Illinois General Assembly - Bill Status for HB4140
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 Bill Status of HB4140  94th General Assembly


House Sponsors
Rep. Monique D. Davis and Robert Rita

Last Action
DateChamber Action
  1/25/2006HouseTabled By Sponsor Rep. Monique D. Davis

Statutes Amended In Order of Appearance
815 ILCS 505/2ZZ new

Synopsis As Introduced
Amends the Consumer Fraud and Deceptive Business Practices Act. Requires a person or entity that offers to a consumer 0% interest financing on a purchase, for a specified period of time, to disclose to that consumer on his or her monthly billing statement the following: (1) the principal owed; (2) the total interest owed; (3) the amount of time at which interest will not accrue; and (4) that if the total amount owed is not paid off in its entirety during the specified period of time, finance charges will be assessed from the date of purchase. Provides that a person that violates this provision commits an unlawful practice within the meaning of the Act.

DateChamber Action
  10/25/2005HouseFiled with the Clerk by Rep. Monique D. Davis
  10/25/2005HouseFirst Reading
  10/25/2005HouseReferred to Rules Committee
  1/5/2006HouseAssigned to Consumer Protection Committee
  1/25/2006HouseAdded Co-Sponsor Rep. Robert Rita
  1/25/2006HouseTabled By Sponsor Rep. Monique D. Davis

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