Bill Status of HB 5031   103rd General Assembly

Short Description:  CONSUMER LEGAL-REFINANCING

House Sponsors
Rep. Curtis J. Tarver, II

Last Action  View All Actions

DateChamber Action
  1/7/2025HouseSession Sine Die

Statutes Amended In Order of Appearance
815 ILCS 121/25
815 ILCS 121/30
815 ILCS 121/165

Synopsis As Introduced
Amends the Consumer Legal Funding Act. Provides that, notwithstanding any other law, a consumer legal funding may be refinanced as authorized by rule. Provides that the Department of Financial and Professional Regulation shall publish first notice of a rule concerning the refinancing of consumer legal fundings in the Illinois Register in accordance with the Illinois Administrative Procedure Act within 120 days after the effective date of the amendatory Act. Authorizes the Department to adopt rules to permit the refinancing of consumer legal fundings. Makes conforming changes to contract disclosures.

Actions 
DateChamber Action
  2/7/2024HouseFiled with the Clerk by Rep. Curtis J. Tarver, II
  2/8/2024HouseFirst Reading
  2/8/2024HouseReferred to Rules Committee
  2/28/2024HouseAssigned to Financial Institutions and Licensing Committee
  3/5/2024HouseDo Pass / Short Debate Financial Institutions and Licensing Committee; 007-004-000
  3/6/2024HousePlaced on Calendar 2nd Reading - Short Debate
  4/12/2024HouseSecond Reading - Short Debate
  4/12/2024HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/19/2024HouseRule 19(a) / Re-referred to Rules Committee
  1/7/2025HouseSession Sine Die

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