PAYDAY LOAN-INSTALLMENTS Senate SponsorsSen. Kimberly A. Lightford-Jacqueline Y. Collins House Sponsors(Rep. Lou Lang and Camille Y. Lilly) 8/16/2011SenatePublic Act . . . . . . . . . 97-0421 815 ILCS 505/12from Ch. 121 1/2, par. 272Amends the Consumer Fraud and Deceptive Business Practices Act. Makes a technical change in a Section concerning the short title.Senate Floor Amendment No. 1 Deletes reference to:815 ILCS 505/12Adds reference to:815 ILCS 122/2-5Replaces everything after the enacting clause. Amends the Payday Loan Reform Act. Limits finance charges when the first installment period is longer than the remaining installment periods. Provides that the term "consecutive days" does not include the date on which a consumer makes the final installment payment for purposes of determining eligibility. 2/8/2011SenateFiled with Secretary by Sen. John J. Cullerton 2/8/2011SenateFirst Reading 2/8/2011SenateReferred to Assignments 3/9/2011SenateAssigned to Executive 3/17/2011SenateDo Pass Executive; 015-000-000 3/17/2011SenatePlaced on Calendar Order of 2nd Reading March 17, 2011 3/17/2011SenateSecond Reading 3/17/2011SenatePlaced on Calendar Order of 3rd Reading March 29, 2011 4/8/2011SenateChief Sponsor Changed to Sen. Kimberly A. Lightford 4/11/2011SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Kimberly A. Lightford 4/11/2011SenateSenate Floor Amendment No. 1 Referred to Assignments 4/12/2011SenateSenate Floor Amendment No. 1 Assignments Refers to Financial Institutions 4/12/2011SenateSenate Floor Amendment No. 1 Recommend Do Adopt Financial Institutions; 009-000-000 4/13/2011SenateAdded as Chief Co-Sponsor Sen. Jacqueline Y. Collins 4/15/2011SenateRule 2-10 Third Reading Deadline Established As May 4, 2011 5/3/2011SenateRecalled to Second Reading 5/3/2011SenateSenate Floor Amendment No. 1 Adopted; Lightford 5/3/2011SenatePlaced on Calendar Order of 3rd Reading 5/3/2011SenateThird Reading - Passed; 054-000-000 5/4/2011HouseArrived in House 5/4/2011HousePlaced on Calendar Order of First Reading 5/4/2011HouseChief House Sponsor Rep. Lou Lang 5/4/2011HouseFirst Reading 5/4/2011HouseReferred to Rules Committee 5/11/2011HouseAssigned to Executive Committee 5/13/2011HouseCommittee Deadline Extended-Rule 9(b) May 20, 2011 5/16/2011HouseRe-assigned to Financial Institutions Committee 5/16/2011HouseMotion Filed to Suspend Rule 25 Financial Institutions Committee; Rep. Barbara Flynn Currie 5/16/2011HouseMotion to Suspend Rule 25 - Prevailed by Voice Vote 5/18/2011HouseDo Pass / Short Debate Financial Institutions Committee; 019-000-000 5/18/2011HousePlaced on Calendar 2nd Reading - Short Debate 5/19/2011HouseSecond Reading - Short Debate 5/19/2011HousePlaced on Calendar Order of 3rd Reading - Short Debate 5/20/2011HouseThird Reading - Short Debate - Passed 111-000-000 5/20/2011SenatePassed Both Houses 5/20/2011HouseAdded Alternate Co-Sponsor Rep. Camille Y. Lilly 6/17/2011SenateSent to the Governor 8/16/2011SenateGovernor Approved 8/16/2011SenateEffective Date January 1, 2012 8/16/2011SenatePublic Act . . . . . . . . . 97-0421