IDFPR-RECORDING ACCOUNT House SponsorsRep. Thaddeus Jones 1/13/2021HouseSession Sine Die 20 ILCS 2105/2105-305 new Amends the Department of Professional Regulation Law of the Civil Administrative Code of Illinois. Requires the Department of Financial and Professional Regulation to create a recording account into which all earnest money payments made pursuant to real estate transactions in this State shall be deposited. Provides that the Department shall retain 3% of each deposit, which shall be paid to a brokerage firm determined by the Department to administer the recording account. Once a transaction for which the earnest money has been paid is completed, provides that the remainder of the buyer's moneys shall be returned to the buyer. Effective immediately. 2/14/2020HouseFiled with the Clerk by Rep. Thaddeus Jones 2/18/2020HouseFirst Reading 2/18/2020HouseReferred to Rules Committee 1/13/2021HouseSession Sine Die