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<xml>
<title>Illinois General Assembly - Bill Status for HB 5031         </title>
<shortdesc>CONSUMER LEGAL-REFINANCING</shortdesc>
<sponsor>
<sponsorhead1>House Sponsors</sponsorhead1><sponsors>Rep. Curtis J. Tarver, II</sponsors>
</sponsor>
<lastaction>
<statusdate>1/7/2025</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>815 ILCS 121/25</reference><aliasreference></aliasreference><reference>815 ILCS 121/30</reference><aliasreference></aliasreference><reference>815 ILCS 121/165</reference><aliasreference></aliasreference><SynopsisText>     Amends the Consumer Legal Funding Act. Provides that, notwithstanding any other law, a consumer legal funding may be refinanced as authorized by rule. Provides that the Department of Financial and Professional Regulation shall publish first notice of a rule concerning the refinancing of consumer legal fundings in the Illinois Register in accordance with the Illinois Administrative Procedure Act within 120 days after the effective date of the amendatory Act. Authorizes the Department to adopt rules to permit the refinancing of consumer legal fundings. Makes conforming changes to contract disclosures.</SynopsisText></synopsis>
<actions>
<statusdate>2/7/2024</statusdate><chamber>House</chamber><action>Filed with the Clerk by Rep. Curtis J. Tarver, II</action>
<statusdate>2/8/2024</statusdate><chamber>House</chamber><action>First Reading</action>
<statusdate>2/8/2024</statusdate><chamber>House</chamber><action>Referred to Rules Committee</action>
<statusdate>2/28/2024</statusdate><chamber>House</chamber><action>Assigned to Financial Institutions and Licensing Committee</action>
<statusdate>3/5/2024</statusdate><chamber>House</chamber><action>Do Pass / Short Debate Financial Institutions and Licensing Committee;  007-004-000</action>
<statusdate>3/6/2024</statusdate><chamber>House</chamber><action>Placed on Calendar 2nd Reading - Short Debate</action>
<statusdate>4/12/2024</statusdate><chamber>House</chamber><action>Second Reading - Short Debate</action>
<statusdate>4/12/2024</statusdate><chamber>House</chamber><action>Placed on Calendar Order of 3rd Reading - Short Debate</action>
<statusdate>4/19/2024</statusdate><chamber>House</chamber><action>Rule 19(a) / Re-referred to Rules Committee</action>
<statusdate>1/7/2025</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</actions>
</xml>

