INSTALLMENT SALE NO INTEREST Senate SponsorsSen. David Koehler House Sponsors(Rep. Marcus C. Evans, Jr. and Peter Breen) 7/20/2018SenatePublic Act . . . . . . . . . 100-0626 765 ILCS 67/5Amends the Installment Sales Contract Act. Excludes from the scope of the term "installment sales contract" a financing arrangement for the transfer of residential real estate that for religious or cultural reasons does not allow for the imposition or collection of interest. Effective immediately.Senate Committee Amendment No. 1 Limits the exclusions added by the introduced bill to financing arrangements that are offered by a person, partnership, association, limited liability company, or corporation doing business under and as permitted by any law of this State or the United States relating to banks, savings and loan associations, savings banks, or credit unions. 2/16/2018SenateFiled with Secretary by Sen. David Koehler 2/16/2018SenateFirst Reading 2/16/2018SenateReferred to Assignments 2/27/2018SenateAssigned to Financial Institutions 3/6/2018SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. David Koehler 3/6/2018SenateSenate Committee Amendment No. 1 Referred to Assignments 3/13/2018SenateSenate Committee Amendment No. 1 Assignments Refers to Financial Institutions 4/11/2018SenateSenate Committee Amendment No. 1 Adopted 4/11/2018SenateDo Pass as Amended Financial Institutions; 007-000-000 4/11/2018SenatePlaced on Calendar Order of 2nd Reading April 12, 2018 4/19/2018SenateSecond Reading 4/19/2018SenatePlaced on Calendar Order of 3rd Reading April 23, 2018 4/24/2018SenateThird Reading - Passed; 053-000-000 4/24/2018HouseArrived in House 4/24/2018HouseChief House Sponsor Rep. Marcus C. Evans, Jr. 4/24/2018HouseFirst Reading 4/24/2018HouseReferred to Rules Committee 5/2/2018HouseAssigned to Judiciary - Civil Committee 5/9/2018HouseAdded Alternate Co-Sponsor Rep. Peter Breen 5/9/2018HouseTo Real & Personal Property Law Subcommittee 5/16/2018HouseRecommends Do Pass Subcommittee/ Judiciary - Civil Committee; 003-000-000 5/16/2018HouseReported Back To Judiciary - Civil Committee; 5/16/2018HouseDo Pass / Short Debate Judiciary - Civil Committee; 010-000-000 5/17/2018HousePlaced on Calendar 2nd Reading - Short Debate 5/21/2018HouseSecond Reading - Short Debate 5/21/2018HousePlaced on Calendar Order of 3rd Reading - Short Debate 5/25/2018HouseFinal Action Deadline Extended-9(b) May 31, 2018 5/29/2018HouseThird Reading - Short Debate - Passed 116-001-000 5/29/2018SenatePassed Both Houses 6/27/2018SenateSent to the Governor 7/20/2018SenateGovernor Approved 7/20/2018SenateEffective Date July 20, 2018 7/20/2018SenatePublic Act . . . . . . . . . 100-0626