---
type: "Bill"
title: "BUY-NOW-PAY-LATER ACT"
description: "Creates the Buy-Now-Pay-Later Loan Regulation Act. Provides that it is unlawful for a person to act as a buy-now-pay-later lender unless the person registers with the Division of Financial Institutions of the Department of Financial and Professional Regulation. Sets forth requirements for registration; duties and powers of the Secretary of Financial and Professional Regulation; and administrative procedures. Provides that a buy-now-pay-lender shall provide specified disclosures to recipients. Provides that a violation of the Act constitutes an unlawful practice under the Consumer Fraud and Deceptive Business Practices Act. Amends the Consumer Fraud and Deceptive Business Practices Act to make a conforming change."
jurisdiction: "us/states/il"
legislature: "Illinois General Assembly"
session: "104th"
identifier: "SB 3561"
citation: "Illinois SB 3561 (104th)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["Michael E. Hastings", "Robert \"Bob\" Rita"]
version_count: 7
action_count: 68
vote_count: 7
first_action: "2026-02-05"
last_action: "2026-06-25"
source: "openstates"
source_identifier: "ocd-bill/07cfa0af-bcda-4c57-a739-49bca56599a7"
source_url: "https://ilga.gov/Legislation/BillStatus?DocNum=3561&GAID=18&DocTypeID=SB&LegId=166611&SessionID=114"
source_hash: "42f5c8997f5a1a2bdba073f6a8106525b0c3547da961ca3d4938648dfb2e3321"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-il"]
---

# Illinois SB 3561 (104th) — BUY-NOW-PAY-LATER ACT

Creates the Buy-Now-Pay-Later Loan Regulation Act. Provides that it is unlawful for a person to act as a buy-now-pay-later lender unless the person registers with the Division of Financial Institutions of the Department of Financial and Professional Regulation. Sets forth requirements for registration; duties and powers of the Secretary of Financial and Professional Regulation; and administrative procedures. Provides that a buy-now-pay-lender shall provide specified disclosures to recipients. Provides that a violation of the Act constitutes an unlawful practice under the Consumer Fraud and Deceptive Business Practices Act. Amends the Consumer Fraud and Deceptive Business Practices Act to make a conforming change.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Introduced** (filed) — [source](https://ilga.gov/documents/legislation/104/SB/PDF/10400SB3561.pdf)
2. **Engrossed** (committee substitute) — [source](https://ilga.gov/documents/legislation/104/SB/PDF/10400SB3561eng.pdf)
3. **Senate Amendment 001** (committee substitute) — [source](https://ilga.gov/documents/legislation/104/SB/PDF/10400SB3561sam001.pdf)
4. **Senate Amendment 002** (committee substitute) — [source](https://ilga.gov/documents/legislation/104/SB/PDF/10400SB3561sam002.pdf)
5. **Senate Amendment 003** (committee substitute) — [source](https://ilga.gov/documents/legislation/104/SB/PDF/10400SB3561sam003.pdf)
6. **Senate Amendment 004** (committee substitute) — [source](https://ilga.gov/documents/legislation/104/SB/PDF/10400SB3561sam004.pdf)
7. **Enrolled** (enrolled) — [source](https://ilga.gov/documents/legislation/104/SB/PDF/10400SB3561enr.pdf)

## Votes

- Judiciary — **9–0** (pass) · upper
- Judiciary, Amendment 3 — **8–0** (pass) · upper
- Judiciary — **9–0** (pass) · upper
- Third Reading — **116–0** (pass) · lower
- Third Reading — **56–0** (pass) · upper
- Judiciary, Amendment 4 — **8–0** (pass) · upper
- Third Reading — **19–0** (pass) · lower

## Sponsors

- Michael E. Hastings — primary (person)
- Robert "Bob" Rita — primary (person)
- Adriane Johnson — cosponsor (person)
- Christopher Belt — cosponsor (person)
- Cristina Castro — cosponsor (person)
- Doris Turner — cosponsor (person)
- Graciela Guzmán — cosponsor (person)
- Mattie Hunter — cosponsor (person)
- Meg Loughran Cappel — cosponsor (person)
- Michael W. Halpin — cosponsor (person)
- Steve Stadelman — cosponsor (person)
- Suzy Glowiak Hilton — cosponsor (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2026-02-05** Filed with Secretary by Sen. Michael E. Hastings `filing`
- **2026-02-05** First Reading `reading-1`
- **2026-02-05** Referred to Assignments
- **2026-02-17** Assigned to Judiciary `referral-committee`
- **2026-03-09** Senate Committee Amendment No. 1 Filed with Secretary by Sen. Michael E. Hastings `amendment-introduction`
- **2026-03-09** Senate Committee Amendment No. 1 Referred to Assignments
- **2026-03-10** Senate Committee Amendment No. 1 Assignments Refers to Judiciary
- **2026-03-11** Senate Committee Amendment No. 1 Adopted `amendment-passage`
- **2026-03-11** Do Pass as Amended Judiciary; 009-000-000
- **2026-03-11** Placed on Calendar Order of 2nd Reading March 12, 2026 `reading-2`
- **2026-03-13** Added as Co-Sponsor Sen. Michael W. Halpin
- **2026-03-17** Added as Chief Co-Sponsor Sen. Christopher Belt
- **2026-03-20** Added as Chief Co-Sponsor Sen. Suzy Glowiak Hilton
- **2026-03-24** Added as Co-Sponsor Sen. Cristina Castro
- **2026-03-25** Added as Co-Sponsor Sen. Mattie Hunter
- **2026-03-26** Added as Co-Sponsor Sen. Doris Turner
- **2026-03-27** Added as Co-Sponsor Sen. Graciela Guzmán
- **2026-03-31** Added as Co-Sponsor Sen. Adriane Johnson
- **2026-04-13** Senate Floor Amendment No. 2 Filed with Secretary by Sen. Michael E. Hastings `amendment-introduction`
- **2026-04-13** Senate Floor Amendment No. 2 Referred to Assignments
- **2026-04-14** Senate Floor Amendment No. 2 Assignments Refers to Judiciary
- **2026-04-15** Senate Floor Amendment No. 2 Postponed - Judiciary
- **2026-04-17** Rule 2-10 Third Reading Deadline Established As May 8, 2026
- **2026-04-28** Second Reading `reading-2`
- **2026-04-28** Placed on Calendar Order of 3rd Reading April 29, 2026
- **2026-05-07** Added as Co-Sponsor Sen. Steve Stadelman
- **2026-05-08** Rule 2-10 Third Reading Deadline Established As May 15, 2026
- **2026-05-15** Senate Floor Amendment No. 3 Filed with Secretary by Sen. Michael E. Hastings `amendment-introduction`
- **2026-05-15** Senate Floor Amendment No. 3 Referred to Assignments
- **2026-05-15** Rule 3-9(a) / Re-referred to Assignments
- **2026-05-19** Rule 2-10 Committee/3rd Reading Deadline Established As May 22, 2026
- **2026-05-19** Approved for Consideration Assignments
- **2026-05-19** Placed on Calendar Order of 3rd Reading May 20, 2026
- **2026-05-19** Senate Floor Amendment No. 3 Assignments Refers to Judiciary
- **2026-05-20** Senate Floor Amendment No. 4 Filed with Secretary by Sen. Michael E. Hastings `amendment-introduction`
- **2026-05-20** Senate Floor Amendment No. 4 Referred to Assignments
- **2026-05-20** Senate Floor Amendment No. 4 Assignments Refers to Judiciary
- **2026-05-20** Senate Floor Amendment No. 2 Postponed - Judiciary
- **2026-05-20** Senate Floor Amendment No. 3 Recommend Do Adopt Judiciary; 008-000-000
- **2026-05-20** Senate Floor Amendment No. 4 Recommend Do Adopt Judiciary; 008-000-000
- **2026-05-21** Recalled to Second Reading `reading-2`
- **2026-05-21** Senate Floor Amendment No. 3 Adopted; Hastings `amendment-passage`
- **2026-05-21** Senate Floor Amendment No. 4 Adopted; Hastings `amendment-passage`
- **2026-05-21** Placed on Calendar Order of 3rd Reading
- **2026-05-21** Third Reading - Passed; 056-000-000 `passage, reading-3`
- **2026-05-21** Senate Floor Amendment No. 2 Tabled Pursuant to Rule 5-4(a) `amendment-failure`
- **2026-05-21** Added as Co-Sponsor Sen. Meg Loughran Cappel
- **2026-05-21** Arrived in House `introduction`
- **2026-05-21** Chief House Sponsor Rep. Robert "Bob" Rita
- **2026-05-21** First Reading `reading-1`
- **2026-05-21** Referred to Rules Committee
- **2026-05-21** Assigned to Judiciary - Civil Committee `referral-committee`
- **2026-05-21** Committee/Final Action Deadline Extended-9(b) May 31, 2026
- **2026-05-25** Moved to Suspend Rule 21 Rep. Elizabeth "Lisa" Hernandez
- **2026-05-25** Suspend Rule 21 - Prevailed 066-029-000
- **2026-05-27** Do Pass / Short Debate Judiciary - Civil Committee; 019-000-000
- **2026-05-27** Placed on Calendar 2nd Reading - Short Debate `reading-2`
- **2026-05-27** Second Reading - Short Debate `reading-2`
- **2026-05-27** Held on Calendar Order of Second Reading - Short Debate `reading-2`
- **2026-05-31** Placed on Calendar Order of 3rd Reading - Short Debate
- **2026-05-31** Third Reading/Final Action Deadline Extended-9(b) June 2, 2026
- **2026-06-01** 3/5 Vote Required
- **2026-06-01** Third Reading - Short Debate - Passed 116-000-000 `passage, reading-3`
- **2026-06-01** Passed Both Houses
- **2026-06-22** Sent to the Governor `executive-receipt`
- **2026-06-25** Governor Approved `executive-signature`
- **2026-06-25** Effective Date June 25, 2026
- **2026-06-25** Public Act . . . . . . . . . 104-0475 `became-law`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/07cfa0af-bcda-4c57-a739-49bca56599a7`. Confidence: reported (aggregated from official Illinois legislature records).