HB0538 100TH GENERAL ASSEMBLY

LRB100 00323 HEP 10327 b

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.

A BILL FOR

AN ACT concerning civil law.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Landlord and Tenant Act is amended by adding Section 4 as follows:

(765 ILCS 705/4 new)

Sec. 4. Limit on late rent fees. 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.