+ − Summary
+ − Full Texts (3)
+ − Actions (43)
- Public Act . . . . . . . . . 101-0586
- Governor Approved
- Effective Date August 26, 2019
- Sent to the Governor
- Passed Both Houses
- Senate Concurs
- House Floor Amendment No. 1 Senate Concurs 058-000-000
- House Floor Amendment No. 1 Motion To Concur Recommended Do Adopt Financial Institutions; 006-000-000
- House Floor Amendment No. 1 Motion to Concur Assignments Referred to Financial Institutions
- Secretary's Desk - Concurrence House Amendment(s) 1
- Third Reading - Short Debate - Passed 072-044-001
- House Floor Amendment No. 1 Motion to Concur Filed with Secretary Sen. Kimberly A. Lightford
- Placed on Calendar Order of Concurrence House Amendment(s) 1 - May 23, 2019
- House Floor Amendment No. 1 Motion to Concur Referred to Assignments
- Placed on Calendar Order of 3rd Reading - Short Debate
- House Floor Amendment No. 1 Adopted
- Second Reading - Short Debate
- House Floor Amendment No. 1 Recommends Be Adopted Rules Committee; 004-000-000
- House Floor Amendment No. 1 Referred to Rules Committee
- House Floor Amendment No. 1 Filed with Clerk by Rep. Carol Ammons
- Do Pass / Short Debate Higher Education Committee; 011-007-000
- Placed on Calendar 2nd Reading - Short Debate
- Assigned to Higher Education Committee
- Referred to Rules Committee
- First Reading
- Chief House Sponsor Rep. Carol Ammons
- Arrived in House
- Third Reading - Passed; 058-000-000
- Placed on Calendar Order of 3rd Reading
- Senate Floor Amendment No. 1 Adopted; Lightford
- Recalled to Second Reading
- Senate Floor Amendment No. 1 Recommend Do Adopt Financial Institutions; 008-000-000
- Senate Floor Amendment No. 1 Assignments Refers to Financial Institutions
- Senate Floor Amendment No. 1 Referred to Assignments
- Senate Floor Amendment No. 1 Filed with Secretary by Sen. Kimberly A. Lightford
- Placed on Calendar Order of 3rd Reading March 7, 2019
- Second Reading
- Placed on Calendar Order of 2nd Reading
- Do Pass Financial Institutions; 008-000-000
- Assigned to Financial Institutions
- Referred to Assignments
- First Reading
- Filed with Secretary by Sen. Kimberly A. Lightford
+ − Adopted Amendments (2)
House Amendment 001
Provides that "student loan servicer" or "servicer" includes persons or entities acting on behalf of the State Treasurer. Modifies findings and purpose provisions.
Senate Amendment 001
Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with changes. Creates the Student Investment Account Act (currently, the Student Loan Investment Act). Adds a provision concerning the use of earnings from the Student Investment Account. Modifies provisions concerning the establishment, operation, and administration of the Student Investment Account by the State Treasurer, and adds requirements concerning income share agreements and income share agreement providers. Allows the State Treasurer to enter into income share agreements with participants (currently, borrowers) and to facilitate such arrangements between participants and eligible income share agreement providers (currently, lenders). Provides that the State Treasurer or his or her designee (currently, only State Treasurer) may charge and collect insurance premiums under the Act. Provides for the creation and use of specified Funds as non-appropriated separate and apart trust funds in the State Treasury (currently, Funds to be held outside of the State Treasury with the State Treasurer as custodian). Amends the Student Loan Servicing Rights Act. Provides that the term "student loan servicer" does not include, among other entities, the State Treasurer (currently, the State Treasurer and its agents when the agents are acting on the State Treasurer's behalf). Modifies and defines terms. Makes other changes. Effective immediately.
+ − Proposed Amendments (2)
+ − Statutes Amended (3)
- New Act -
- 15 ILCS 520/22.5 - from Ch. 130, par. 41a
- 110 ILCS 992/1-5 -