HB 5197 Illinois House · 93rd Regular Session

FIN REG-REVERSE MORT LOANS

Summary

Amends the Illinois Banking Act and the Illinois Savings and Loan Act of 1985. Provides for a civil penalty of $50,000 for violations of law in connection with reverse mortgage loans made to elderly persons. Requires the penalty to be paid into the Community Senior Services and Resources Fund. Effective immediately.

Bill status signed all 5 stages cleared

Introduction

Mar 2004

Committee Review

Apr 2004

House Passage

May 2004

Senate Passage

May 2004

Signed into Law

Aug 2004

Introduced Mar 31, 2004 Signed Aug 5, 2004

Floor votes · Senate May 11, 2004 · House Mar 30, 2004

How they voted

53–0

Passed · 3 other

Total votes 56

May 11, 2004

D Democratic30

29 Yea 1

96% Yea

R Republican26

24 Yea 2

92% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Aug 5, 2004

Signed into law

Governor Approved

lower

May 11, 2004

Lower · Passed

Passed Both Houses

lower

May 11, 2004

Senate · Passed

Senate Vote: pass (53-0-3)

senate

Apr 22, 2004

Upper · Passed

Do Pass Financial Institutions; 006-000-000

upper

Apr 15, 2004

Committee

Assigned to Financial Institutions

upper

Apr 6, 2004

Committee

Referred to Rules

upper

Mar 31, 2004

Introduced

Arrive in Senate

upper

Mar 30, 2004

House · Passed

House Vote: pass (114-0-1)

house

Mar 25, 2004

Lower · Passed

House Floor Amendment No. 1 Adopted by Voice Vote

lower

Mar 25, 2004

Lower · Passed

House Floor Amendment No. 1 Recommends Be Adopted Rules Committee; 004-000-000

lower

Mar 23, 2004

Committee

House Floor Amendment No. 1 Referred to Rules Committee

lower

Mar 23, 2004

Introduced

House Floor Amendment No. 1 Filed with Clerk by Rep. Michael K. Smith

lower

Mar 3, 2004

Lower · Passed

Do Pass / Short Debate Consumer Protection Committee; 011-000-000

lower

Feb 18, 2004

Committee

Assigned to Consumer Protection Committee

lower

Feb 5, 2004

Committee

Referred to Rules Committee

lower

0 primary · 3 co-sponsors