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

Statutes Amended In Order of Appearance

815 ILCS 505/2XX new

815 ILCS 177/Act rep.

Synopsis As Introduced
Amends the Consumer Fraud and Deceptive Business Practices Act. Makes it an unlawful practice within the meaning of the Act for a facilitator to directly or indirectly charge a refund anticipation loan fee for the making of or in connection with a refund anticipation loan when: (i) the refund anticipation loan is issued to a borrower who is eligible to receive the Illinois Earned Income Tax Credit under Section 12 of the Illinois Income Tax Act; and (ii) the refund anticipation loan has an interest rate in excess of 26% per annum. Sets out disclosure requirements for the facilitator. Provides a formula for calculating the interest rate for a refund anticipation loan. Repeals the Tax Refund Anticipation Loan Disclosure Act.

Actions 

Date	Chamber	Action
1/20/2006	Senate	Filed with Secretary by Sen. Jeffrey M. Schoenberg
1/20/2006	Senate	First Reading
1/20/2006	Senate	Referred to Rules
2/1/2006	Senate	Assigned to Financial Institutions
2/3/2006	Senate	Added as Chief Co-Sponsor Sen. Jacqueline Y. Collins
2/9/2006	Senate	Postponed - Financial Institutions
2/16/2006	Senate	Postponed - Financial Institutions
2/17/2006	Senate	Rule 3-9(a) / Re-referred to Rules
1/9/2007	Senate	Session Sine Die

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