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 Attorney2 General for the investigation and prosecution of frauds3 against persons 65 years of age or older and 50% of all4 moneys in the Fund shall be appropriated to the Attorney5 General to develop and implement State-wide education6 initiatives to inform persons 65 years of age or older, law7 enforcement agencies, the judicial system, social service8 professionals, and the general public about prevention of9 consumer crimes against persons 65 years of age or older, and10 about the provisions of this Section, the penalties for11 violations of this Section, and the remedies available for12 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.)".