Fabio
91 lines
5.1 KiB
Markdown
91 lines
5.1 KiB
Markdown
---
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type: "Bill"
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title: "SECURITIES SUIT TIME LIMIT"
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description: "Amends language in the Illinois Securities Law of 1953 providing that the 3-year period for seeking specified relief under the Act begins to run on the earlier of the date the party bringing the action has actual knowledge of the alleged violation or the date the party bringing the action has notice of facts which in the exercise of reasonable diligence would lead to actual knowledge of the alleged violation. Deletes language providing that the period of limitation may not be extended more than 2 years beyond the expiration of the 3-year period. Effective immediately."
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jurisdiction: "us/states/il"
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legislature: "Illinois General Assembly"
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session: "98th"
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identifier: "HB 2969"
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citation: "Illinois HB 2969 (98th)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: []
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version_count: 3
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action_count: 30
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vote_count: 2
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first_action: "2013-02-26"
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last_action: "2013-08-05"
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source: "openstates"
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source_identifier: "ocd-bill/a2ae1e92-2d78-4717-8a6d-93dde845c0a6"
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source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=2969&GAID=12&DocTypeID=HB&LegId=74819&SessionID=85&GA=98"
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source_hash: "1f70ada86d5ecd71b6f48ee601d3259775a53ac1047db6e718f392b6efec14d3"
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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 HB 2969 (98th) — SECURITIES SUIT TIME LIMIT
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Amends language in the Illinois Securities Law of 1953 providing that the 3-year period for seeking specified relief under the Act begins to run on the earlier of the date the party bringing the action has actual knowledge of the alleged violation or the date the party bringing the action has notice of facts which in the exercise of reasonable diligence would lead to actual knowledge of the alleged violation. Deletes language providing that the period of limitation may not be extended more than 2 years beyond the expiration of the 3-year period. 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](http://ilga.gov/legislation/fulltext.asp?DocName=09800HB2969&GA=98&SessionId=85&DocTypeId=HB&LegID=74819&DocNum=2969&GAID=12&Session=&print=true)
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2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09800HB2969eng&GA=98&SessionId=85&DocTypeId=HB&LegID=74819&DocNum=2969&GAID=12&Session=&print=true)
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3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09800HB2969enr&GA=98&SessionId=85&DocTypeId=HB&LegID=74819&DocNum=2969&GAID=12&Session=&print=true)
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## Votes
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- Third Reading — **51–7** (pass) · upper
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- Third Reading — **93–21** (pass) · lower
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## Sponsors
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- Ira I. Silverstein — cosponsor (person)
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- Mike Smiddy — primary (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2013-02-26** Filed with the Clerk by Rep. Mike Smiddy `filing`
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- **2013-02-26** First Reading `reading-1`
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- **2013-02-26** Referred to Rules Committee `referral-committee`
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- **2013-03-04** Assigned to State Government Administration Committee `referral-committee`
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- **2013-03-13** Do Pass / Short Debate State Government Administration Committee; 018-002-000 `committee-passage`
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- **2013-03-14** Placed on Calendar 2nd Reading - Short Debate
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- **2013-03-15** Second Reading - Short Debate `reading-2`
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- **2013-03-15** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2013-04-03** Added Co-Sponsor Rep. Emanuel Chris Welch
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- **2013-04-15** Third Reading - Short Debate - Passed 093-021-001 `reading-3, passage`
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- **2013-04-15** Added Chief Co-Sponsor Rep. Jack D. Franks
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- **2013-04-15** Added Chief Co-Sponsor Rep. Keith Farnham
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- **2013-04-15** Added Chief Co-Sponsor Rep. Carol A. Sente
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- **2013-04-16** Arrive in Senate `introduction`
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- **2013-04-16** Placed on Calendar Order of First Reading April 17, 2013 `reading-1`
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- **2013-04-30** Chief Senate Sponsor Sen. Steve Stadelman
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- **2013-04-30** Added as Alternate Co-Sponsor Sen. Ira I. Silverstein
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- **2013-05-01** First Reading `reading-1`
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- **2013-05-01** Referred to Assignments `referral-committee`
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- **2013-05-01** Assigned to Judiciary `referral-committee`
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- **2013-05-08** Do Pass Judiciary; 012-000-000 `committee-passage`
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- **2013-05-08** Placed on Calendar Order of 2nd Reading May 9, 2013
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- **2013-05-21** Second Reading `reading-2`
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- **2013-05-21** Placed on Calendar Order of 3rd Reading May 22, 2013
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- **2013-05-22** Third Reading - Passed; 051-007-000 `reading-3, passage`
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- **2013-05-22** Passed Both Houses
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- **2013-06-19** Sent to the Governor `executive-receipt`
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- **2013-08-05** Governor Approved `executive-signature`
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- **2013-08-05** Effective Date August 5, 2013
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- **2013-08-05** Public Act . . . . . . . . . 98-0174 `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/a2ae1e92-2d78-4717-8a6d-93dde845c0a6`. Confidence: reported (aggregated from official Illinois legislature records).
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