BUSINESS-TECH Senate SponsorsSen. Jacqueline Y. Collins-Karen McConnaughay 1/10/2017SenateSession Sine Die 815 ILCS 120/1from Ch. 17, par. 851Amends the Illinois Fairness in Lending Act. Makes a technical change in a Section concerning the short title.Senate Committee Amendment No. 1 Deletes reference to:815 ILCS 120/1Adds reference to:New Act30 ILCS 105/6z-26Replaces everything after the enacting clause. Creates the Small Business Lending Act. Contains findings and definitions. Provides that a lender that offers or makes a small business loan, buys a whole or partial interest in a small business loan, arranges a small business loan for a third party, or acts as an agent for a third party in making a small business loan must obtain a license from the Department of Financial and Professional Regulation. Contains provisions regarding: license applications, fees, issuance or denial, renewal, revocation, and surrender; surety bonds; appointments for service of process; investigations by the Department; advertising for small business loans; options for loan payments; loan refinancing; enforcement and penalties; powers of attorney; pledging or sale of loans; documentation from prospective borrowers; referrals; disclosures; prepayment of loans; verification of proposed loan agreements; civil actions; judicial review; partial invalidity; and other matters. Amends the State Finance Act relating to the Financial Institution Fund to provide for disposition of moneys received under the Small Business Lending Act. 2/17/2016SenateFiled with Secretary by Sen. Jacqueline Y. Collins 2/17/2016SenateFirst Reading 2/17/2016SenateReferred to Assignments 4/6/2016SenateAssigned to Financial Institutions 4/6/2016SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Jacqueline Y. Collins 4/6/2016SenateSenate Committee Amendment No. 1 Referred to Assignments 4/7/2016SenateAdded as Chief Co-Sponsor Sen. Karen McConnaughay 4/8/2016SenateRule 2-10 Committee Deadline Established As April 22, 2016 4/12/2016SenateSenate Committee Amendment No. 1 Assignments Refers to Financial Institutions 4/13/2016SenateSenate Committee Amendment No. 1 Adopted 4/13/2016SenateDo Pass as Amended Financial Institutions; 008-000-002 4/13/2016SenatePlaced on Calendar Order of 2nd Reading April 14, 2016 4/22/2016SenateRule 2-10 Committee/3rd Reading Deadline Established As May 13, 2016 5/13/2016SenateRule 2-10 Committee/3rd Reading Deadline Established As May 27, 2016 5/27/2016SenateRule 2-10 Committee/3rd Reading Deadline Established As May 31, 2016 5/31/2016SenateRule 2-10 Committee/3rd Reading Deadline Established As December 31, 2016 7/31/2016SenatePursuant to Senate Rule 3-9(b) / Referred to Assignments 1/10/2017SenateSession Sine Die