Illinois General Assembly - Full Text of SB3397

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Full Text of SB3397 98th General Assembly

Introduced   Engrossed   Enrolled
Senate Amendment 001   Senate Amendment 002   Senate Amendment 003
House Amendment 001   Governor's Message
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SB3397ham001 98TH GENERAL ASSEMBLY
Rep. Anthony DeLuca
Filed: 5/15/2014

09800SB3397ham001 LRB098 18944 HLH 59616 a

1 AMENDMENT TO SENATE BILL 3397
2 AMENDMENT NO. ______. Amend Senate Bill 3397 by replacing
3 everything from line 21 on page 7 through line 14 on page 8
4 with the following:
5 "(4) The retailer and lender shall maintain adequate books,
6 records, or other documentation supporting the charge off of
7 the accounts or receivables for which a deduction was taken or
8 a refund was claimed under this Section. A retailer claiming a
9 deduction or refund for bad debts from a private label credit
10 card may not be allowed to meet a lesser standard of
11 documentation than a retailer that claims a deduction or refund
12 for bad debts that are not from a private label credit card.
13 For purposes of computing the deduction or refund, payments on
14 the accounts or receivables shall be prorated against the
15 amounts outstanding on the account.".

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