100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB0538

 

Introduced , by Rep. Robert W. Pritchard

 

SYNOPSIS AS INTRODUCED:
 
765 ILCS 705/4 new

    Amends the Landlord and Tenant Act. Provides that a landlord of residential property may not enter into an agreement with a tenant in which the tenant agrees to pay a charge, fee, or penalty for the late payment of rent in excess of $10 per month for the first $500 in monthly rent plus 5% per month of any amount in excess of $500 in monthly rent.


LRB100 00323 HEP 10327 b

 

 

A BILL FOR

 

HB0538LRB100 00323 HEP 10327 b

1    AN ACT concerning civil law.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Landlord and Tenant Act is amended by adding
5Section 4 as follows:
 
6    (765 ILCS 705/4 new)
7    Sec. 4. Limit on late rent fees. A landlord of residential
8property may not enter into an agreement with a tenant in which
9the tenant agrees to pay a charge, fee, or penalty for the late
10payment of rent in excess of $10 per month for the first $500
11in monthly rent plus 5% per month of any amount in excess of
12$500 in monthly rent.