Date	Chamber	Action
1/9/2007	Senate	Session Sine Die

Statutes Amended In Order of Appearance

815 ILCS 137/115

Synopsis As Introduced
Amends the High Risk Home Loan Act. Provides that, on or before October 1, 2006, but following the reporting requirements due for the 6-month period ending June 30, 2006, the reporting requirements for default and foreclosure rates on conventional loans shall not apply to the listed State-regulated financial institutions. Permits the Secretary of Financial and Professional Regulation or the Director of the Division of Banking to impose reporting requirements whenever the Secretary or Director has cause to believe that a financial institution has experienced a rate of defaults or foreclosures on residential mortgage loans that substantially exceeds the rate of defaults or foreclosures experienced by other financial institutions in Illinois. Effective immediately.

Senate Committee Amendment No. 1
Replaces everything after the enacting clause. Reinserts the provisions of the original bill with the following changes. Provides that the Department of Financial and Professional Regulation may adopt reasonable rules to implement and administer any reporting requirements by establishing the terms and conditions for the imposition of such reporting requirements on a financial institution. Updates a reference from the Commissioner or Director to the Secretary of Financial and Professional Regulation, the Director of the Division of Banking, or the Director of the Division of Financial Institutions. Effective immediately.

Actions 

Date	Chamber	Action
1/12/2006	Senate	Filed with Secretary by Sen. Terry Link
1/12/2006	Senate	First Reading
1/12/2006	Senate	Referred to Rules
1/19/2006	Senate	Assigned to Financial Institutions
1/19/2006	Senate	Added as Chief Co-Sponsor Sen. Jacqueline Y. Collins
1/31/2006	Senate	Senate Committee Amendment No. 1 Filed with Secretary by Sen. Terry Link
1/31/2006	Senate	Senate Committee Amendment No. 1 Referred to Rules
2/1/2006	Senate	Senate Committee Amendment No. 1 Rules Refers to Financial Institutions
2/2/2006	Senate	Senate Committee Amendment No. 1 Adopted
2/2/2006	Senate	Do Pass as Amended Financial Institutions; 009-000-000
2/2/2006	Senate	Placed on Calendar Order of 2nd Reading February 7, 2006
2/2/2006	Senate	Sponsor Removed Sen. Jacqueline Y. Collins
2/7/2006	Senate	Second Reading
2/7/2006	Senate	Placed on Calendar Order of 3rd Reading February 8, 2006
2/8/2006	Senate	Third Reading - Passed; 054-000-000
2/8/2006	House	Arrived in House
2/8/2006	House	Placed on Calendar Order of First Reading
2/9/2006	House	Chief House Sponsor Rep. Daniel J. Burke
2/9/2006	House	First Reading
2/9/2006	House	Referred to Rules Committee
1/9/2007	Senate	Session Sine Die

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