of the 101st General Assembly becomes law, amends the Predatory Loan Prevention Act. In provisions concerning the purpose and construction of the Predatory Loan Prevention Act, provides that the purpose of the Act is to protect consumers from predatory loans consistent with federal law and the federal Truth in Lending Act (rather than the Military Lending Act). In provisions concerning an annual percentage rate cap, provides that the annual percentage rate shall be calculated as such rate is calculated using the system for calculating the annual percentage rate under the federal Truth in Lending Act, and its implementing regulations under Regulation Z of the Code of Federal Regulations (rather than a military annual percentage rate). Effective immediately or on the date Senate Bill 1792 of the 101st General Assembly takes effect, whichever is later.

Bill Text

Action History

  1. Session Sine Die

  2. Referred to Assignments

  3. First Reading

  4. Filed with Secretary by Sen. Sue Rezin

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 182 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (182)

182 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance civil-rights
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Frequently asked questions

What does SB 2306 do?
If and only if Senate Bill 1792 of the 101st General Assembly becomes law, amends the Predatory Loan Prevention Act. In provisions concerning the purpose and construction of the Predatory Loan Prevention Act, provides that the purpose of the Act is to protect consumers from predatory loans consistent with federal law and the federal Truth in Lending Act (rather than the Military Lending Act). In provisions concerning an annual percentage rate cap, provides that the annual percentage rate shall be calculated as such rate is calculated using the system for calculating the annual percentage rate under the federal Truth in Lending Act, and its implementing regulations under Regulation Z of the Code of Federal Regulations (rather than a military annual percentage rate). Effective immediately or on the date Senate Bill 1792 of the 101st General Assembly takes effect, whichever is later.
Who sponsors SB 2306?
SB 2306 is sponsored by Sue Rezin (Republican).
What is the current status of SB 2306?
This bill died with 102nd Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 2306?
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Last checked for changes 3 months ago · updated continuously

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