Illinois General Assembly - Bill Status for HB 4991

Creates the Uniform Debt-Management Services Act. Requires any person that provides, offers, or agrees to provide debt-management services, directly or through others, to register under the Act. Sets forth provisions concerning: applications for registration; issuance or denial of a certificate of registration; renewal of registration; registration in other states; bond requirements; good faith; customer service; prerequisites for providing debt-management services; agreements between providers and consumers; trust accounts; fees and other charges; prohibited acts and practices; notice of litigation; advertising; liability; the powers of the Director of the Division of Financial Institutions of the Department of Financial and Professional Regulation as Administrator under the Act; and other provisions. Exempts certain agreements and persons from the provisions of the Act. Repeals the Debt Management Service Act. Amends the State Finance Act and the General Not For Profit Corporation Act of 1986 to make corresponding changes. Effective January 1, 2007.

Date	Chamber	Action
3/3/2006	House	Rule 19(a) / Re-referred to Rules Committee

Date	Chamber	Action
1/23/2006	House	Filed with the Clerk by Rep. John A. Fritchey
1/23/2006	House	First Reading
1/23/2006	House	Referred to Rules Committee
1/26/2006	House	Added Chief Co-Sponsor Rep. Angelo Saviano
1/31/2006	House	Assigned to Consumer Protection Committee
2/14/2006	House	Do Pass / Short Debate Consumer Protection Committee; 013-000-000
2/14/2006	House	Placed on Calendar 2nd Reading - Short Debate
2/28/2006	House	Second Reading - Short Debate
2/28/2006	House	Held on Calendar Order of Second Reading - Short Debate
3/1/2006	House	Fiscal Note Filed
3/3/2006	House	Rule 19(a) / Re-referred to Rules Committee

	Fiscal Note (Dept. of Financial & Professional Regulation)
	Costs account for 4 headcount: (1) PSA, (2) Office Associates, (1) Financial Institutions Examiner 1, and other operations. Total: $359,505.