HB 5148

Abstract

Amends the Illinois Vehicle Code. Changes the fees charged for inclusion in the Dealer Recovery Trust Fund to $50 (instead of $500 for the applicant's established place of business, and $50 for each additional place of business, if any, and half those amounts if the application is made after June 15 of any year). Provides that in any year for which the balance in the Fund as of August 31st is greater than $1,500,000 (instead of $3,500,000), the Fund Administrator shall notify the Secretary of State and the Secretary shall suspend collection of the fee for the following year for any dealer who meets certain criteria. Provides that no award for a claim from the Fund shall exceed $25,000 (instead of $35,000).