Bankruptcy Legislation - Illinois

REGULATION-TECH Amends the Public Utilities Act. Makes a technical change in a Section concerning the reading of meters. House Amendment No. 1 Deletes reference to: 220 ILCS 5/8-302Adds reference to: 220 ILCS 5/16-131 new Replaces everything after the enacting clause. Amends the Electric Service Customer Choice and Rate Relief Law of 1997 in the Public Utilities Act. Provides that the Illinois Commerce Commission shall implement and maintain a consumer education program for energy [...]

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CIV PRO/TREAS-COLLEGE SAVINGS Amends the State Treasurer Act to provide that moneys held in an account invested in the Illinois College Savings Pool shall be exempt from all claims of the creditors of the participant, donor, or designated beneficiary of that account, except for non-exempt College Savings Pool transfers to or from the account. Defines "participant" and "donor". Amends the Code of Civil Procedure. Provides that moneys held in an account invested in the Illinois College Savings Pool of which the debtor is a participant or donor is personal property that is exempt from judgment, attachment, or distress from rent except for: (i) contributions to the account made with the intent to hinder, delay, or defraud any creditor, (ii) certain contributions to the account made during the 365 day period prior to the date of the debtor filing for bankruptcy in excess of the annual gift tax exclusion; or (iii) certain contributions to the account made during the 730 to 366 day [...]

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CONDO-MANAGER LICENSE Amends the Condominium Property Act. Requires licensing of managers of community associations. Creates the Community Association Manager Regulatory Commission, whose members are appointed by the Governor, to administer the licensing. Requires the payment of fees. Sets forth licensing requirements. Provides for discipline and other matters. Amends the State Finance Act to create a special fund. Effective July 1, 2009. House Amendment No. 1 Deletes reference to: 30 ILCS 105/5.675 new765 ILCS 605/18.7 new

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HUMAN RTS, FAIRNESS IN LENDING Creates the Mortgage Steering Act. Prohibits mortgage loan steering or other specified fee and loan practices, based upon (i) the borrower's credit history, (ii) the borrower's capacity to repay the loan, and (iii) the property on which the loan is secured, because of that borrower’s race, gender, age, disability, or national origin. Provides that the Attorney General shall enforce the Act and grants the Attorney General the additional listed enforcement powers. Provides for injunctive relief, restitution, and civil penalties for violations of the Act. Provides that a person who suffers actual damages as a result of a violation of the Act by a lender may bring an action against that lender and may be awarded actual economic damages or any other relief that the court deems proper. Provides that any waiver or modification of the rights, provisions, or remedies of the Act shall be void and unenforceable. Senate Committee Amendment No. 1

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HUMAN RTS, FAIRNESS IN LENDING Creates the Mortgage Steering Act. Prohibits mortgage loan steering or other specified fee and loan practices, based upon (i) the borrower's credit history, (ii) the borrower's capacity to repay the loan, and (iii) the property on which the loan is secured, because of that borrower’s race, gender, age, disability, or national origin. Provides that the Attorney General shall enforce the Act and grants the Attorney General the additional listed enforcement powers. Provides for injunctive relief, restitution, and civil penalties for violations of the Act. Provides that a person who suffers actual damages as a result of a violation of the Act by a lender may bring an action against that lender and may be awarded actual economic damages or any other relief that the court deems proper. Provides that any waiver or modification of the rights, provisions, or remedies of the Act shall be void and unenforceable. Senate Committee Amendment No. 1

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REGULATION-TECH Amends the Public Utilities Act. Makes a technical change in a Section concerning the reading of meters. House Amendment No. 1 Deletes reference to: 220 ILCS 5/8-302Adds reference to: 220 ILCS 5/16-131 new Replaces everything after the enacting clause. Amends the Electric Service Customer Choice and Rate Relief Law of 1997 in the Public Utilities Act. Provides that the Illinois Commerce Commission shall implement and maintain a consumer education program for energy [...]

show full description

CIV PRO/TREAS-COLLEGE SAVINGS Amends the State Treasurer Act to provide that moneys held in an account invested in the Illinois College Savings Pool shall be exempt from all claims of the creditors of the participant, donor, or designated beneficiary of that account, except for non-exempt College Savings Pool transfers to or from the account. Defines "participant" and "donor". Amends the Code of Civil Procedure. Provides that moneys held in an account invested in the Illinois College Savings Pool of which the debtor is a participant or donor is personal property that is exempt from judgment, attachment, or distress from rent except for: (i) contributions to the account made with the intent to hinder, delay, or defraud any creditor, (ii) certain contributions to the account made during the 365 day period prior to the date of the debtor filing for bankruptcy in excess of the annual gift tax exclusion; or (iii) certain contributions to the account made during the 730 to 366 day [...]

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CONDO-MANAGER LICENSE Amends the Condominium Property Act. Requires licensing of managers of community associations. Creates the Community Association Manager Regulatory Commission, whose members are appointed by the Governor, to administer the licensing. Requires the payment of fees. Sets forth licensing requirements. Provides for discipline and other matters. Amends the State Finance Act to create a special fund. Effective July 1, 2009. House Amendment No. 1 Deletes reference to: 30 ILCS 105/5.675 new765 ILCS 605/18.7 new

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