Substitute for Raised S.B. No. 1033
Session Year 2023


To (1) redefine "APR" and "small loan", (2) define "finance charge", (3) require additional persons to obtain small loan licenses, (4) provide that certain small loan requirements apply to loans that are between five thousand and fifty thousand dollars, (5) provide that certain small loans shall not provide for an advance exceeding unpaid principal of fifty thousand dollars, (6) redefine "goods" and "sales finance company", (7) establish that guaranteed asset protection waivers are cancellable, (8) provide that certain qualified public depository reports shall be certified under oath unless such reports are filed electronically, (9) provide that certain persons shall not engage the services of certain lead generators, and (10) eliminate a requirement that certain persons demonstrate an ability to supervise mortgage servicing offices in person.

Introduced by:
Banking Committee

 New today  2-4 days old  5 days & older

Co-sponsors for Amendment LCO:

Bill History

 Date Action Taken
 6/29/2023Signed by the Governor
 6/22/2023Transmitted by Secretary of the State to Governor
 6/22/2023Transmitted to the Secretary of State
 6/15/2023(LCO)Public Act 23-126
 6/6/2023In Concurrence
 6/6/2023House Passed as Amended by Senate Amendment Schedule A
 6/6/2023House Adopted Senate Amendment Schedule A
 6/2/2023House Calendar Number 626
 6/2/2023Favorable Report, Tabled for the Calendar, House
 5/31/2023Senate Passed as Amended by Senate Amendment Schedule A
 5/31/2023Senate Adopted Senate Amendment Schedule A 8726
 3/23/2023(LCO)File Number 209
 3/23/2023Senate Calendar Number 137
 3/23/2023Favorable Report, Tabled for the Calendar, Senate
 3/23/2023(LCO)Reported Out of Legislative Commissioners' Office
 3/17/2023(LCO)Referred to Office of Legislative Research and Office of Fiscal Analysis 03/22/23 5:00 PM
 3/8/2023(LCO)Filed with Legislative Commissioners' Office
 3/7/2023(BA)Joint Favorable Substitute
 2/28/2023Public Hearing 03/02
 2/17/2023Public Hearing 02/21
 2/16/2023Referred to Joint Committee on Banking

Co-sponsors of SB-1033

Sen. Patricia Billie Miller, 27th Dist.
Rep. Tom Delnicki, 14th Dist.

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