PAYDAY LOAN-INTEREST RATE House SponsorsRep. Robert S. Molaro 1/13/2009HouseSession Sine Die 815 ILCS 122/1-10 Amends the Payday Loan Reform Act. Provides that no payday lender shall offer or make a consumer installment loan exceeding a double digit (99.99%) annual percentage rate from or upon the same location or premises as it offers or makes a payday loan. Provides that "payday loan" or "loan" means a loan with a finance charge exceeding a double digit (99.99%) annual percentage rate (instead of 36% for a term that does not exceed 120 days). 12/21/2007HouseFiled with the Clerk by Rep. Robert S. Molaro 12/24/2007HouseFirst Reading 12/24/2007HouseReferred to Rules Committee 1/13/2009HouseSession Sine Die