Illinois General Assembly - Bill Status for SB1578
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 Bill Status of SB1578  102nd General Assembly

Short Description:  CREDIT AGREEMENTS ACT-TECH

Senate Sponsors
Sen. Michael Noland - Deanna Demuzio - Linda Holmes - Michael Bond - Toi W. Hutchinson, Michael W. Frerichs, Dan Kotowski, Gary Forby, Mattie Hunter, Ira I. Silverstein, M. Maggie Crotty, Emil Jones, III, Martin A. Sandoval, John M. Sullivan, Kimberly A. Lightford, Kwame Raoul and Jacqueline Y. Collins

House Sponsors
(Rep. Michael J. Madigan - Robert F. Flider - Michael K. Smith - Keith Farnham - Carol A. Sente, Eddie Washington, Charles E. Jefferson, Mark L. Walker, Emily McAsey, Jehan A. Gordon, Fred Crespo, Joseph M. Lyons, Deborah Mell, Monique D. Davis, Lisa M. Dugan, LaShawn K. Ford, Karen May, Lou Lang, Maria Antonia Berrios, Cynthia Soto, Paul D. Froehlich, Luis Arroyo, John D'Amico, Jack D. Franks, Linda Chapa LaVia, Darlene J. Senger, Kay Hatcher, Michael G. Connelly, Sandra M. Pihos, Dennis M. Reboletti, Rich Brauer, Sidney H. Mathias, Patricia R. Bellock, Rosemary Mulligan, John D. Cavaletto, Renée Kosel, Sandy Cole and Franco Coladipietro)

Last Action
DateChamber Action
  4/13/2010SenatePublic Act . . . . . . . . . 96-0888

Statutes Amended In Order of Appearance
815 ILCS 160/2from Ch. 17, par. 7102


Synopsis As Introduced
Amends the Credit Agreements Act. Provides that specified provisions shall not constitute a defense to a claim that arises out of bad faith conduct intended to unjustly benefit a creditor or a third party. Provides that the mere failure by a creditor to enter into a credit agreement with or to provide a written commitment to a debtor, without more, shall not constitute bad faith under specified provisions. Provides for the legislative intent of the General Assembly and that certain provisions apply to pending actions as well as actions commenced on or after the effective date of the amendatory Act. Effective immediately.

Senate Floor Amendment No. 2
Deletes reference to:
815 ILCS 160/2from Ch. 17, par. 7102
Adds reference to:
815 ILCS 160/3.1

Replaces everything after the enacting clause. Amends the Credit Agreements Act. Makes a technical change in a Section concerning a creditor's liability.

House Committee Amendment No. 1
Deletes reference to:
815 ILCS 5/160/3.1
Adds reference to:
New Act
35 ILCS 5/704A

Replaces everything after the enacting clause. Creates the Small Business Job Creation Tax Credit Act and amends the Illinois Income Tax Act. Provides for a tax credit to be awarded to small businesses by the Department of Commerce and Economic Opportunity in connection with the hiring of new employees. Provides that a person that is operating a business located within the State, that is engaged in interstate or intrastate commerce, that has no more than 50 full-time employees, and that has hired a new employee during State fiscal year 2011 may apply for a certificate of eligibility for a tax credit against payment of taxes withheld under the Illinois Income Tax Act with respect to that position. Provides that a tax credit shall not exceed $2,500, and provides that the Department shall limit the monetary amount of credits awarded under the Small Business Job Creation Tax Credit Act to no more than $50,000,000. Provides for issuance of a tax credit certificate to be presented to the Department of Revenue. Imposes requirements on employers in connection with receipt of a tax credit. Effective immediately.

Actions 
DateChamber Action
  2/19/2009SenateFiled with Secretary by Sen. A. J. Wilhelmi
  2/19/2009SenateFirst Reading
  2/19/2009SenateReferred to Assignments
  2/25/2009SenateAssigned to Judiciary
  3/5/2009SenatePostponed - Judiciary
  3/11/2009SenateDo Pass Judiciary; 008-000-000
  3/11/2009SenatePlaced on Calendar Order of 2nd Reading March 12, 2009
  3/25/2009SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. A. J. Wilhelmi
  3/25/2009SenateSenate Floor Amendment No. 1 Referred to Assignments
  3/25/2009SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. A. J. Wilhelmi
  3/25/2009SenateSenate Floor Amendment No. 2 Referred to Assignments
  3/30/2009SenateSenate Floor Amendment No. 2 Assignments Refers to Judiciary
  3/31/2009SenateSenate Floor Amendment No. 2 Recommend Do Adopt Judiciary; 007-000-000
  3/31/2009SenateSecond Reading
  3/31/2009SenateSenate Floor Amendment No. 2 Adopted; Wilhelmi
  3/31/2009SenatePlaced on Calendar Order of 3rd Reading April 1, 2009
  4/2/2009SenateThird Reading - Passed; 055-000-000
  4/2/2009SenateSenate Floor Amendment No. 1 Tabled Pursuant to Rule 5-4(a)
  4/3/2009HouseArrived in House
  4/3/2009HousePlaced on Calendar Order of First Reading
  4/3/2009HouseChief House Sponsor Rep. Robert W. Pritchard
  4/6/2009HouseFirst Reading
  4/6/2009HouseReferred to Rules Committee
  4/20/2009HouseAssigned to Executive Committee
  4/22/2009HouseAlternate Chief Sponsor Changed to Rep. James D. Brosnahan
  5/8/2009HouseCommittee/Final Action Deadline Extended-9(b) May 22, 2009
  5/22/2009HouseFinal Action Deadline Extended-9(b) May 29, 2009
  5/29/2009HouseFinal Action Deadline Extended-9(b) May 31, 2009
  5/31/2009HouseRule 19(a) / Re-referred to Rules Committee
  3/12/2010HouseAlternate Chief Sponsor Changed to Rep. Michael J. Madigan
  3/12/2010HouseAssigned to Revenue & Finance Committee
  3/17/2010HouseAdded Alternate Chief Co-Sponsor Rep. Robert F. Flider
  3/18/2010HouseHouse Committee Amendment No. 1 Filed with Clerk by Revenue & Finance Committee
  3/18/2010HouseHouse Committee Amendment No. 1 Adopted in Revenue & Finance Committee; by Voice Vote
  3/18/2010HouseDo Pass as Amended / Short Debate Revenue & Finance Committee; 012-000-000
  3/18/2010HousePlaced on Calendar 2nd Reading - Short Debate
  3/18/2010SenateChief Sponsor Changed to Sen. Michael Noland
  3/18/2010HouseAdded Alternate Co-Sponsor Rep. Eddie Washington
  3/18/2010HouseAdded Alternate Co-Sponsor Rep. Charles E. Jefferson
  3/19/2010HouseAdded Alternate Chief Co-Sponsor Rep. Michael K. Smith
  3/19/2010HouseAdded Alternate Chief Co-Sponsor Rep. Keith Farnham
  3/19/2010HouseAdded Alternate Chief Co-Sponsor Rep. Carol A. Sente
  3/19/2010HouseAdded Alternate Co-Sponsor Rep. Mark L. Walker
  3/19/2010HouseAdded Alternate Co-Sponsor Rep. Emily McAsey
  3/19/2010HouseAdded Alternate Co-Sponsor Rep. Jehan A. Gordon
  3/19/2010HouseAdded Alternate Co-Sponsor Rep. Fred Crespo
  3/19/2010HouseAdded Alternate Co-Sponsor Rep. Joseph M. Lyons
  3/19/2010HouseAdded Alternate Co-Sponsor Rep. Deborah Mell
  3/19/2010HouseAdded Alternate Co-Sponsor Rep. Monique D. Davis
  3/22/2010HouseSecond Reading - Short Debate
  3/22/2010HouseHeld on Calendar Order of Second Reading - Short Debate
  3/23/2010HouseAdded Alternate Co-Sponsor Rep. Lisa M. Dugan
  3/23/2010HouseAdded Alternate Co-Sponsor Rep. LaShawn K. Ford
  3/23/2010HouseAdded Alternate Co-Sponsor Rep. Karen May
  3/24/2010HousePlaced on Calendar Order of 3rd Reading - Short Debate
  3/24/2010HouseThird Reading - Short Debate - Passed 117-000-000
  3/24/2010HouseAdded Alternate Co-Sponsor Rep. Lou Lang
  3/24/2010HouseAdded Alternate Co-Sponsor Rep. Maria Antonia Berrios
  3/24/2010HouseAdded Alternate Co-Sponsor Rep. Cynthia Soto
  3/24/2010HouseAdded Alternate Co-Sponsor Rep. Paul D. Froehlich
  3/24/2010HouseAdded Alternate Co-Sponsor Rep. Luis Arroyo
  3/24/2010HouseAdded Alternate Co-Sponsor Rep. John D'Amico
  3/24/2010HouseAdded Alternate Co-Sponsor Rep. Jack D. Franks
  3/24/2010HouseAdded Alternate Co-Sponsor Rep. Linda Chapa LaVia
  3/24/2010SenateSecretary's Desk - Concurrence House Amendment(s) 1
  3/24/2010SenatePlaced on Calendar Order of Concurrence House Amendment(s) 1 - March 25, 2010
  3/24/2010HouseAdded Alternate Co-Sponsor Rep. Darlene J. Senger
  3/24/2010HouseAdded Alternate Co-Sponsor Rep. Kay Hatcher
  3/24/2010HouseAdded Alternate Co-Sponsor Rep. Michael G. Connelly
  3/24/2010HouseAdded Alternate Co-Sponsor Rep. Sandra M. Pihos
  3/24/2010HouseAdded Alternate Co-Sponsor Rep. Dennis M. Reboletti
  3/24/2010HouseAdded Alternate Co-Sponsor Rep. Rich Brauer
  3/24/2010HouseAdded Alternate Co-Sponsor Rep. Sidney H. Mathias
  3/24/2010HouseAdded Alternate Co-Sponsor Rep. Patricia R. Bellock
  3/24/2010HouseAdded Alternate Co-Sponsor Rep. Rosemary Mulligan
  3/24/2010HouseAdded Alternate Co-Sponsor Rep. John D. Cavaletto
  3/24/2010HouseAdded Alternate Co-Sponsor Rep. Renée Kosel
  3/24/2010HouseAdded Alternate Co-Sponsor Rep. Sandy Cole
  3/24/2010HouseAdded Alternate Co-Sponsor Rep. Franco Coladipietro
  3/24/2010SenateHouse Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Michael Noland
  3/24/2010SenateHouse Committee Amendment No. 1 Motion to Concur Referred to Assignments
  3/24/2010SenateHouse Committee Amendment No. 1 Motion to Concur Assignments Referred to Executive
  3/24/2010SenateAdded as Chief Co-Sponsor Sen. Deanna Demuzio
  3/24/2010SenateAdded as Chief Co-Sponsor Sen. Linda Holmes
  3/24/2010SenateAdded as Chief Co-Sponsor Sen. Michael Bond
  3/24/2010SenateAdded as Chief Co-Sponsor Sen. Toi W. Hutchinson
  3/24/2010SenateAdded as Co-Sponsor Sen. Michael W. Frerichs
  3/24/2010SenateAdded as Co-Sponsor Sen. Dan Kotowski
  3/24/2010SenateAdded as Co-Sponsor Sen. Gary Forby
  3/24/2010SenateAdded as Co-Sponsor Sen. Mattie Hunter
  3/24/2010SenateAdded as Co-Sponsor Sen. Ira I. Silverstein
  3/24/2010SenateAdded as Co-Sponsor Sen. M. Maggie Crotty
  3/24/2010SenateAdded as Co-Sponsor Sen. Emil Jones, III
  3/24/2010SenateAdded as Co-Sponsor Sen. Martin A. Sandoval
  3/24/2010SenateAdded as Co-Sponsor Sen. John M. Sullivan
  3/24/2010SenateAdded as Co-Sponsor Sen. Kimberly A. Lightford
  3/24/2010SenateHouse Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Executive; 012-001-000
  3/25/2010SenateAdded as Co-Sponsor Sen. Kwame Raoul
  3/25/2010SenateAdded as Co-Sponsor Sen. Jacqueline Y. Collins
  3/25/2010SenateHouse Committee Amendment No. 1 Senate Concurs 057-000-000
  3/25/2010SenatePassed Both Houses
  4/9/2010SenateSent to the Governor
  4/13/2010SenateGovernor Approved
  4/13/2010SenateEffective Date April 13, 2010
  4/13/2010SenatePublic Act . . . . . . . . . 96-0888

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