IllinoisHB4814104th General Assembly (2025–2026)House

DEBT MANAGEMENT LICENSE & FEES

Sponsored By: Sponsor information unavailable

Passed

Summary

Amends the Debt Management Service Act. Provides that every applicant for a license to engage in the debt management service business in the State shall submit to the Secretary, at the time of the application for a license, a bond to be approved by the Secretary in which the applicant shall be the obligor, in the sum of $50,000 (rather than $25,000) or the specified amount. In provisions concerning fees or penalties that may be charged by a debt management service provider, permits the charging of additional fees at the completion of the initial counseling services, which shall not exceed: (A) 15% of the amount disbursed monthly to creditors or $75, whichever is less, if there are fewer than 6 creditors enrolled in the debt management plan; or (B) 15% of the amount disbursed monthly to creditors or $100, whichever is less, if there are 6 or more creditors enrolled in the debt management plan.

financial institutions and licensingassignments

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsors

There is no primary sponsor on record.

Cosponsors

  • Daniel Didech

    Affiliation unavailable

  • Don Harmon

    Affiliation unavailable

  • Jawaharial Williams

    Affiliation unavailable

  • Justin Cochran

    Affiliation unavailable

Roll Call Votes

All Roll Calls

Yes: 96 • No: 34

House vote 4/14/2026

Third Reading - Short Debate - Passed

Yes: 74 • No: 34

House vote 4/7/2026

House Floor Amendment No. 1 Recommends Be Adopted Financial Institutions and Licensing Committee;

Yes: 10 • No: 0

House vote 3/24/2026

Do Pass / Short Debate Financial Institutions and Licensing Committee;

Yes: 12 • No: 0

Actions Timeline

  1. Senate Floor Amendment No. 1 Pursuant to Senate Rule 3-9(b) / Referred to Assignments

    7/2/2026Senate
  2. Rule 3-9(a) / Re-referred to Assignments

    6/1/2026Senate
  3. Rule 2-10 Third Reading Deadline Established As May 31, 2026

    5/22/2026Senate
  4. Senate Floor Amendment No. 1 Assignments Refers to Executive

    5/21/2026Senate
  5. Placed on Calendar Order of 3rd Reading May 25, 2026

    5/21/2026Senate
  6. Second Reading

    5/21/2026Senate
  7. Senate Floor Amendment No. 1 Referred to Assignments

    5/20/2026Senate
  8. Senate Floor Amendment No. 1 Filed with Secretary by Sen. Mark L. Walker

    5/20/2026Senate
  9. Alternate Chief Sponsor Changed to Sen. Don Harmon

    5/20/2026Senate
  10. Placed on Calendar Order of 2nd Reading May 21, 2026

    5/20/2026Senate
  11. Approved for Consideration Assignments

    5/20/2026Senate
  12. Referred to Assignments

    4/15/2026Senate
  13. First Reading

    4/15/2026Senate
  14. Chief Senate Sponsor Sen. Mark L. Walker

    4/15/2026Senate
  15. Placed on Calendar Order of First Reading

    4/15/2026Senate
  16. Arrive in Senate

    4/15/2026Senate
  17. Third Reading - Short Debate - Passed 074-034-000

    4/14/2026House
  18. Placed on Calendar Order of 3rd Reading - Short Debate

    4/14/2026House
  19. House Floor Amendment No. 1 Adopted

    4/14/2026House
  20. Held on Calendar Order of Second Reading - Short Debate

    4/10/2026House
  21. Second Reading - Short Debate

    4/10/2026House
  22. Added Chief Co-Sponsor Rep. Jawaharial Williams

    4/8/2026House
  23. House Floor Amendment No. 1 Recommends Be Adopted Financial Institutions and Licensing Committee; 010-000-000

    4/7/2026House
  24. Added Chief Co-Sponsor Rep. Justin Cochran

    4/6/2026House
  25. House Floor Amendment No. 1 Rules Refers to Financial Institutions and Licensing Committee

    3/26/2026House

Bill Text

  • Engrossed

  • House Amendment 1

  • Introduced

  • Senate Amendment 1

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