UNIFORM VOIDABLE TRANSACTIONS
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HB0030 — UNIFORM VOIDABLE TRANSACTIONS
Last action — Rule 19(a) / Re-referred to Rules Committee
No card. One bill, free forever — alerts when it moves.
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1Introduced
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2In Committee
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3Passed House
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4Passed Senate
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5To Executive
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6Enacted
This bill has been introduced in the House. Introduced December 05, 2024. It must pass committee before a floor vote.
Next likely step: a committee referral and hearing.
Prognosis
Where this bill stands today.
Odds of enactment
LowHow 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 Uniform Fraudulent Transfer Act. Changes the short title to the Uniform Voidable Transactions Act. Makes changes to the Act that were recommended by the National Conference of Commissioners on Uniform State Laws in 2014, including: adding definitions for "electronic", "organization", "record", and "sign"; providing that a presumption of insolvency imposes on the party against which the presumption is directed the burden of proving that the nonexistence of insolvency is more probable than its existence; removing language providing that a partnership is insolvent if the sum of the partnership's debts is greater than the aggregate, at a fair valuation, of all of the partnership's assets and the sum of the excess of the value of each general partner's nonpartnership assets over the partner's nonpartnership debts; providing that a creditor making a claim for relief has the burden of proving the elements of the claim for relief by a preponderance of the evidence; adding rules to determine the burden of proving matters regarding defenses, liability, and the protection of transferees or obligees; adding rules to determine a debtor's location; providing that a series organization and each protected series of the organization is a separate person, even if for other purposes a protected series is not a person separate from the organization of other protected series of the organization; how the Act relates to the Electronic Signatures in Global and National Commerce Act; and other changes. Makes conforming changes in the Illinois Insurance Code and the Illinois Trust Code.
Bill Text
We don't have the full text on file for this bill yet.
Read HB0030 on the official Illinois source →Action History
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Rule 19(a) / Re-referred to Rules Committee
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Assigned to Judiciary - Civil Committee
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Referred to Rules Committee
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First Reading
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Prefiled with Clerk by Rep. Daniel Didech
Sponsors
- Daniel Didech · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 182 not signed on
Sponsors (1)
- Daniel Didech Democrat
Co-sponsors (0)
None.
Not signed on (182)
182 members have not signed on to this bill.
Show all 182 →"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.
Subjects
Frequently asked questions
- What does HB0030 do?
- Amends the Uniform Fraudulent Transfer Act. Changes the short title to the Uniform Voidable Transactions Act. Makes changes to the Act that were recommended by the National Conference of Commissioners on Uniform State Laws in 2014, including: adding definitions for "electronic", "organization", "record", and "sign"; providing that a presumption of insolvency imposes on the party against which the presumption is directed the burden of proving that the nonexistence of insolvency is more probable than its existence; removing language providing that a partnership is insolvent if the sum of the partnership's debts is greater than the aggregate, at a fair valuation, of all of the partnership's assets and the sum of the excess of the value of each general partner's nonpartnership assets over the partner's nonpartnership debts; providing that a creditor making a claim for relief has the burden of proving the elements of the claim for relief by a preponderance of the evidence; adding rules to determine the burden of proving matters regarding defenses, liability, and the protection of transferees or obligees; adding rules to determine a debtor's location; providing that a series organization and each protected series of the organization is a separate person, even if for other purposes a protected series is not a person separate from the organization of other protected series of the organization; how the Act relates to the Electronic Signatures in Global and National Commerce Act; and other changes. Makes conforming changes in the Illinois Insurance Code and the Illinois Trust Code.
- Who sponsors HB0030 ?
- HB0030 is sponsored by Daniel Didech (Democrat).
- What is the current status of HB0030 ?
- This bill has been introduced in the House. Introduced December 05, 2024. It must pass committee before a floor vote.
- Where can I track HB0030 ?
- Track HB0030 free on One Click Politics — get push/email alerts when it moves.
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Last checked for changes 4 months ago · updated continuously
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