# Illinois HB2850: STUDENT LOAN SERVICING RIGHTS Illinois HB2850, STUDENT LOAN SERVICING RIGHTS, is a 104th General Assembly (2025–2026) House bill sponsored by Maurice A. West, II (Democratic); status in committee, last action 2025-04-11 (House Floor Amendment No. 2 Rule 19(c) / Re-referred to Rules Committee); PRIA reads it as touching household money (as of 2026-11-01). - Canonical: https://policyrisk.com/state-bill/IL-HB2850-2025-2026 - As of: 2026-11-01 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Illinois HB2850 - State: Illinois - Session: 104th General Assembly (2025–2026) - Title: STUDENT LOAN SERVICING RIGHTS - Status: in committee - Chamber: House - Introduced: 2025-02-05 - Last action: 2025-04-11, House Floor Amendment No. 2 Rule 19(c) / Re-referred to Rules Committee - Sponsor: Maurice A. West, II (Democratic) - Cosponsors: 1 - Subjects: financial institutions and licensing - Touches household money: yes - Roll calls: 2 (21 yes, 1 no in all) - Economic provisions PRIA read: 0 ## Summary Amends the Student Loan Servicing Rights Act. Creates within the Act an Article concerning educational income share agreements. Contains provisions concerning: monthly payment affordability; maximum annual percentage rates; limits on the duration of income share agreements; risk sharing; limits on covered income; fees; restrictions on security interests; discharge of obligations; prohibitions on cosigners; limits on acceleration; assignment of wages; limitations on garnishment; use of multiple agreements; required disclosures; early completion of the agreement; assumption of increases in future income; receipts; and adjustment of dollar amounts. Provides that the Attorney General may enforce a violation of the Educational Income Share Agreements Article of the Student Loan Servicing Rights Act as an unlawful practice under the Consumer Fraud and Deceptive Business Practices Act. Makes other changes. Amends the Consumer Installment Loan Act and the Interest Act to make conforming changes. Provides that the provisions of the amendatory Act are severable. Effective immediately. ## Bill overview No economic impacts identified for this bill. ## Sponsors and cosponsors - Sponsor: Maurice A. West, II (Democratic), House - Cosponsor: Camille Y. Lilly (Democratic), House ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2025-03-25 | House | House Floor Amendment No. 2 Recommends Be Adopted Financial Institutions and Licensing Committee; | pass | 10 | 0 | | | 2025-03-18 | House | Do Pass as Amended / Short Debate Financial Institutions and Licensing Committee; | pass | 11 | 1 | | ## Actions (19) - 2025-04-11: House Floor Amendment No. 2 Rule 19(c) / Re-referred to Rules Committee (House) - 2025-04-11: Rule 19(a) / Re-referred to Rules Committee (House) - 2025-04-09: Added Co-Sponsor Rep. Camille Y. Lilly (House) - 2025-03-26: Held on Calendar Order of Second Reading - Short Debate (House) - 2025-03-26: Second Reading - Short Debate (House) - 2025-03-25: House Floor Amendment No. 2 Recommends Be Adopted Financial Institutions and Licensing Committee; 010-000-000 (House) - 2025-03-25: House Floor Amendment No. 2 Rules Refers to Financial Institutions and Licensing Committee (House) - 2025-03-24: House Floor Amendment No. 2 Referred to Rules Committee (House) - 2025-03-24: House Floor Amendment No. 2 Filed with Clerk by Rep. Maurice A. West, II (House) - 2025-03-19: Placed on Calendar 2nd Reading - Short Debate (House) - 2025-03-18: Do Pass as Amended / Short Debate Financial Institutions and Licensing Committee; 011-001-000 (House) - 2025-03-18: House Committee Amendment No. 1 Adopted in Financial Institutions and Licensing Committee; by Voice Vote (House) - 2025-03-11: House Committee Amendment No. 1 Rules Refers to Financial Institutions and Licensing Committee (House) - 2025-03-07: House Committee Amendment No. 1 Referred to Rules Committee (House) - 2025-03-07: House Committee Amendment No. 1 Filed with Clerk by Rep. Maurice A. West, II (House) - 2025-03-04: Assigned to Financial Institutions and Licensing Committee (House) - 2025-02-06: Referred to Rules Committee (House) - 2025-02-06: First Reading (House) - 2025-02-05: Filed with the Clerk by Rep. Maurice A. West, II (House) ## Bill text - House Amendment 1: [PDF](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB2850ham001.pdf) - House Amendment 2: [PDF](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB2850ham002.pdf) - Introduced: [PDF](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB2850.pdf) ## Related bills - HB5198: AFFORDABLE HOUSING-CILAS (passed house) - SB1937: PENSION CODE-VARIOUS (passed senate) - HB2563: CONDO-RESERVE STUDY (in committee) - HB4701: LIMITATIONS FACILITY FEES ACT (in committee) - SB3008: DHS-ABLE PROGRAM INFO MATERIAL (passed senate) - SB3484: VEH CD-PLATES-REGISTRATION (signed) ## Sources - [House Amendment 1 (PDF)](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB2850ham001.pdf) - [House Amendment 2 (PDF)](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB2850ham002.pdf) - [Introduced (PDF)](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB2850.pdf) ## Related - [HB5198: AFFORDABLE HOUSING-CILAS](https://policyrisk.com/state-bill/IL-HB5198-2025-2026) - [SB1937: PENSION CODE-VARIOUS](https://policyrisk.com/state-bill/IL-SB1937-2025-2026) - [HB2563: CONDO-RESERVE STUDY](https://policyrisk.com/state-bill/IL-HB2563-2025-2026) - [HB4701: LIMITATIONS FACILITY FEES ACT](https://policyrisk.com/state-bill/IL-HB4701-2025-2026) - [SB3008: DHS-ABLE PROGRAM INFO MATERIAL](https://policyrisk.com/state-bill/IL-SB3008-2025-2026) - [SB3484: VEH CD-PLATES-REGISTRATION](https://policyrisk.com/state-bill/IL-SB3484-2025-2026) - [Illinois bills](https://policyrisk.com/states/illinois/bills) - [Illinois state hub](https://policyrisk.com/states/illinois) - [All state legislation](https://policyrisk.com/state-bills) Source: PRIA, https://policyrisk.com/state-bill/IL-HB2850-2025-2026 (as of 2026-11-01).