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SB 3523 Illinois Senate · 97th Regular Session

TAX REFUND ANTICIPATION LOAN

Summary
Amends the Tax Refund Anticipation Loan Disclosure Act. Changes the short title of the Act to the Tax Refund Anticipation Loan Reform Act. Makes changes concerning disclosure requirements, prohibited activities, interest rate limits for non-bank refund anticipation loans, and defined terms. Provides a calculation for the refund anticipation loan interest rate. Provides that a person who violates the Tax Refund Anticipation Loan Reform Act commits an unlawful practice under the Consumer Fraud and Deceptive Practices Act. Makes conforming changes in the Currency Exchange Act and the Consumer Fraud and Deceptive Business Practices Act. Contains a severability provision. Effective immediately.
Bill status failed 3 of 5 stages cleared
Introduction
Mar 2012
Committee Review
Mar 2012
Senate Passage
Mar 2012
House Passage
Governor
Introduced Mar 29, 2012 Last action Jan 8, 2013
Floor votes · Senate Mar 28, 2012

How they voted

51–0
Passed · 7 other
Total votes 58
Mar 28, 2012
D Democratic34
32 Yea 2
94% Yea
R Republican24
19 Yea 5
79% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
46
Key actions
3
Committee
7
Amendments
12
Mar 29, 2012
Committee
Referred to Rules Committee
lower
Mar 29, 2012
Introduced
Arrived in House
lower
Mar 28, 2012
Upper · Passed
Senate Floor Amendment No. 3 Adopted; J. Collins
upper
Mar 28, 2012
Senate · Passed
Senate Vote: pass (51-0-7)
senate
Mar 27, 2012
Introduced
Senate Floor Amendment No. 3 Recommend Do Adopt Financial Institutions; 008-000-000
upper
Mar 27, 2012
Amended
Senate Floor Amendment No. 2 Tabled
upper
Mar 27, 2012
Amended
Senate Floor Amendment No. 2 Tabled in Financial Institutions
upper
Mar 27, 2012
Amended
Senate Floor Amendment No. 1 Tabled
upper
Mar 27, 2012
Amended
Senate Floor Amendment No. 1 Tabled in Financial Institutions
upper
Mar 26, 2012
Introduced
Senate Floor Amendment No. 3 Assignments Refers to Financial Institutions
upper
Mar 23, 2012
Committee
Senate Floor Amendment No. 3 Referred to Assignments
upper
Mar 23, 2012
Introduced
Senate Floor Amendment No. 3 Filed with Secretary by Sen. Jacqueline Y. Collins
upper
Mar 22, 2012
Introduced
Senate Floor Amendment No. 2 Assignments Refers to Financial Institutions
upper
Mar 16, 2012
Committee
Senate Floor Amendment No. 2 Referred to Assignments
upper
Mar 16, 2012
Introduced
Senate Floor Amendment No. 2 Filed with Secretary by Sen. Jacqueline Y. Collins
upper
Mar 6, 2012
Introduced
Senate Floor Amendment No. 1 Assignments Refers to Financial Institutions
upper
Mar 5, 2012
Committee
Senate Floor Amendment No. 1 Referred to Assignments
upper
Mar 5, 2012
Introduced
Senate Floor Amendment No. 1 Filed with Secretary by Sen. Jacqueline Y. Collins
upper
Mar 1, 2012
Upper · Passed
Do Pass Financial Institutions; 009-000-000
upper
Feb 22, 2012
Committee
Assigned to Financial Institutions
upper
Feb 8, 2012
Committee
Referred to Assignments
upper
0 primary · 2 co-sponsors

Sponsors

No sponsor information available.