House Sponsors: HASSERT-BUGIELSKI. Senate Sponsors: WALSH,T Short description: TITLE INSURANCE ACT-TECHNICAL Synopsis of Bill as introduced: Amends the Title Insurance Act. Adds a caption to the short title Section. FISCAL NOTE (Office of Banks & Real Estate) There will be no fiscal impact on this Dept. STATE MANDATES FISCAL NOTE In the opinion of DCCA, HB922 fails to create a State mandate. HOME RULE NOTE HB922 does not preempt home rule authority. SENATE AMENDMENT NO. 1. Deletes reference to: 215 ILCS 155/1 Adds reference to: 215 ILCS 155/13.5 new 215 ILCS 155/17 from Ch. 73, par. 1417 Replaces the title and everything after the enacting clause. Requires title insurance companies and title insurance agencies to file fee schedules with the Department of Financial Institutions. Prohibits charging fees other than in the amounts filed with the Department. Provides that title insurance companies and agents may act as escrow agents even if it is not issuing title insurance or qualified as an independent escrowee. SENATE AMENDMENT NO. 3. Provides that instead of filing a schedule of fees, companies and agents must file a disclosure of the highest fee charged for a service. Prohibits collection of an increased fee until the increased fee has been on file for 60 days. Allows a decreased fee to be charged upon filing a disclosure with the Department. Last action on Bill: THIRD READING - LOST 019-032-006 Last action date: 97-05-16 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 2 END OF INQUIRY Full Text Bill Status