Illinois 104th General Assembly Status: Introduced 3 D cosponsors

HB4302      — INTEREST-PREPAYMENT PENALTY

Last action — Rule 19(a) / Re-referred to Rules Committee

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

This bill has been introduced in the House. Introduced January 06, 2026. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Prognosis

Not enough signal yet

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

Not enough signal yet to read this bill's trajectory — we surface a likelihood only once there's real movement (stage, sponsorship, committee, or votes) to point to.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

Amends the Interest Act. Provides that, whenever the rate of interest exceeds an annual percentage rate of 8% on any written contract, agreement or bond for deed providing for the installment purchase of residential real estate made primarily for personal, family, or household purposes (rather than for the installment purchase of residential real estate), or on any loan secured by a mortgage on residential real estate made primarily for personal, family, or household purposes (rather than on any loan secured by a mortgage on residential real estate), it shall be unlawful to provide for a prepayment penalty or other charge for prepayment.

Bill Text

We don't have the full text on file for this bill yet.

Read HB4302 on the official Illinois source →

Action History

  1. Rule 19(a) / Re-referred to Rules Committee

  2. Assigned to Financial Institutions and Licensing Committee

  3. Added Co-Sponsor Rep. Michael J. Kelly

  4. Added Co-Sponsor Rep. Rick Ryan

  5. Referred to Rules Committee

  6. First Reading

  7. Filed with the Clerk by Rep. Daniel Didech

Sponsors

Sponsorship breakdown

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1 sponsors · 2 co-sponsors · 180 not signed on

Sponsors (1)

Co-sponsors (2)

Not signed on (180)

180 members have not signed on to this bill.

Show all 180 →

"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 housing
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HB4302      do?
Amends the Interest Act. Provides that, whenever the rate of interest exceeds an annual percentage rate of 8% on any written contract, agreement or bond for deed providing for the installment purchase of residential real estate made primarily for personal, family, or household purposes (rather than for the installment purchase of residential real estate), or on any loan secured by a mortgage on residential real estate made primarily for personal, family, or household purposes (rather than on any loan secured by a mortgage on residential real estate), it shall be unlawful to provide for a prepayment penalty or other charge for prepayment.
Who sponsors HB4302     ?
HB4302      is sponsored by Daniel Didech (Democrat), Rick Ryan (Democrat), and Michael J. Kelly (Democrat).
What is the current status of HB4302     ?
This bill has been introduced in the House. Introduced January 06, 2026. It must pass committee before a floor vote.
Where can I track HB4302     ?
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Last checked for changes 3 months ago · updated continuously

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