Date	Chamber	Action
1/11/2011	House	Session Sine Die

Statutes Amended In Order of Appearance

205 ILCS 635/5-4 new

30 ILCS 105/5.756 new

Synopsis As Introduced
Amends the Residential Mortgage License Act of 1987. Provides that a licensee that is foreclosing on a loan must pay the clerk of the court of the county that the foreclosure action is commenced in a fee that is to be deposited into the Homeowner Loan Assistance Fund. Provides that the fee that the licensee must pay is equal to $5 for every $1,000 that is sought as part of the foreclosure action. Amends the State Finance Act to create the Homeowner Loan Assistance Fund as a special fund in the State treasury. Provides that all moneys in the Homeowner Loan Assistance Fund shall be used by the Department to offer loan assistance to homeowners that are facing foreclosure. Effective immediately.

House Committee Amendment No. 1

	Deletes reference to:
	205 ILCS 635/5-4 new

	Adds reference to:
	735 ILCS 5/15-1515 new

Replaces everything after the enacting clause. Amends the Code of Civil Procedure. Provides that with respect to residential real estate, at the time of filing a foreclosure complaint the plaintiff must pay the clerk of the court of the county that the mortgaged real estate is located, a fee for deposit into the Foreclosure Relief Fund, a special income-earning fund that is created in the State treasury. Provides that the fee that the plaintiff must pay is calculated at the rate of $2.50 for each $500 of value or fraction of $500 stated and sought by the plaintiff in the foreclosure complaint. Provides that all moneys deposited into the fund together with all accumulated undistributed income thereon shall be held as a special fund in the State treasury and the Foreclosure Relief Fund shall be used solely for the purpose of providing grants to units of local government and not-for-profit organizations, including, but not limited to, not-for-profit housing authorities and community organizations to clean up residential real estate that has been abandoned, neglected, or otherwise in need of additional care following foreclosure. Provides that the grant program shall be administered by the Illinois Housing Development Authority, which shall adopt rules for the administration, operation, and maintenance of the grant program. Provides that all fees paid by the plaintiff to the clerk of the court as provided in a specified manner, shall be disbursed within 60 days after receipt by the clerk of the court in a specified manner. Provides that no later than March 1 of each year, the clerk of the court shall submit a report of funds remitted during the preceding year based upon independent verification of fees collected. Amends the State Finance Act to create the Foreclosure Relief Fund as a special fund in the State treasury. Effective immediately.

Fiscal Note, House Committee Amendment No. 1 (Housing Development Authority)

HB 6215 (H-AM 1) will cause a direct fiscal impact to the Illinois Housing Development Authority (the "Authority") as it requires the Authority to allocate, assign and/or hire personnel to create and manage the new program. Please note however, due to the lack of information including but not limited to, program size, time frame and length, fees and reimbursement, frequency, number of grantees and reporting, the Authority is unable to compute the dollar amount to run such a program.

Housing Affordability Impact Note, House Committee Amendment No. 1 (Housing Development Authority)

HB 6215 (H-AM 1) proposes a "plaintiff" filing a foreclosure complaint in court must pay a fee calculated at the rate of $2.50 for each $500 of value or fraction of $500 stated and sought by the plaintiff in the foreclosure complaint. While nothing in this bill explicitly states an increase in the cost of purchasing a home, there is nothing in this bill preventing a bank (plaintiff) from passing the cost of the foreclosure filing on to a future homebuyer.

Actions 

Date	Chamber	Action
2/11/2010	House	Filed with the Clerk by Rep. André M. Thapedi
2/11/2010	House	First Reading
2/11/2010	House	Referred to Rules Committee
2/22/2010	House	Assigned to Judiciary I - Civil Law Committee
3/11/2010	House	House Committee Amendment No. 1 Filed with Clerk by Judiciary I - Civil Law Committee
3/11/2010	House	House Committee Amendment No. 1 Adopted in Judiciary I - Civil Law Committee; by Voice Vote
3/11/2010	House	Do Pass as Amended / Short Debate Judiciary I - Civil Law Committee; 016-000-000
3/11/2010	House	Placed on Calendar 2nd Reading - Short Debate
3/12/2010	House	House Committee Amendment No. 1 Fiscal Note Requested as Amended by Rep. André M. Thapedi
3/12/2010	House	House Committee Amendment No. 1 Housing Affordability Impact Note Requested as Amended by Rep. André M. Thapedi
3/15/2010	House	House Floor Amendment No. 2 Filed with Clerk by Rep. André M. Thapedi
3/15/2010	House	House Floor Amendment No. 2 Referred to Rules Committee
3/16/2010	House	Added Chief Co-Sponsor Rep. Karen A. Yarbrough
3/16/2010	House	House Committee Amendment No. 1 Fiscal Note Filed as Amended
3/16/2010	House	House Committee Amendment No. 1 Housing Affordability Impact Note Filed as Amended
3/22/2010	House	House Floor Amendment No. 2 Rules Refers to Judiciary I - Civil Law Committee
3/22/2010	House	House Floor Amendment No. 3 Filed with Clerk by Rep. André M. Thapedi
3/22/2010	House	House Floor Amendment No. 3 Referred to Rules Committee
3/23/2010	House	House Floor Amendment No. 2 Recommends Be Adopted - Lost Judiciary I - Civil Law Committee; 006-007-001
3/24/2010	House	House Floor Amendment No. 3 Rules Refers to Judiciary I - Civil Law Committee
3/25/2010	House	Second Reading - Short Debate
3/25/2010	House	Held on Calendar Order of Second Reading - Short Debate
3/26/2010	House	House Floor Amendment No. 3 Rule 19(a) / Re-referred to Rules Committee
3/26/2010	House	Rule 19(a) / Re-referred to Rules Committee
1/11/2011	House	Session Sine Die

Back To Top