TAX REFUND ANTICIPATION LOAN Senate SponsorsSen. Jacqueline Y. Collins, Toi W. Hutchinson-Jeffrey M. Schoenberg, Emil Jones, III-Mattie Hunter-Iris Y. Martinez, Pamela J. Althoff and Kimberly A. Lightford House Sponsors(Rep. Michael J. Zalewski-Carol A. Sente-Patrick J. Verschoore-Brandon W. Phelps and Daniel V. Beiser) 1/8/2013SenateSession Sine Die 205 ILCS 405/3.1from Ch. 17, par. 4805815 ILCS 177/1815 ILCS 177/5815 ILCS 177/10815 ILCS 177/15815 ILCS 177/20 new815 ILCS 177/25 new815 ILCS 177/30 new815 ILCS 177/35 new815 ILCS 505/2NNN newAmends the Tax Refund Anticipation Loan Disclosure Act. Changes the short title of the Act to the Tax Refund Anticipation Loan Reform Act. Makes changes concerning disclosure requirements, prohibited activities, interest rate limits for non-bank refund anticipation loans, and defined terms. Provides a calculation for the refund anticipation loan interest rate. Provides that a person who violates the Tax Refund Anticipation Loan Reform Act commits an unlawful practice under the Consumer Fraud and Deceptive Practices Act. Makes conforming changes in the Currency Exchange Act and the Consumer Fraud and Deceptive Business Practices Act. Contains a severability provision. Effective immediately.Senate Floor Amendment No. 3 Adds reference to:815 ILCS 177/40 newReplaces everything after the enacting clause with a version substantially identical to the bill as introduced. Provides that savings banks savings and loan association, banks, and credit unions operating under the laws of Illinois or the United States are not subject to the Act. Limits requirement to make certain disclosures to refund anticipation loans and checks. Effective immediately. 2/8/2012SenateFiled with Secretary by Sen. Jacqueline Y. Collins 2/8/2012SenateFirst Reading 2/8/2012SenateReferred to Assignments 2/22/2012SenateAssigned to Financial Institutions 2/24/2012SenateAdded as Co-Sponsor Sen. Toi W. Hutchinson 2/28/2012SenateAdded as Chief Co-Sponsor Sen. Jeffrey M. Schoenberg 3/1/2012SenateDo Pass Financial Institutions; 009-000-000 3/1/2012SenatePlaced on Calendar Order of 2nd Reading March 6, 2012 3/5/2012SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Jacqueline Y. Collins 3/5/2012SenateSenate Floor Amendment No. 1 Referred to Assignments 3/6/2012SenateSenate Floor Amendment No. 1 Assignments Refers to Financial Institutions 3/8/2012SenateSecond Reading 3/8/2012SenatePlaced on Calendar Order of 3rd Reading March 21, 2012 3/16/2012SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Jacqueline Y. Collins 3/16/2012SenateSenate Floor Amendment No. 2 Referred to Assignments 3/22/2012SenateSenate Floor Amendment No. 2 Assignments Refers to Financial Institutions 3/23/2012SenateAdded as Co-Sponsor Sen. Emil Jones, III 3/23/2012SenateSenate Floor Amendment No. 3 Filed with Secretary by Sen. Jacqueline Y. Collins 3/23/2012SenateSenate Floor Amendment No. 3 Referred to Assignments 3/26/2012SenateSenate Floor Amendment No. 3 Assignments Refers to Financial Institutions 3/27/2012SenateSenate Floor Amendment No. 1 Tabled in Financial Institutions 3/27/2012SenateSenate Floor Amendment No. 1 Tabled 3/27/2012SenateSenate Floor Amendment No. 2 Tabled in Financial Institutions 3/27/2012SenateSenate Floor Amendment No. 2 Tabled 3/27/2012SenateSenate Floor Amendment No. 3 Recommend Do Adopt Financial Institutions; 008-000-000 3/28/2012SenateAdded as Co-Sponsor Sen. Mattie Hunter 3/28/2012SenateSponsor Removed Sen. Mattie Hunter 3/28/2012SenateRecalled to Second Reading 3/28/2012SenateSenate Floor Amendment No. 3 Adopted; J. Collins 3/28/2012SenatePlaced on Calendar Order of 3rd Reading 3/28/2012SenateAdded as Chief Co-Sponsor Sen. Mattie Hunter 3/28/2012SenateAdded as Chief Co-Sponsor Sen. Iris Y. Martinez 3/28/2012SenateAdded as Co-Sponsor Sen. Pamela J. Althoff 3/28/2012SenateThird Reading - Passed; 052-000-000 3/29/2012HouseArrived in House 3/29/2012HouseChief House Sponsor Rep. Michael J. Zalewski 3/29/2012HousePlaced on Calendar Order of First Reading 3/29/2012HouseFirst Reading 3/29/2012HouseReferred to Rules Committee 4/17/2012HouseAdded Alternate Chief Co-Sponsor Rep. Carol A. Sente 4/18/2012HouseAdded Alternate Chief Co-Sponsor Rep. Patrick J. Verschoore 4/18/2012HouseAdded Alternate Chief Co-Sponsor Rep. Brandon W. Phelps 5/1/2012HouseAdded Alternate Co-Sponsor Rep. Daniel V. Beiser 5/30/2012SenateAdded as Co-Sponsor Sen. Kimberly A. Lightford 1/8/2013SenateSession Sine Die