ISAC-SALE OF LOANS-INT-FEES House SponsorsRep. Naomi D. Jakobsson-William B. Black-Lou Lang-Karen A. Yarbrough, Robert W. Pritchard, Kathleen A. Ryg, Chapin Rose and Shane Cultra Senate Sponsors(Sen. Richard J. Winkel, Jr.-Dale A. Righter-Cheryl Axley-David Luechtefeld, J. Bradley Burzynski, Larry K. Bomke, Bill Brady, Dan Rutherford and Christine Radogno) 1/9/2007HouseSession Sine Die 110 ILCS 947/140 Amends the Higher Education Student Assistance Act. Provides that if any of the Illinois Student Assistance Commission's student loans are sold or transferred to a private entity, then the private entity must offer the same interest and fee rate reduction plan on the loan that the Commission would have offered if the loan was held by the Commission. Effective immediately.House Amendment No. 1 Deletes everything after the enacting clause. Amends the Higher Education Student Assistance Act. Provides that if any of the Illinois Student Assistance Commission's student loans are sold or transferred to a private entity, then the private entity must offer an interest rate on the loan that is the same as or lower than the Commission offered at the time of sale or transfer and must offer the same fee reduction plan that was offered by the Commission at the time of sale or transfer. Effective immediately. 12/5/2005HouseFiled with the Clerk by Rep. Naomi D. Jakobsson 1/4/2006HouseFirst Reading 1/4/2006HouseReferred to Rules Committee 2/7/2006HouseAssigned to Higher Education Committee 2/15/2006HouseAdded Co-Sponsor Rep. Robert W. Pritchard 2/15/2006HouseHouse Amendment No. 1 Filed with Clerk by Higher Education Committee 2/15/2006HouseHouse Amendment No. 1 Adopted in Higher Education Committee; by Voice Vote 2/15/2006HouseDo Pass as Amended / Short Debate Higher Education Committee; 013-000-000 2/15/2006HousePlaced on Calendar 2nd Reading - Short Debate 2/16/2006HouseAdded Chief Co-Sponsor Rep. William B. Black 2/16/2006HouseAdded Chief Co-Sponsor Rep. Lou Lang 2/16/2006HouseSecond Reading - Short Debate 2/16/2006HousePlaced on Calendar Order of 3rd Reading - Short Debate 2/16/2006HouseAdded Chief Co-Sponsor Rep. Karen A. Yarbrough 2/21/2006HouseAdded Co-Sponsor Rep. Kathleen A. Ryg 2/21/2006HouseAdded Co-Sponsor Rep. Chapin Rose 2/21/2006HouseAdded Co-Sponsor Rep. Shane Cultra 2/21/2006HouseThird Reading - Short Debate - Passed 113-000-000 2/22/2006SenateArrive in Senate 2/22/2006SenatePlaced on Calendar Order of First Reading 2/22/2006SenateChief Senate Sponsor Sen. Richard J. Winkel, Jr. 2/22/2006SenateFirst Reading 2/22/2006SenateReferred to Rules 4/7/2006SenateAdded as Alternate Chief Co-Sponsor Sen. Dale A. Righter 4/7/2006SenateAdded as Alternate Chief Co-Sponsor Sen. Cheryl Axley 4/7/2006SenateAdded as Alternate Chief Co-Sponsor Sen. David Luechtefeld 4/7/2006SenateAdded as Alternate Co-Sponsor Sen. J. Bradley Burzynski 4/7/2006SenateAdded as Alternate Co-Sponsor Sen. Larry K. Bomke 4/7/2006SenateAdded as Alternate Co-Sponsor Sen. Bill Brady 4/7/2006SenateAdded as Alternate Co-Sponsor Sen. Dan Rutherford 4/7/2006SenateAdded as Alternate Co-Sponsor Sen. Christine Radogno 1/9/2007HouseSession Sine Die