Amends the Illinois Housing Development Act to authorize the Illinois Housing Authority to establish and administer a foreclosure prevention counseling program using moneys in the Foreclosure Prevention Counseling Fund, appropriated for that purpose, to make grants to HUD-certified housing counseling agencies to support pre-purchase and post-purchase home ownership education and foreclosure prevention counseling. Amends the State Finance Act to create the Foreclosure Prevention Counseling Fund from moneys received from the foreclosure prevention surcharge collected under the Residential Mortgage License Act of 1987. Provides that 75% of the moneys in this Fund shall be used for housing counseling outside Chicago and 25% of the moneys shall be used for such counseling in Chicago. Amends the Residential Mortgage License Act of 1987 to increase the investigation and application fees from $2,700 to $3,000. Effective immediately.
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Amends the Consumer Installment Loan Act. Makes a technical change in a Section concerning a license required to engage in the business of making loans of money in a principal amount not exceeding $25,000.
Creates the Foreclosed Home Receiver License Act. Provides for the licensure of a receiver of a home foreclosed on by a mortgagee that is a bank. Provides that upon possession of a foreclosed home, a licensee under the Act shall hold onto and preserve all remaining personal property of the mortgagor or former occupant, with certain exceptions, for at least 30 days or until the mortgagor or occupant releases his or her claim to the property in writing, whichever occurs sooner. Provides that the receiver must post a public notice containing certain specified information related to how the personal property may be reclaimed by the mortgagor or former occupant. Provides that the Department of Financial and Professional Regulation shall adopt rules to administer the provisions of the Act. Sets forth powers and duties of the Department, licensure requirements, grounds for discipline, civil and criminal penalties for violation of the Act, and administrative procedure. Includes provisions concerning exemption from the Act. Amends the Regulatory Sunset Act to set a repeal date of January 1, 2021 for the new Act. Amends the Code of Civil Procedure to make corresponding changes in provisions concerning the appointment of receivers. Effective immediately.
Amends the Revised Cities and Villages Act of 1941. With respect to nomination petitions of candidates for Chicago alderman, (i) makes the minimum number of petition signatures 500 (now, equal to 2% of the total ward vote for that office in the most recent general municipal election or, after redistricting, 2% of the mayoral vote in the most recent general municipal election divided by the number of wards), (ii) prohibits the enforcement of a maximum number of petition signatures, and (iii) prohibits a person from signing the petitions of more than one candidate for the same aldermanic office at the same primary. Effective immediately.
Amends the Chicago Teacher Article of the Illinois Pension Code. Limits what the board of the pension and retirement fund may reimburse for the cost of health care insurance coverage to 75% of the cost for recipients of a service retirement, disability retirement, or survivor's pension and removes other provisions limiting the reimbursement. Effective immediately.
Amends the Public Safety Employee Benefits Act. Provides that the health insurance benefits provided by the Act apply without regard to whether the employee suffered a catastrophic injury or was killed in the line of duty before, on, or after the effective date of the Act.
Amends the Election Code. Applies the provisions governing the use of absentee ballots by nursing home residents to residents of supportive living facilities and assisted living and shared housing arrangements. Effective immediately.
Amends the Illinois Vehicle Code. Provides that the Secretary of State shall contract with a private entity to develop a system for generating and administering corporate-sponsored license plates. Provides that the corporate-sponsored license plates shall display the name, likeness, or logo of Illinois companies, and the corporate-sponsored license plate may not display the name, likeness, or logo of more than one company. Provides that the private entity and the company displaying its name, likeness, or logo shall submit a design for the plate to the Secretary of State, who shall have the authority to approve or reject any design. Provides that an applicant for the special plate shall be charged a $25 fee for original issuance and renewal in addition to the appropriate registration fee. Provides that for each original issuance and renewal, the private entity shall be charged $75, and the private entity may collect this fee from the company displaying its name, likeness, or logo on the plate. Provides that the Secretary of State is not required to issue corporate-sponsored license plates until a sufficient number of applications have been received to cover the total costs of issuance.
Amends the Credit Card Marketing Act of 2009. Provides that a credit card issuer who complies with or is exempt from the applicable college student credit card marketing requirements of the federal Truth in Lending Act and the regulations promulgated under that Act shall be deemed to be in compliance with or exempt from all of the provisions of the Credit Card Marketing Act of 2009. Amends the Illinois Financial Services Development Act. Provides that a financial institution that complies with or is exempt from the specified federal statutory and regulations standards shall be deemed to be in compliance with or exempt from all of specified provisions of the Act. Amends the Credit Card Issuance Act. Provides that a credit card issuer who complies with or is exempt from the applicable credit card application, solicitation, and periodic statement disclosure requirements of the federal Truth in Lending Act and the regulations promulgated under that Act shall be deemed to be in compliance with or exempt from all of the specified provisions of the Credit Card Issuance Act. Provides that a credit card issuer who complies with or is exempt from the applicable consumer credit card issuance requirements of the federal Truth in Lending Act and the regulations promulgated under that Act pertaining to credit cards issued to persons under the age of 21 shall be deemed to be in compliance with or exempt from all of the specified provisions of the Credit Card Issuance Act. Effective immediately.
Amends the Chicago Teacher Article of the Illinois Pension Code. In provisions concerning increases in teacher's and retired member's pensions, changes the amount of the annual increase from 3% to 4%. Effective immediately.