HB 4814 Illinois House · 104th Regular Session

DEBT MANAGEMENT LICENSE & FEES

Summary

Amends the Debt Management Service Act. Provides that every applicant for a license to engage in the debt management service business in the State shall submit to the Secretary, at the time of the application for a license, a bond to be approved by the Secretary in which the applicant shall be the obligor, in the sum of $50,000 (rather than $25,000) or the specified amount. In provisions concerning fees or penalties that may be charged by a debt management service provider, permits the charging of additional fees at the completion of the initial counseling services, which shall not exceed: (A) 15% of the amount disbursed monthly to creditors or $75, whichever is less, if there are fewer than 6 creditors enrolled in the debt management plan; or (B) 15% of the amount disbursed monthly to creditors or $100, whichever is less, if there are 6 or more creditors enrolled in the debt management plan.

Bill status passed 3 of 5 stages cleared

Introduction

Apr 2026

Committee Review

Jul 2026

House Passage

Apr 2026

Senate Passage

Governor

Introduced Apr 15, 2026 Last action Jul 2, 2026

Maddy AI version diff · 1 comparison

What changed between versions

Introduced → Engrossed · 3 edits · Apr 14, 2026

MINOR

This bill increases the required financial bond for debt management service providers from $25,000 to $50,000 to ensure greater financial security for consumers. It also clarifies fee structures by adding a monthly cap on additional fees and adjusting the maximum initial counseling fee to $75 per debtor.

REQUIREMENT

The required bond amount for obtaining a debt management license was increased from $25,000 to $50,000.

The maximum fee for initial counseling services was adjusted to $75 per debtor, replacing a previous $50 limit.

Additional fees charged after initial counseling are now capped at 15% of monthly disbursements or $75 (fewer than 6 creditors) or $100 (6 or more creditors), with the addition of a 'per month' specification to clarify the billing frequency.

Floor votes · House Apr 14, 2026

How they voted

72–34

Passed · 10 other

Total votes 116

Apr 14, 2026

D Democratic76

70 Yea 6

92% Yea

R Republican40

2 Yea 34 Nay 4

85% Nay

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Jul 2, 2026

Committee

Senate Floor Amendment No. 1 Pursuant to Senate Rule 3-9(b) / Referred to Assignments

upper

Jun 1, 2026

Committee

Rule 3-9(a) / Re-referred to Assignments

upper

May 21, 2026

Introduced

Senate Floor Amendment No. 1 Assignments Refers to Executive

upper

May 20, 2026

Committee

Senate Floor Amendment No. 1 Referred to Assignments

upper

May 20, 2026

Introduced

Senate Floor Amendment No. 1 Filed with Secretary by Sen. Mark L. Walker

upper

Apr 15, 2026

Committee

Referred to Assignments

upper

Apr 15, 2026

Introduced

Arrive in Senate

upper

Apr 14, 2026

Lower · Passed

Third Reading - Short Debate - Passed 074-034-000

lower

Apr 14, 2026

Lower · Passed

House Floor Amendment No. 1 Adopted

lower

Apr 7, 2026

Lower · Passed

House Floor Amendment No. 1 Recommends Be Adopted Financial Institutions and Licensing Committee; 010-000-000

lower

Mar 26, 2026

Lower · Passed

House Floor Amendment No. 1 Rules Refers to Financial Institutions and Licensing Committee

lower

Mar 25, 2026

Committee

House Floor Amendment No. 1 Referred to Rules Committee

lower

Mar 25, 2026

Introduced

House Floor Amendment No. 1 Filed with Clerk by Rep. Daniel Didech

lower

Mar 24, 2026

Lower · Passed

Do Pass / Short Debate Financial Institutions and Licensing Committee; 012-000-000

lower

Mar 4, 2026

Committee

Assigned to Financial Institutions and Licensing Committee

lower

Feb 6, 2026

Committee

Referred to Rules Committee

lower

2 primary · 1 co-sponsor