093_SB0633sam001

 










                                     LRB093 06761 DRJ 13192 a

 1                    AMENDMENT TO SENATE BILL 633

 2        AMENDMENT NO.     .  Amend Senate Bill 633 on page 1,  by
 3    deleting lines 9 through 12; and

 4    on page 1, line 13, by changing "(3)" to "(1)"; and

 5    on page 1, line 15, by changing "(4)" to "(2)"; and

 6    on page 1, line 17, by changing "(5)" to "(3)"; and

 7    on   page   3,  line  14,  before  the  comma,  by  inserting
 8    "(including amounts awarded)"; and

 9    on page 4, after line 19, by inserting the following:
10        "(7)  Provide documentation  that  funds  were  requested
11    from  other  sources, including, but not limited to, units of
12    local government, local donors, local Area Agencies on Aging,
13    or private or religious foundations.
14        (8)  Include letters of support for the awarding  of  the
15    grant,  from  sources  such  as  local  government officials,
16    community leaders, other human service providers,  the  local
17    Area  Agency  on  Aging, private or religious foundations, or
18    local membership-based organizations."; and

19    on page 5, lines 2 and 4, by changing "12" to "14" each  time
20    it appears; and
 
                            -2-      LRB093 06761 DRJ 13192 a
 1    on  page  5,  between  lines  20  and  21,  by  inserting the
 2    following:
 3        "(7)  Two members who are directors of Area  Agencies  on
 4    Aging."; and

 5    on  page  5,  line  24,  by  changing "4" to "5" each time it
 6    appears; and

 7    on page 6, after line 26, by inserting the following:

 8        "Section 85.  The Deposit of State Moneys Act is  amended
 9    by changing Section 7 as follows:

10        (15 ILCS 520/7) (from Ch. 130, par. 26)
11        Sec.  7.  (a)  Proposals  made  may either be approved or
12    rejected by the State Treasurer.  A bank or savings and  loan
13    association  whose  proposal is approved shall be eligible to
14    become a State depositary for the class or classes  of  funds
15    covered   by  its  proposal.  A  bank  or  savings  and  loan
16    association whose  proposal  is  rejected  shall  not  be  so
17    eligible. The State Treasurer shall seek to have at all times
18    a  total  of  not  less  than  20  banks  or savings and loan
19    associations which are approved  as  State  depositaries  for
20    time deposits.
21        (b)  The State Treasurer may, in his discretion, accept a
22    proposal  from  an  eligible institution which provides for a
23    reduced rate  of  interest  provided  that  such  institution
24    documents   the   use   of   deposited  funds  for  community
25    development projects.
26        (b-5)  The State Treasurer may, in his or her discretion,
27    accept a proposal from an eligible institution that  provides
28    for   a   reduced   rate  of  interest,  provided  that  such
29    institution agrees to expend an amount of money equal to  the
30    amount  of  the  reduction  for  the  preservation of Cahokia
31    Mounds.
 
                            -3-      LRB093 06761 DRJ 13192 a
 1        (b-10)  The  State  Treasurer  may,   in   his   or   her
 2    discretion,  accept  a  proposal from an eligible institution
 3    that provides for a reduced rate of interest,  provided  that
 4    the  institution agrees to expend an amount of money equal to
 5    the amount of the reduction for senior centers.
 6        (c)  The State Treasurer may, in his or  her  discretion,
 7    accept  a proposal from an eligible institution that provides
 8    for interest earnings on deposits of State moneys to be  held
 9    by  the  institution  in  a  separate  account that the State
10    Treasurer may use to secure up to 10% of any (i)  home  loans
11    to  Illinois  citizens  purchasing  a  home  in  Illinois  in
12    situations  where  the  participating  financial  institution
13    would   not   offer  the  borrower  a  home  loan  under  the
14    institution's  prevailing  credit   standards   without   the
15    incentive  of a reduced rate of interest on deposits of State
16    moneys, (ii) existing home loans  of  Illinois  citizens  who
17    have  failed to make payments on a home loan as a result of a
18    financial hardship due to circumstances beyond the control of
19    the borrower where there is a reasonable  prospect  that  the
20    borrower  will  be able to resume full mortgage payments, and
21    (iii) loans in amounts that  do  not  exceed  the  amount  of
22    arrearage  on  a  mortgage  and that are extended to enable a
23    borrower to become current on his or her mortgage obligation.
24        The  following  factors  shall  be  considered   by   the
25    participating  financial institution to determine whether the
26    financial hardship is due to circumstances beyond the control
27    of the borrower: (i) loss, reduction, or delay in the receipt
28    of income because of the death or disability of a person  who
29    contributed  to  the household income, (ii) expenses actually
30    incurred related to the uninsured damage or costly repairs to
31    the mortgaged  premises  affecting  its  habitability,  (iii)
32    expenses  related  to  the death or illness in the borrower's
33    household or of family members living outside  the  household
34    that  reduce  the  amount  of  household income, (iv) loss of
 
                            -4-      LRB093 06761 DRJ 13192 a
 1    income or a substantial increase in  total  housing  expenses
 2    because of divorce, abandonment, separation from a spouse, or
 3    failure  to  support  a  spouse or child, (v) unemployment or
 4    underemployment,  (vi)  loss,  reduction,  or  delay  in  the
 5    receipt of federal, State, or other government benefits,  and
 6    (vii)  participation  by  the homeowner in a recognized labor
 7    action such as a strike.  In determining whether there  is  a
 8    reasonable  prospect that the borrower will be able to resume
 9    full   mortgage   payments,   the   participating   financial
10    institution  shall  consider  factors  including,   but   not
11    necessarily  limited  to  the following: (i) a favorable work
12    and credit  history,  (ii)  the  borrower's  ability  to  and
13    history  of paying the mortgage when employed, (iii) the lack
14    of an impediment or disability  that  prevents  reemployment,
15    (iv)  new  education and training opportunities, (v) non-cash
16    benefits that may reduce household expenses, and  (vi)  other
17    debts.
18        For  the  purposes  of  this Section, "home loan" means a
19    loan, other  than  an  open-end  credit  plan  or  a  reverse
20    mortgage  transaction,  for which (i) the principal amount of
21    the loan does not exceed 50%  of  the  conforming  loan  size
22    limit  for  a single-family dwelling as established from time
23    to time by the Federal National  Mortgage  Association,  (ii)
24    the  borrower is a natural person, (iii) the debt is incurred
25    by the borrower primarily for personal, family, or  household
26    purposes,  and (iv) the loan is secured by a mortgage or deed
27    of trust on real estate upon which there is located or  there
28    is  to  be  located  a structure designed principally for the
29    occupancy of no more than 4 families and that is or  will  be
30    occupied   by   the  borrower  as  the  borrower's  principal
31    dwelling.
32        (d)  If there is an agreement between the State Treasurer
33    and an eligible institution that details the use of deposited
34    funds, the agreement may  not  require  the  gift  of  money,
 
                            -5-      LRB093 06761 DRJ 13192 a
 1    goods,  or services to a third party; this provision does not
 2    restrict the eligible institution from contracting with third
 3    parties in order to carry out the intent of the agreement  or
 4    restrict  the  State Treasurer from placing requirements upon
 5    third-party  contracts   entered   into   by   the   eligible
 6    institution.
 7    (Source:  P.A.  92-482,  eff.  8-23-01;  92-531, eff. 2-8-02;
 8    92-625, eff. 7-11-02; revised 8-26-02.)"; and

 9    on page 6, after line 31, by inserting the following:

10        "Section 92.  The Public Funds Investment Act is  amended
11    by adding Section 2.10 as follows:

12        (30 ILCS 235/2.10 new)
13        Sec.  2.10.  Unit of local government; deposit at reduced
14    rate of interest. The treasurer of a unit of local government
15    may, in his or her discretion, deposit public moneys of  that
16    unit  of local government in a financial institution pursuant
17    to an agreement that provides for a reduced rate of interest,
18    provided that the institution agrees to expend an  amount  of
19    money  equal  to  the  amount  of  the  reduction  for senior
20    centers.

21        Section 95.  The Consumer Fraud  and  Deceptive  Business
22    Practices Act is amended by changing Section 7 as follows:

23        (815 ILCS 505/7) (from Ch. 121 1/2, par. 267)
24        Sec.   7.  Injunctive   relief;  restitution;  and  civil
25    penalties.
26        (a)  Whenever the Attorney General or a State's  Attorney
27    has  reason to believe that any person is using, has used, or
28    is about to use any method, act or practice declared by  this
29    Act  to  be  unlawful,  and  that proceedings would be in the
30    public interest, he or she may bring an action in the name of
 
                            -6-      LRB093 06761 DRJ 13192 a
 1    the People of the State against such person  to  restrain  by
 2    preliminary  or  permanent injunction the use of such method,
 3    act or practice.  The Court, in its discretion, may  exercise
 4    all   powers   necessary,   including  but  not  limited  to:
 5    injunction;  revocation,  forfeiture  or  suspension  of  any
 6    license, charter, franchise, certificate or other evidence of
 7    authority of  any  person  to  do  business  in  this  State;
 8    appointment   of   a   receiver;   dissolution   of  domestic
 9    corporations or association suspension or termination of  the
10    right  of foreign corporations or associations to do business
11    in this State; and restitution.
12        (b)  In addition to the  remedies  provided  herein,  the
13    Attorney  General  or  State's  Attorney  may request and the
14    Court may impose a civil penalty  in  a  sum  not  to  exceed
15    $50,000 against any person found by the Court to have engaged
16    in  any  method, act or practice declared unlawful under this
17    Act.  In the  event  the  court  finds  the  method,  act  or
18    practice  to  have  been  entered  into  with  the  intent to
19    defraud, the court  has  the  authority  to  impose  a  civil
20    penalty in a sum not to exceed $50,000 per violation.
21        (c)  In  addition  to any other civil penalty provided in
22    this Section, if a person is  found  by  the  court  to  have
23    engaged  in  any  method,  act, or practice declared unlawful
24    under this Act, and the violation  was  committed  against  a
25    person  65  years  of  age  or older, the court may impose an
26    additional civil penalty  not  to  exceed  $10,000  for  each
27    violation.
28        A  civil  penalty imposed under this subsection (c) shall
29    be paid to the State Treasurer who shall deposit the money in
30    the State treasury in a special fund designated  the  Elderly
31    Victim  Fund.   The  Treasurer shall deposit such moneys into
32    the Fund monthly. All of the moneys deposited into  the  Fund
33    shall  be  appropriated to the Department on Aging for grants
34    to senior centers in Illinois.  Fifty percent of  all  moneys
 
                            -7-      LRB093 06761 DRJ 13192 a
 1    deposited  in  the Fund shall be appropriated to the Attorney
 2    General for  the  investigation  and  prosecution  of  frauds
 3    against  persons  65  years  of  age  or older and 50% of all
 4    moneys in the Fund shall  be  appropriated  to  the  Attorney
 5    General   to   develop  and  implement  State-wide  education
 6    initiatives to inform persons 65 years of age or  older,  law
 7    enforcement  agencies,  the  judicial  system, social service
 8    professionals, and the general  public  about  prevention  of
 9    consumer crimes against persons 65 years of age or older, and
10    about  the  provisions  of  this  Section,  the penalties for
11    violations of this Section, and the  remedies  available  for
12    victims of those violations.
13        An award of restitution under subsection (a) has priority
14    over  a  civil  penalty  imposed  by  the  court  under  this
15    subsection.
16        In  determining  whether  to impose a civil penalty under
17    this subsection and the amount  of  any  penalty,  the  court
18    shall consider the following:
19             (1)  Whether  the defendant's conduct was in willful
20        disregard of the rights of the person 65 years of age  or
21        older.
22             (2)  Whether the defendant knew or should have known
23        that  the defendant's conduct was directed to a person 65
24        years of age or older.
25             (3)  Whether the person 65 years of age or older was
26        substantially more vulnerable to the defendant's  conduct
27        because   of   age,   poor  health,  infirmity,  impaired
28        understanding, restricted mobility, or  disability,  than
29        other persons.
30             (4)  Any other factors the court deems appropriate.
31        (d)  This  Section applies if: (i) a court orders a party
32    to make payments to the Attorney General and the payments are
33    to be used for the operations of the Office of  the  Attorney
34    General  or (ii) a party agrees, in an Assurance of Voluntary
 
                            -8-      LRB093 06761 DRJ 13192 a
 1    Compliance under this Act, to make payments to  the  Attorney
 2    General  for  the  operations  of  the Office of the Attorney
 3    General.
 4        (e)  Moneys paid under any of the conditions described in
 5    subsection (d) shall be deposited into the  Attorney  General
 6    Court Ordered and Voluntary Compliance Payment Projects Fund,
 7    which  is  created  as  a special fund in the State Treasury.
 8    Moneys in the Fund shall be used, subject  to  appropriation,
 9    for  the  performance  of  any  function  pertaining  to  the
10    exercise  of the duties of the Attorney General including but
11    not limited to enforcement of  any  law  of  this  State  and
12    conducting  public education programs; however, any moneys in
13    the Fund that are required by the court or by an agreement to
14    be used for a particular  purpose  shall  be  used  for  that
15    purpose.
16    (Source: P.A. 90-414, eff. 1-1-98.)".