SB 885

  • Illinois Senate Bill
  • 100th Regular Session
  • Introduced in Senate May 03, 2017
  • Passed Senate May 03, 2017
  • Passed House May 30, 2017
  • Became Law Aug 25, 2017

Installment Sales Contracts

Abstract

Repeals the Dwelling Structure Contract Act and the Dwelling Unit Installment Contract Act. Creates the Installment Sales Contract Act. Adds provisions governing: definitions; terms and conditions of installment sales contracts; applicability of other Acts; sales of condemned dwelling structures; repairs; account statements; transfer of payments; insurance proceeds; unlawful acts; waivers; and penalties. Makes corresponding changes in the Condominium Property Act. Amends the Code of Civil Procedure. Provides that a real estate installment contract for residential real estate is subject to the foreclosure provisions of the Code if the purchase price is to be paid in installments over a period in excess of one year (instead of 5 years) and the amount unpaid under the terms of the contract at the time of the filing of the foreclosure complaint, including principal and due and unpaid interest, at the rate prior to default, is less than 90% (instead of 80%) of the original purchase price of the real estate as stated in the contract. Effective January 1, 2018.

Bill Sponsors (8)

Votes


Actions


Aug 25, 2017

Senate

Effective Date January 1, 2018

Senate

Public Act . . . . . . . . . 100-0416

Senate

Governor Approved

Jun 29, 2017

Senate

Sent to the Governor

May 31, 2017

Senate

House Committee Amendment No. 2 Senate Concurs 054-000-000

Senate

House Committee Amendment No. 1 Senate Concurs 054-000-000

Senate

House Committee Amendment No. 3 Motion To Concur Recommended Do Adopt Licensed Activities and Pensions; 012-000-000

Senate

Passed Both Houses

Senate

Senate Concurs

Senate

House Committee Amendment No. 3 Senate Concurs 054-000-000

Senate

House Committee Amendment No. 2 Motion To Concur Recommended Do Adopt Licensed Activities and Pensions; 012-000-000

Senate

House Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Licensed Activities and Pensions; 012-000-000

Senate

House Committee Amendment No. 3 Motion to Concur Assignments Referred to Licensed Activities and Pensions

Senate

House Committee Amendment No. 2 Motion to Concur Assignments Referred to Licensed Activities and Pensions

Senate

House Committee Amendment No. 1 Motion to Concur Assignments Referred to Licensed Activities and Pensions

Senate

House Committee Amendment No. 3 Motion to Concur Referred to Assignments

Senate

House Committee Amendment No. 3 Motion to Concur Filed with Secretary Sen. David Koehler

Senate

House Committee Amendment No. 2 Motion to Concur Referred to Assignments

Senate

House Committee Amendment No. 2 Motion to Concur Filed with Secretary Sen. David Koehler

Senate

House Committee Amendment No. 1 Motion to Concur Referred to Assignments

Senate

House Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. David Koehler

Senate

Placed on Calendar Order of Concurrence House Amendment(s) 1, 2, 3 - May 31, 2017

Senate

Secretary's Desk - Concurrence House Amendment(s) 1, 2, 3

May 30, 2017

House

Third Reading - Short Debate - Passed 115-000-000

House

Added Alternate Co-Sponsor Rep. Marcus C. Evans, Jr.

House

Added Alternate Co-Sponsor Rep. Camille Y. Lilly

House

Added Alternate Co-Sponsor Rep. LaToya Greenwood

House

Added Alternate Co-Sponsor Rep. Barbara Flynn Currie

House

Added Alternate Co-Sponsor Rep. Michelle Mussman

House

Added Alternate Co-Sponsor Rep. Al Riley

May 26, 2017

House

Final Action Deadline Extended-9(b) May 31, 2017

May 24, 2017

House

Reported Back To Judiciary - Civil Committee;

House

Placed on Calendar Order of 3rd Reading - Short Debate

House

Recommends Do Pass Subcommittee/ Judiciary - Civil Committee; 003-000-000

House

Second Reading - Short Debate

House

Placed on Calendar 2nd Reading - Short Debate

House

Do Pass as Amended / Short Debate Judiciary - Civil Committee; 009-000-000

House

House Committee Amendment No. 3 Adopted in Judiciary - Civil Committee; by Voice Vote

House

House Committee Amendment No. 2 Adopted in Judiciary - Civil Committee; by Voice Vote

House

House Committee Amendment No. 1 Adopted in Judiciary - Civil Committee; by Voice Vote

May 23, 2017

House

House Committee Amendment No. 3 Rules Refers to Judiciary - Civil Committee

May 22, 2017

House

House Committee Amendment No. 3 Filed with Clerk by Rep. Jehan Gordon-Booth

House

House Committee Amendment No. 3 Referred to Rules Committee

May 19, 2017

House

House Committee Amendment No. 1 Committee Deadline Extended-Rule 9(b) May 26, 2017

House

House Committee Amendment No. 2 Committee Deadline Extended-Rule 9(b) May 26, 2017

House

Committee Deadline Extended-Rule 9(b) May 26, 2017

May 18, 2017

House

Added Alternate Chief Co-Sponsor Rep. Carol Ammons

House

House Committee Amendment No. 1 Rules Refers to Judiciary - Civil Committee

House

House Committee Amendment No. 2 Rules Refers to Judiciary - Civil Committee

House

Added Alternate Chief Co-Sponsor Rep. Michael Halpin

May 17, 2017

House

House Committee Amendment No. 2 Referred to Rules Committee

House

House Committee Amendment No. 2 Filed with Clerk by Rep. Jehan Gordon-Booth

House

House Committee Amendment No. 1 Referred to Rules Committee

House

House Committee Amendment No. 1 Filed with Clerk by Rep. Jehan Gordon-Booth

House

Added Alternate Chief Co-Sponsor Rep. La Shawn K. Ford

May 16, 2017

House

To Real & Personal Property Law Subcommittee

May 15, 2017

House

Assigned to Judiciary - Civil Committee

House

Added Alternate Co-Sponsor Rep. Emanuel Chris Welch

May 11, 2017

House

Added Alternate Chief Co-Sponsor Rep. Margo McDermed

May 09, 2017

House

Referred to Rules Committee

House

First Reading

May 03, 2017

Senate

Recalled to Second Reading

House

Chief House Sponsor Rep. Jehan Gordon-Booth

House

Arrived in House

Senate

Third Reading - Passed; 037-019-000

Senate

Added as Co-Sponsor Sen. Ira I. Silverstein

Senate

Added as Co-Sponsor Sen. Mattie Hunter

Senate

Placed on Calendar Order of 3rd Reading

Senate

Senate Floor Amendment No. 1 Adopted; Koehler

Apr 28, 2017

Senate

Rule 2-10 Third Reading Deadline Established As May 31, 2017

Apr 27, 2017

Senate

Senate Floor Amendment No. 1 Recommend Do Adopt Judiciary; 008-003-000

Apr 26, 2017

Senate

Placed on Calendar Order of 3rd Reading April 27, 2017

Senate

Second Reading

Apr 25, 2017

Senate

Added as Co-Sponsor Sen. Linda Holmes

Apr 07, 2017

Senate

Added as Co-Sponsor Sen. Melinda Bush

Apr 06, 2017

Senate

Senate Floor Amendment No. 1 Postponed - Judiciary

Apr 05, 2017

Senate

Senate Floor Amendment No. 1 Assignments Refers to Judiciary

Apr 04, 2017

Senate

Senate Floor Amendment No. 1 Referred to Assignments

Senate

Senate Floor Amendment No. 1 Filed with Secretary by Sen. David Koehler

Mar 15, 2017

Senate

Do Pass Judiciary; 011-000-000

Senate

Placed on Calendar Order of 2nd Reading March 16, 2017

Mar 09, 2017

Senate

Added as Chief Co-Sponsor Sen. Kimberly A. Lightford

Mar 02, 2017

Senate

Added as Co-Sponsor Sen. Cristina Castro

Mar 01, 2017

Senate

Postponed - Judiciary

Feb 16, 2017

Senate

Postponed - Judiciary

Senate

Added as Chief Co-Sponsor Sen. James F. Clayborne, Jr.

Feb 09, 2017

Senate

Added as Co-Sponsor Sen. Bill Cunningham

Feb 08, 2017

Senate

Added as Chief Co-Sponsor Sen. Iris Y. Martinez

Senate

Assigned to Judiciary

Senate

Added as Chief Co-Sponsor Sen. Jacqueline Y. Collins

Feb 07, 2017

Senate

First Reading

Senate

Referred to Assignments

Senate

Filed with Secretary by Sen. David Koehler

Bill Text

Bill Text Versions Format
Enrolled HTML
Engrossed HTML
Introduced HTML

Related Documents

Document Format
Public Act
House Amendment 003
House Amendment 002
House Amendment 001
Senate Amendment 001

Sources

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