republic-os/legislation/us/states/il/97th/sb-1603.md

type, title, description, jurisdiction, legislature, session, identifier, citation, classification, subjects, status, primary_sponsors, version_count, action_count, vote_count, first_action, last_action, source, source_identifier, source_url, source_hash, vintage, source_snapshot, retrieved_at, confidence, tags

type	title	description	jurisdiction	legislature	session	identifier	citation	classification	subjects	status	primary_sponsors	version_count	action_count	vote_count	first_action	last_action	source	source_identifier	source_url	source_hash	vintage	source_snapshot	retrieved_at	confidence	tags
Bill	RESIDENTIAL MORTGAGE LOANS	Amends the Residential Mortgage License Act of 1987. In a provision concerning definitions, that an "exempt person or entity" shall also mean any person or entity that does not originate mortgage loans in the ordinary course of business, but makes or acquires residential mortgage loans with his or her own funds for his or her or its own investment without intent to make, acquire, or resell more than 3 residential mortgage loans in any one calendar year. Makes other changes. Effective immediately.	us/states/il	Illinois General Assembly	97th	SB 1603	Illinois SB 1603 (97th)	bill		enacted		3	29	2	2011-02-09	2011-07-14	openstates	ocd-bill/1cf3234d-5db8-4288-be2a-6af75ba524be	http://ilga.gov/legislation/BillStatus.asp?DocNum=1603&GAID=11&DocTypeID=SB&LegId=57505&SessionID=84&GA=97	5f53ae12093cd654224ef30836df1507b7baa5a15165c2b8bd0cb1080ef8c336	2026-07-01	https://data.openstates.org/daily/2026-07-01/public.pgdump	2026-07-06	reported	legislation bill us-il

Illinois SB 1603 (97th) — RESIDENTIAL MORTGAGE LOANS

Amends the Residential Mortgage License Act of 1987. In a provision concerning definitions, that an "exempt person or entity" shall also mean any person or entity that does not originate mortgage loans in the ordinary course of business, but makes or acquires residential mortgage loans with his or her own funds for his or her or its own investment without intent to make, acquire, or resell more than 3 residential mortgage loans in any one calendar year. Makes other changes. Effective immediately.

Version chain

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

1. Introduced (filed) — source
2. Engrossed (committee substitute) — source
3. Enrolled (enrolled) — source

Votes

• Third Reading — 114–0 (pass) · lower
• Third Reading — 55–0 (pass) · upper

Sponsors

• Michael W. Frerichs — primary (person)

Timeline

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

• 2011-02-09 Filed with Secretary by Sen. Michael W. Frerichs filing
• 2011-02-09 First Reading reading-1
• 2011-02-09 Referred to Assignments referral-committee
• 2011-02-23 Assigned to Financial Institutions referral-committee
• 2011-03-15 Senate Committee Amendment No. 1 Filed with Secretary by Sen. Michael W. Frerichs amendment-introduction
• 2011-03-15 Senate Committee Amendment No. 1 Referred to Assignments referral-committee
• 2011-03-16 Senate Committee Amendment No. 1 Assignments Refers to Financial Institutions
• 2011-03-17 Senate Committee Amendment No. 1 Adopted amendment-passage
• 2011-03-17 Do Pass as Amended Financial Institutions; 010-000-000 committee-passage
• 2011-03-17 Placed on Calendar Order of 2nd Reading March 29, 2011
• 2011-04-08 Second Reading reading-2
• 2011-04-08 Placed on Calendar Order of 3rd Reading April 11, 2011
• 2011-04-14 Third Reading - Passed; 055-000-000 reading-3, passage
• 2011-04-14 Arrived in House introduction
• 2011-04-14 Placed on Calendar Order of First Reading reading-1
• 2011-04-14 Chief House Sponsor Rep. Thomas Holbrook
• 2011-04-14 First Reading reading-1
• 2011-04-14 Referred to Rules Committee referral-committee
• 2011-05-03 Assigned to Housing Committee referral-committee
• 2011-05-12 Do Pass / Short Debate Housing Committee; 013-000-000 committee-passage
• 2011-05-12 Placed on Calendar 2nd Reading - Short Debate
• 2011-05-16 Second Reading - Short Debate reading-2
• 2011-05-16 Placed on Calendar Order of 3rd Reading - Short Debate
• 2011-05-17 Third Reading - Short Debate - Passed 114-000-000 reading-3, passage
• 2011-05-17 Passed Both Houses
• 2011-06-15 Sent to the Governor executive-receipt
• 2011-07-14 Governor Approved executive-signature
• 2011-07-14 Effective Date July 14, 2011
• 2011-07-14 Public Act . . . . . . . . . 97-0143 became-law

Source

OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/1cf3234d-5db8-4288-be2a-6af75ba524be. Confidence: reported (aggregated from official Illinois legislature records).