CAPPARELLI-DEUCHLER-BUGIELSKI. (O'MALLEY) 810 ILCS 5/9-507 from Ch. 26, par. 9-507 Amends the Secured Transactions Article of the Uniform Commercial Code. In provisions giving the debtor a right to recover an amount not less than the credit service charge plus 10% of the principal amount of the debt or the time price differential plus 10% of the cash price if the collateral is consumer goods and the secured party is not proceeding in accordance with this Article regarding secured transactions, provides that the debtor can recover in an individual action. Effective immediately. FISCAL NOTE (DCCA) HB 1412 does not impose any requirements on and does not have a fiscal impact on units of local government. STATE MANDATES FISCAL NOTE HB 1412 fails to create a State mandate. FISCAL NOTE (Dpt. Financial Institutions) HB1412 would have no fiscal impact on the Department. JUDICIAL NOTE The bill would not either decrease or increase the need for the number of judges in the state. 97-03-05 H FIRST READING 97-03-05 H ADDED AS A JOINT SPONSOR DEUCHLER 97-03-05 H ADDED AS A CO-SPONSOR BUGIELSKI 97-03-05 H REFERRED TO HOUSE RULES COMMITTEE RULES 97-03-06 H ASSIGNED TO COMMITTEE JUD-CIVIL LAW 97-03-19 H FISCAL NOTE REQUESTED CROSS 97-03-19 H COMMITTEE JUD-CIVIL LAW 97-03-20 H DO PASS/SHORT DEBATE 011-000-000 HJUA 97-03-20 H PLACED CALENDAR 2ND READING-SHORT DEBATE 97-03-20 H FISCAL NOTE FILED 97-03-20 H STATE MANDATES FISCAL NOTE FILED 97-03-20 H CALENDAR ORDER 2ND READING-SHORT DEBATE 97-03-26 H FISCAL NOTE FILED 97-03-26 H CALENDAR ORDER 2ND READING-SHORT DEBATE 97-04-04 H JUDICIAL NOTE FILED 97-04-04 H CALENDAR ORDER 2ND READING-SHORT DEBATE 97-04-08 H SECOND READING-SHORT DEBATE 97-04-08 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 97-04-14 H THIRD READING/SHORT DEBATE/PASSED 116-000-001 97-04-15 S ARRIVE IN SENATE 97-04-15 S PLACED CALENDAR ORDER OF FIRST READING 97-04-15 S CHIEF SPONSOR O'MALLEY 97-04-16 S FIRST READING 97-04-16 S REFERRED TO SENATE RULES COMMITTEE RULES 97-04-17 S ASSIGNED TO COMMITTEE FIN INST 97-04-24 S ADDED AS A CO-SPONSOR CULLERTON 97-05-01 S DO PASS 008-000-000 SFIC 97-05-01 S PLACED ON CALENDAR ORDER OF 2ND READING 97-05-06 97-05-07 S SECOND READING 97-05-07 S PLACED ON CALENDAR ORDER OF 3RD READING 97-05-08 97-05-09 S THIRD READING - PASSED 056-000-001 97-05-09 H PASSED BOTH HOUSES 97-06-06 H SENT TO THE GOVERNOR 97-07-25 H GOVERNOR APPROVED 97-07-25 H EFFECTIVE DATE 97-07-25 97-07-25 H PUBLIC ACT.............................. 90-0214 END OF INQUIRY Full Text Bill Summary