Fabio
115 lines
6.2 KiB
Markdown
115 lines
6.2 KiB
Markdown
---
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type: "Bill"
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title: "HIGHER ED-COSIGNER LOANS"
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description: "Amends the Know Before You Owe Private Education Loan Act. Provides that the information regarding loans shall be provided to borrowers and cosigners (instead of just borrowers). Sets forth provisions for cosigner disclosure and notice, cosigner release, cosigner rights, what happens in the event of the bankruptcy or death of a cosigner, the total and permanent disability of a borrower or cosigner, refinancing, and modified or flexible repayment plans. Effective immediately."
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jurisdiction: "us/states/il"
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legislature: "Illinois General Assembly"
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session: "103rd"
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identifier: "SB 86"
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citation: "Illinois SB 86 (103rd)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: ["Katie Stuart", "Laura Fine"]
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version_count: 4
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action_count: 42
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vote_count: 5
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first_action: "2023-01-20"
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last_action: "2024-08-02"
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source: "openstates"
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source_identifier: "ocd-bill/527e9a7e-b10e-41fb-8ec3-b460dcd19c5a"
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source_url: "https://beta.ilga.gov/Legislation/BillStatus?DocNum=86&GAID=17&DocTypeID=SB&LegId=143370&SessionID=112"
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source_hash: "fdfc7dde54890197254178be2b4fecb48d8aa518b5abb10df2c4ba64c6529a38"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-il"]
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---
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# Illinois SB 86 (103rd) — HIGHER ED-COSIGNER LOANS
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Amends the Know Before You Owe Private Education Loan Act. Provides that the information regarding loans shall be provided to borrowers and cosigners (instead of just borrowers). Sets forth provisions for cosigner disclosure and notice, cosigner release, cosigner rights, what happens in the event of the bankruptcy or death of a cosigner, the total and permanent disability of a borrower or cosigner, refinancing, and modified or flexible repayment plans. Effective immediately.
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **Introduced** (filed) — [source](https://beta.ilga.gov/documents/legislation/103/SB/PDF/10300SB0086.pdf)
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2. **Engrossed** (committee substitute) — [source](https://beta.ilga.gov/documents/legislation/103/SB/PDF/10300SB0086eng.pdf)
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3. **Senate Amendment 001** (committee substitute) — [source](https://beta.ilga.gov/documents/legislation/103/SB/PDF/10300SB0086sam001.pdf)
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4. **Enrolled** (enrolled) — [source](https://beta.ilga.gov/documents/legislation/103/SB/PDF/10300SB0086enr.pdf)
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## Votes
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- Third Reading — **55–0** (pass) · lower
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- Higher Education — **11–0** (pass) · lower
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- Third Reading — **112–0** (pass) · lower
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- Higher Education — **11–0** (pass) · lower
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- Higher Education, Amendment 1 — **10–0** (pass) · lower
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## Sponsors
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- Katie Stuart — primary (person)
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- Laura Fine — primary (person)
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- Adriane Johnson — cosponsor (person)
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- Anna Moeller — cosponsor (person)
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- Cristina H. Pacione-Zayas — cosponsor (person)
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- Diane Blair-Sherlock — cosponsor (person)
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- Gregg Johnson — cosponsor (person)
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- Mike Simmons — cosponsor (person)
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- Norma Hernandez — cosponsor (person)
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- Will Guzzardi — cosponsor (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2023-01-20** Filed with Secretary by Sen. Laura Fine `filing`
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- **2023-01-20** First Reading `reading-1`
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- **2023-01-20** Referred to Assignments
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- **2023-01-31** Assigned to Higher Education `referral-committee`
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- **2023-02-22** Do Pass Higher Education; 011-000-000
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- **2023-02-22** Placed on Calendar Order of 2nd Reading February 23, 2023 `reading-2`
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- **2023-03-03** Senate Floor Amendment No. 1 Filed with Secretary by Sen. Laura Fine `amendment-introduction`
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- **2023-03-03** Senate Floor Amendment No. 1 Referred to Assignments
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- **2023-03-07** Senate Floor Amendment No. 1 Assignments Refers to Higher Education
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- **2023-03-22** Senate Floor Amendment No. 1 Recommend Do Adopt Higher Education; 010-000-000
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- **2023-03-23** Second Reading `reading-2`
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- **2023-03-23** Senate Floor Amendment No. 1 Adopted; Fine `amendment-passage`
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- **2023-03-23** Placed on Calendar Order of 3rd Reading March 24, 2023
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- **2023-03-24** Third Reading - Passed; 055-000-000 `passage, reading-3`
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- **2023-03-24** Added as Co-Sponsor Sen. Cristina H. Pacione-Zayas
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- **2023-03-24** Arrived in House `introduction`
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- **2023-03-24** Chief House Sponsor Rep. Katie Stuart
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- **2023-03-24** Added as Chief Co-Sponsor Sen. Adriane Johnson
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- **2023-03-24** Added as Co-Sponsor Sen. Mike Simmons
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- **2023-03-24** First Reading `reading-1`
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- **2023-03-24** Referred to Rules Committee
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- **2023-04-11** Assigned to Higher Education Committee `referral-committee`
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- **2023-04-19** Do Pass / Short Debate Higher Education Committee; 011-000-000
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- **2023-04-20** Placed on Calendar 2nd Reading - Short Debate `reading-2`
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- **2023-05-03** Second Reading - Short Debate `reading-2`
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- **2023-05-03** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2023-05-12** Third Reading/Final Action Deadline Extended-9(b) May 19, 2023
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- **2023-05-19** Third Reading/Final Action Deadline Extended-9(b) May 31, 2023
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- **2023-05-31** Rule 19(a) / Re-referred to Rules Committee
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- **2024-04-17** Added Alternate Co-Sponsor Rep. Diane Blair-Sherlock
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- **2024-04-17** Added Alternate Co-Sponsor Rep. Will Guzzardi
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- **2024-04-17** Added Alternate Co-Sponsor Rep. Gregg Johnson
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- **2024-04-17** Added Alternate Co-Sponsor Rep. Anna Moeller
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- **2024-04-18** Added Alternate Co-Sponsor Rep. Norma Hernandez
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- **2024-04-24** Approved for Consideration Rules Committee; 005-000-000
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- **2024-04-24** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2024-05-09** Third Reading - Short Debate - Passed 112-000-000 `passage, reading-3`
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- **2024-05-09** Passed Both Houses
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- **2024-06-07** Sent to the Governor `executive-receipt`
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- **2024-08-02** Governor Approved `executive-signature`
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- **2024-08-02** Effective Date August 2, 2024
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- **2024-08-02** Public Act . . . . . . . . . 103-0748 `became-law`
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/527e9a7e-b10e-41fb-8ec3-b460dcd19c5a`. Confidence: reported (aggregated from official Illinois legislature records).
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