FORECLOSED HOME RECEIVERS House SponsorsRep. Joseph M. Lyons, Luis Arroyo and Daniel J. Burke Senate Sponsors(Sen. Iris Y. Martinez-Jacqueline Y. Collins) 1/11/2011HouseSession Sine Die New Act5 ILCS 80/4.31 new735 ILCS 5/15-1702from Ch. 110, par. 15-1702735 ILCS 5/15-1704from Ch. 110, par. 15-1704 Creates the Foreclosed Home Receiver License Act. Provides for the licensure of a receiver of a home foreclosed on by a mortgagee that is a bank. Provides that upon possession of a foreclosed home, a licensee under the Act shall hold onto and preserve all remaining personal property of the mortgagor or former occupant, with certain exceptions, for at least 30 days or until the mortgagor or occupant releases his or her claim to the property in writing, whichever occurs sooner. Provides that the receiver must post a public notice containing certain specified information related to how the personal property may be reclaimed by the mortgagor or former occupant. Provides that the Department of Financial and Professional Regulation shall adopt rules to administer the provisions of the Act. Sets forth powers and duties of the Department, licensure requirements, grounds for discipline, civil and criminal penalties for violation of the Act, and administrative procedure. Includes provisions concerning exemption from the Act. Amends the Regulatory Sunset Act to set a repeal date of January 1, 2021 for the new Act. Amends the Code of Civil Procedure to make corresponding changes in provisions concerning the appointment of receivers. Effective immediately.House Floor Amendment No. 1 Deletes reference to:735 ILCS 5/15-17045 ILCS 80/4.31 newAdds reference to:5 ILCS 80/4.31Deletes everything after the enacting clause and reinserts the bill as introduced, with the following changes: in the Foreclosed Home Receiver License Act, changes the definition of "foreclosed home receiver" to mean any person who acts as a receiver of a home foreclosed on by a bank or trust or any person to whom a receiver delegates managerial functions concerning a home foreclosed on by a bank or trust; defines "trust"; provides that a public posting must include certain specified language; removes certain exemption from the Act; provides that a full or part-time employee of a bank or trust who acts as a receiver of homes foreclosed on by that bank or trust shall be exempt from licensure under the Act, but must comply with certain provisions concerning personal property and public posting under the Act; changes the definition of "home"; makes other changes; in the Code of Civil Procedure, provides that if the mortgagee is a bank or trust, then the mortgagee may only appoint a foreclosed home receiver that is licensed under the Foreclosed Home Receiver License Act; and removes changes to a provision concerning receivers. Effective immediately.Senate Committee Amendment No. 1 Deletes reference to:5 ILCS 80/4.31735 ILCS 5/15-1702Adds reference to:735 ILCS 5/15-1508from Ch. 110, par. 15-1508Deletes everything after the enacting clause. Amends the Code of Civil Procedure. Makes a change to the required language in a notice that is sent to the mortgagor of a foreclosed property. Provides that the Act takes effect 60 days after becoming law. 2/11/2010HouseFiled with the Clerk by Rep. Joseph M. Lyons 2/11/2010HouseFirst Reading 2/11/2010HouseReferred to Rules Committee 2/17/2010HouseAssigned to Business & Occupational Licenses Committee 2/24/2010HouseAdded Co-Sponsor Rep. Luis Arroyo 2/25/2010HouseAdded Co-Sponsor Rep. Daniel J. Burke 3/3/2010HouseDo Pass / Short Debate Business & Occupational Licenses Committee; 014-000-000 3/3/2010HousePlaced on Calendar 2nd Reading - Short Debate 3/23/2010HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Joseph M. Lyons 3/23/2010HouseHouse Floor Amendment No. 1 Referred to Rules Committee 3/24/2010HouseHouse Floor Amendment No. 1 Recommends Be Adopted Rules Committee; 004-000-000 3/24/2010HouseSecond Reading - Short Debate 3/24/2010HouseHouse Floor Amendment No. 1 Adopted by Voice Vote 3/24/2010HousePlaced on Calendar Order of 3rd Reading - Short Debate 3/26/2010HouseThird Reading - Short Debate - Passed 061-041-000 4/6/2010SenateArrive in Senate 4/6/2010SenatePlaced on Calendar Order of First Reading 4/6/2010SenateChief Senate Sponsor Sen. Iris Y. Martinez 4/6/2010SenateFirst Reading 4/6/2010SenateReferred to Assignments 4/13/2010SenateAssigned to Financial Institutions 4/22/2010SenatePostponed - Financial Institutions 4/23/2010SenateRule 2-10 Committee Deadline Established As May 7, 2010 4/28/2010SenateAdded as Alternate Chief Co-Sponsor Sen. Jacqueline Y. Collins 4/28/2010SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Iris Y. Martinez 4/28/2010SenateSenate Committee Amendment No. 1 Referred to Assignments 4/29/2010SenateSenate Committee Amendment No. 1 Assignments Refers to Financial Institutions 4/29/2010SenateSenate Committee Amendment No. 1 Adopted 4/29/2010SenateDo Pass as Amended Financial Institutions; 010-000-000 4/29/2010SenatePlaced on Calendar Order of 2nd Reading April 30, 2010 4/30/2010SenateSecond Reading 4/30/2010SenatePlaced on Calendar Order of 3rd Reading May 3, 2010 6/27/2010SenatePursuant to Senate Rule 3-9(b) / Referred to Assignments 1/11/2011HouseSession Sine Die