Illinois General Assembly - Bill Status for HB4991
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 Bill Status of HB4991  94th General Assembly


Short Description:  DEBT-MANAGEMENT SERVICES

House Sponsors
Rep. John A. Fritchey - Angelo Saviano

Last Action
DateChamber Action
  1/9/2007HouseSession Sine Die

Statutes Amended In Order of Appearance
New Act
30 ILCS 105/6z-26
805 ILCS 105/103.05from Ch. 32, par. 103.05
205 ILCS 665/Act rep.


Synopsis As Introduced
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.

 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.

Actions 
DateChamber Action
  1/23/2006HouseFiled with the Clerk by Rep. John A. Fritchey
  1/23/2006HouseFirst Reading
  1/23/2006HouseReferred to Rules Committee
  1/26/2006HouseAdded Chief Co-Sponsor Rep. Angelo Saviano
  1/31/2006HouseAssigned to Consumer Protection Committee
  2/14/2006HouseDo Pass / Short Debate Consumer Protection Committee; 013-000-000
  2/14/2006HousePlaced on Calendar 2nd Reading - Short Debate
  2/28/2006HouseSecond Reading - Short Debate
  2/28/2006HouseHeld on Calendar Order of Second Reading - Short Debate
  3/1/2006HouseFiscal Note Filed
  3/3/2006HouseRule 19(a) / Re-referred to Rules Committee
  1/9/2007HouseSession Sine Die

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