093_HB0458

 
                                     LRB093 05159 RLC 05219 b

 1        AN ACT in relation to criminal law.

 2        Be it enacted by the People of  the  State  of  Illinois,
 3    represented in the General Assembly:

 4        Section  5.   The  Criminal  Code  of  1961 is amended by
 5    changing Section 39-1 as follows:

 6        (720 ILCS 5/39-1) (from Ch. 38, par. 39-1)
 7        Sec. 39-1. Criminal Usury.
 8        (a)  A  Any  person  commits  criminal  usury  when,   in
 9    exchange  for  either  a  loan  of money or other property or
10    forbearance from the collection of such a  loan,  he  or  she
11    knowingly  contracts  for  or  receives  from  an individual,
12    directly  or  indirectly,   interest,   discount   or   other
13    consideration  at  a  rate  greater than 20% per annum either
14    before or after the maturity of the loan.
15        (b)  When a person has in his  personal  or  constructive
16    possession records, memoranda, or other documentary record of
17    usurious  loans  it shall be prima facie evidence that he has
18    violated Subsection 39-1(a) hereof.
19    (Source: P.A. 76-1879.)