Fabio
115 lines
6.1 KiB
Markdown
115 lines
6.1 KiB
Markdown
---
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type: "Bill"
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title: "FIN REG-REVERSE MORT LOANS"
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description: "Amends the Illinois Banking Act and the Illinois Savings and Loan Act of 1985. Provides for a civil penalty of $50,000 for violations of law in connection with reverse mortgage loans made to elderly persons. Requires the penalty to be paid into the Community Senior Services and Resources Fund. Effective immediately."
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jurisdiction: "us/states/il"
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legislature: "Illinois General Assembly"
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session: "93rd"
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identifier: "HB 5197"
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citation: "Illinois HB 5197 (93rd)"
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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: 53
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vote_count: 2
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first_action: "2004-02-05"
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last_action: "2004-08-05"
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source: "openstates"
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source_identifier: "ocd-bill/9d2a41ad-8f9b-460b-b1d9-e781a6f43dc1"
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source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=5197&GAID=3&DocTypeID=HB&LegId=10128&SessionID=3&GA=93"
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source_hash: "bf531419fd81aff3bf6b78036cea4d81f32b844ae2a210b0e34389ece8974f8f"
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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 5197 (93rd) — FIN REG-REVERSE MORT LOANS
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Amends the Illinois Banking Act and the Illinois Savings and Loan Act of 1985. Provides for a civil penalty of $50,000 for violations of law in connection with reverse mortgage loans made to elderly persons. Requires the penalty to be paid into the Community Senior Services and Resources Fund. 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=09300HB5197&GA=93&SessionId=3&DocTypeId=HB&LegID=10128&DocNum=5197&GAID=3&Session=&print=true)
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2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09300HB5197eng&GA=93&SessionId=3&DocTypeId=HB&LegID=10128&DocNum=5197&GAID=3&Session=&print=true)
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3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09300HB5197enr&GA=93&SessionId=3&DocTypeId=HB&LegID=10128&DocNum=5197&GAID=3&Session=&print=true)
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## Votes
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- Third Reading — **56–0** (pass) · upper
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- Third Reading — **116–0** (pass) · lower
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## Sponsors
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- Edward D. Maloney — cosponsor (person)
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- Michael K. Smith — primary (person)
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- Pamela J. Althoff — cosponsor (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2004-02-05** Filed with the Clerk by Rep. Michael K. Smith `filing`
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- **2004-02-05** First Reading `reading-1`
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- **2004-02-05** Referred to Rules Committee `referral-committee`
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- **2004-02-18** Assigned to Consumer Protection Committee `referral-committee`
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- **2004-02-24** Added Chief Co-Sponsor Rep. Ronald A. Wait
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- **2004-02-24** Added Chief Co-Sponsor Rep. Charles E. Jefferson
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- **2004-02-24** Added Chief Co-Sponsor Rep. Angelo Saviano
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- **2004-02-24** Added Chief Co-Sponsor Rep. Larry McKeon
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- **2004-03-02** Added Co-Sponsor Rep. Monique D. Davis
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- **2004-03-02** Added Co-Sponsor Rep. Mike Boland
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- **2004-03-03** Do Pass / Short Debate Consumer Protection Committee; 011-000-000 `committee-passage`
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- **2004-03-03** Placed on Calendar 2nd Reading - Short Debate
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- **2004-03-23** Added Co-Sponsor Rep. Brandon W. Phelps
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- **2004-03-23** House Floor Amendment No. 1 Filed with Clerk by Rep. Michael K. Smith `amendment-introduction`
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- **2004-03-23** House Floor Amendment No. 1 Referred to Rules Committee `referral-committee`
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- **2004-03-24** Added Co-Sponsor Rep. Harry Osterman
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- **2004-03-25** Added Co-Sponsor Rep. Suzanne Bassi
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- **2004-03-25** House Floor Amendment No. 1 Recommends Be Adopted Rules Committee; 004-000-000 `committee-passage-favorable`
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- **2004-03-25** Added Co-Sponsor Rep. Naomi D. Jakobsson
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- **2004-03-25** Added Co-Sponsor Rep. William Davis
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- **2004-03-25** Added Co-Sponsor Rep. Thomas Holbrook
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- **2004-03-25** Added Co-Sponsor Rep. Joseph M. Lyons
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- **2004-03-25** Added Co-Sponsor Rep. Ralph C. Capparelli
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- **2004-03-25** Second Reading - Short Debate `reading-2`
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- **2004-03-25** House Floor Amendment No. 1 Adopted by Voice Vote `amendment-passage`
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- **2004-03-25** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2004-03-26** Added Co-Sponsor Rep. Careen Gordon
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- **2004-03-26** Added Co-Sponsor Rep. Robert F. Flider
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- **2004-03-29** Added Co-Sponsor Rep. John E. Bradley
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- **2004-03-30** Added Co-Sponsor Rep. Robert Rita
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- **2004-03-30** Third Reading - Short Debate - Passed 116-000-000 `reading-3, passage`
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- **2004-03-30** Added Co-Sponsor Rep. Kathleen A. Ryg
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- **2004-03-30** Added Co-Sponsor Rep. Donald L. Moffitt
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- **2004-03-31** Arrive in Senate `introduction`
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- **2004-03-31** Placed on Calendar Order of First Reading April 1, 2004 `reading-1`
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- **2004-04-02** Chief Senate Sponsor Sen. George P. Shadid
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- **2004-04-06** First Reading `reading-1`
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- **2004-04-06** Referred to Rules `referral-committee`
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- **2004-04-15** Assigned to Financial Institutions `referral-committee`
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- **2004-04-22** Do Pass Financial Institutions; 006-000-000 `committee-passage`
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- **2004-04-22** Placed on Calendar Order of 2nd Reading April 27, 2004
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- **2004-04-23** Added as Alternate Chief Co-Sponsor Sen. Dale E. Risinger
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- **2004-04-28** Second Reading `reading-2`
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- **2004-04-28** Placed on Calendar Order of 3rd Reading April 29, 2004
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- **2004-05-04** Added as Alternate Chief Co-Sponsor Sen. Jacqueline Y. Collins
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- **2004-05-11** Added as Alternate Co-Sponsor Sen. Pamela J. Althoff
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- **2004-05-11** Added as Alternate Co-Sponsor Sen. Edward D. Maloney
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- **2004-05-11** Third Reading - Passed; 056-000-000 `reading-3, passage`
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- **2004-05-11** Passed Both Houses
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- **2004-06-09** Sent to the Governor `executive-receipt`
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- **2004-08-05** Governor Approved `executive-signature`
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- **2004-08-05** Effective Date August 5, 2004
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- **2004-08-05** Public Act . . . . . . . . . 93-0863 `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/9d2a41ad-8f9b-460b-b1d9-e781a6f43dc1`. Confidence: reported (aggregated from official Illinois legislature records).
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