Bill Status of SB1443  104th General Assembly

Short Description:  MORTGAGE DEBT-RELEASE

Senate Sponsors
Sen. Michael E. Hastings

House Sponsors
(Rep. Daniel Didech)

Last Action
DateChamber Action
  4/23/2025HousePlaced on Calendar 2nd Reading - Short Debate

Statutes Amended In Order of Appearance
765 ILCS 905/17 new


Synopsis As Introduced
Amends the Mortgage Act. Provides that the Act does not abrogate the Illinois common law that the payment in full of a debt secured by a mortgage extinguishes the lien. Provides that payment in full of a debt secured by a mortgage pursuant to a payoff statement, as defined in the Mortgage Certificate of Release Act, issued by or on behalf of the holder of the indebtedness extinguishes the lien of the mortgage. Effective immediately.

Actions 
DateChamber Action
  1/31/2025SenateFiled with Secretary by Sen. Michael E. Hastings
  1/31/2025SenateFirst Reading
  1/31/2025SenateReferred to Assignments
  2/11/2025SenateAssigned to Judiciary
  2/20/2025SenateDo Pass Judiciary; 006-000-000
  2/20/2025SenatePlaced on Calendar Order of 2nd Reading February 25, 2025
  2/27/2025SenateSecond Reading
  2/27/2025SenatePlaced on Calendar Order of 3rd Reading March 4, 2025
  4/4/2025SenatePlaced on Calendar Order of 3rd Reading **
  4/9/2025SenatePlaced on Calendar Order of 3rd Reading
  4/9/2025SenateThird Reading - Passed; 056-000-000
  4/9/2025HouseArrived in House
  4/10/2025HouseChief House Sponsor Rep. Daniel Didech
  4/10/2025HouseFirst Reading
  4/10/2025HouseReferred to Rules Committee
  4/17/2025HouseAssigned to Judiciary - Civil Committee
  4/23/2025HouseDo Pass / Short Debate Judiciary - Civil Committee; 019-000-000
  4/23/2025HousePlaced on Calendar 2nd Reading - Short Debate