# Illinois HB4302: INTEREST-PREPAYMENT PENALTY

Illinois HB4302, INTEREST-PREPAYMENT PENALTY, is a 104th General Assembly (2025–2026) House bill sponsored by Daniel Didech (Democratic); status in committee, last action 2026-03-27 (Rule 19(a) / Re-referred to Rules Committee) (as of 2026-11-01).

- Canonical: https://policyrisk.com/state-bill/IL-HB4302-2025-2026
- As of: 2026-11-01
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Illinois HB4302
- State: Illinois
- Session: 104th General Assembly (2025–2026)
- Title: INTEREST-PREPAYMENT PENALTY
- Status: in committee
- Chamber: House
- Introduced: 2026-01-06
- Last action: 2026-03-27, Rule 19(a) / Re-referred to Rules Committee
- Sponsor: Daniel Didech (Democratic)
- Cosponsors: 2
- Subjects: financial institutions and licensing
- Touches household money: no
- Economic provisions PRIA read: 0

## Summary

Amends the Interest Act. Provides that, whenever the rate of interest exceeds an annual percentage rate of 8% on any written contract, agreement or bond for deed providing for the installment purchase of residential real estate made primarily for personal, family, or household purposes (rather than for the installment purchase of residential real estate), or on any loan secured by a mortgage on residential real estate made primarily for personal, family, or household purposes (rather than on any loan secured by a mortgage on residential real estate), it shall be unlawful to provide for a prepayment penalty or other charge for prepayment.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Daniel Didech (Democratic), House
- Cosponsor: Michael J. Kelly (Democratic), House
- Cosponsor: Rick Ryan (Democratic), House

## Actions (7)

- 2026-03-27: Rule 19(a) / Re-referred to Rules Committee (House)
- 2026-02-11: Assigned to Financial Institutions and Licensing Committee (House)
- 2026-01-21: Added Co-Sponsor Rep. Michael J. Kelly (House)
- 2026-01-21: Added Co-Sponsor Rep. Rick Ryan (House)
- 2026-01-14: Referred to Rules Committee (House)
- 2026-01-14: First Reading (House)
- 2026-01-06: Filed with the Clerk by Rep. Daniel Didech (House)

## Bill text

- Introduced: [PDF](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB4302.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
- [Introduced (PDF)](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB4302.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-HB4302-2025-2026 (as of 2026-11-01).