Bill Sponsor
Illinois House Bill 779
Session 103rd
State Government-Tech
Became Law
Became Law
Became Law on Mar 22, 2024
Sponsors
Democrat
Nicholas K. Smith
Democrat
Elgie R. Sims, Jr.
First Action
Dec 6, 2022
Latest Action
Mar 22, 2024
Origin Chamber
House
Type
Bill
Bill Number
779
State
Illinois
Session
103rd
Sponsorship by Party
House Votes (1)
checkPassed on March 23, 2023
Motion Text
Third Reading
House Roll Call Votes
Summary
Amends the Civil Administrative Code of Illinois. Makes a technical change in a Section concerning the short title. House Floor Amendment No. 1 Deletes reference to: 20 ILCS 5/1-1 Adds reference to: New Act Replaces everything after the enacting clause. Creates the Reimagining Hotel Florence Act. Provides that notwithstanding any provision of law to the contrary, the Department of Natural Resources on behalf of the State may, pursuant to a competitive request for proposals process governed by the Illinois Procurement Code and rules adopted under that Code and this Act, enter into a public-private agreement to develop, finance, construct, lease, manage, or operate the Hotel Florence on behalf of the State, and further pursuant to which the contractors may receive certain revenues including management or user fees in consideration of the payment of moneys to the State for that right. Provides that the term of a public-private agreement shall be no less than 25 years and no more than 75 years. Provides that the competitive request for proposals process shall, at a minimum, solicit statements of qualification and proposals from offerors. Provides that the Department shall not include terms in the request for proposals that provide an advantage, whether directly or indirectly, to any contractor presently providing goods, services, or equipment to the Department. Provides that the Department shall issue a request for proposals within 6 months of the effective date of the Act. Provides that the Department shall have 6 months from the date of issuance of the request for proposals to select a contractor. Provides that the Department shall issue a request for proposals within 6 months of the effective date of the Act. Provides that the Department shall have 6 months from the date of issuance of the request for proposals to select a contractor. Provides for home rule preemption. Contains a severability provision. Effective immediately. Senate Floor Amendment No. 1 Adds reference to: 20 ILCS 3205/2.5 20 ILCS 3205/5 from Ch. 17, par. 455 205 ILCS 510/Act rep. 810 ILCS 5/9-201 from Ch. 26, par. 9-201 815 ILCS 505/2BBBB new Replaces everything after the enacting clause. Creates the Pawnbroker Regulation Act of 2023. Sets forth provisions concerning pawnbroker licensure, pawnbroker supervision, customer rights, and consumer fraud protections. Provides that there shall not be more than 250 active pawnbroker licenses at any one time within the State of Illinois, and that there shall not be more than 150 active pawnbroker licenses issued for specified counties at any one time. Sets forth provisions concerning licensee names, license application process, prohibited acts and practices, license issuance and renewal, license suspension and revocation, confidentiality of information, and record requirements. Sets forth the functions, powers, and duties of the Secretary of Financial and Professional Regulation. Defines terms. Preempts home rule powers. Makes a conforming change in the Consumer Fraud and Deceptive Business Practices Act. Makes corresponding changes in other provisions. Repeals the Pawnbroker Regulation Act. Effective immediately. Senate Floor Amendment No. 2 In a provision requiring the Department of Financial and Professional Regulation to issue a report, adds that the report shall contain the total number of defaulted pawn transactions reported to a credit bureau, the total number of defaulted pawn transactions sent to a collection agency, the total number of defaulted pawn transactions resulting in wage garnishment or legal action to collect, and the total number of pawn transactions reported to law enforcement. Provides that the Secretary of Financial and Professional Regulation may retain qualified persons to prepare and report findings identifying pawns and small dollar loans that are available to Illinois consumers, collecting and analyzing pawns and loan-level data for small dollar loans, and compiling aggregate data and trends for pawns and small dollar loans used by Illinois consumers. Provides that the Secretary shall make the report available to the Governor, the General Assembly, and the public. Provides that each pawnbroker may contract for and receive a monthly finance charge, including interest and fees not to exceed one-fifth of the pawn amount for pawns under $500; one-sixth of the pawn amount for pawns at or above $500 and less than $1,500 (instead of $500 or more and $1,500); one-eighth of the pawn amount for pawns at or above $1,500 and less than $5,000 (instead of over $1,500 and less than $5,000); and one-twentieth of the pawn amount for pawns at or above $5,000 (instead of over $5,000). Makes grammatical and technical corrections.
Sources
Record Created
Dec 13, 2022 6:42:26 AM
Record Updated
Apr 12, 2024 4:14:54 AM