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HB 5907 Illinois House · 99th Regular Session

ASSET PROTECTION WAIVERS

Summary
Creates the Guaranteed Asset Protection Waiver Act. Establishes standards to regulate persons offering guaranteed asset protection waivers. Provides for a period of time of at least 30 days from the effective date of the guaranteed asset protection waiver until the date the borrower may cancel the contract without penalty, fees, or costs to the borrower. Amends the Illinois Insurance Code to exempt guaranteed asset protection waivers from regulation as insurance.
Bill status failed 3 of 5 stages cleared
Introduction
Apr 2016
Committee Review
Jan 2017
House Passage
Apr 2016
Senate Passage
Governor
Introduced Apr 21, 2016 Last action Jan 10, 2017
Floor votes · House Apr 21, 2016

How they voted

112–0
Passed · 6 other
Total votes 118
Apr 21, 2016
D Democratic71
66 Yea 5
92% Yea
R Republican47
46 Yea 1
97% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
47
Key actions
6
Committee
13
Amendments
7
Jan 10, 2017
Introduced
Senate Floor Amendment No. 1 Postponed - State Government and Veterans Affairs
upper
Jan 9, 2017
Introduced
Senate Floor Amendment No. 1 Assignments Refers to State Government and Veterans Affairs
upper
Jan 9, 2017
Committee
Senate Floor Amendment No. 1 Referred to Assignments
upper
Jan 9, 2017
Introduced
Senate Floor Amendment No. 1 Filed with Secretary by Sen. Don Harmon
upper
Jan 1, 2017
Committee
Pursuant to Senate Rule 3-9(b) / Referred to Assignments
upper
May 27, 2016
Committee
Rule 3-9(a) / Re-referred to Assignments
upper
May 13, 2016
Upper · Passed
Rule 2-10 Committee Deadline Established As May 27, 2016
upper
May 3, 2016
Committee
Assigned to Financial Institutions
upper
Apr 22, 2016
Committee
Referred to Assignments
upper
Apr 21, 2016
Introduced
Arrive in Senate
upper
Apr 21, 2016
House · Passed
House Vote: pass (112-0-6)
house
Apr 20, 2016
Lower · Passed
House Floor Amendment No. 2 Adopted
lower
Apr 19, 2016
Lower · Passed
House Floor Amendment No. 2 Recommends Be Adopted Consumer Protection Committee; 015-000-000
lower
Apr 15, 2016
Lower · Passed
House Floor Amendment No. 2 Rules Refers to Consumer Protection Committee
lower
Apr 13, 2016
Committee
House Floor Amendment No. 2 Referred to Rules Committee
lower
Apr 13, 2016
Introduced
House Floor Amendment No. 2 Filed with Clerk by Rep. Anthony DeLuca
lower
Apr 4, 2016
Amended
House Committee Amendment No. 1 Tabled Pursuant to Rule 40
lower
Apr 4, 2016
Lower · Passed
Do Pass / Short Debate Consumer Protection Committee; 016-000-000
lower
Mar 28, 2016
Committee
House Committee Amendment No. 1 Referred to Rules Committee
lower
Mar 28, 2016
Introduced
House Committee Amendment No. 1 Filed with Clerk by Rep. Anthony DeLuca
lower
Mar 23, 2016
Committee
Assigned to Consumer Protection Committee
lower
Feb 11, 2016
Committee
Referred to Rules Committee
lower
0 primary · 1 co-sponsor

Sponsors

No sponsor information available.