2023-2024 Regular Session • Illinois Legislature
SB0086: HIGHER ED-COSIGNER LOANS
Legislative Summary
Reinserts the provisions of the introduced bill with the following changes. Moves specified provisions regarding cosigner release, cosigner rights, what happens in the event of the bankruptcy or death of a cosigner, the total and permanent disability of a borrower or cosigner, and modified or flexible repayment plans from the Know Before You Owe Private Education Loan Act to the Student Loan Servicing Rights Act, and makes conforming changes. Further amends the Student Loan Servicing Rights Act to change the definition of "cosigner". Effective immediately.
Bill History
1/20/2023
Filed with Secretary by Sen. Laura Fine
Senate
1/20/2023
First Reading
Senate
1/20/2023
Referred to Assignments
Senate
1/31/2023
Assigned to Higher Education
Senate
2/22/2023
Do Pass Higher Education; 011-000-000
Senate
2/22/2023
Placed on Calendar Order of 2nd Reading February 23, 2023
Senate
3/3/2023
Senate Floor Amendment No. 1 Filed with Secretary by Sen. Laura Fine
Senate
3/3/2023
Senate Floor Amendment No. 1 Referred to Assignments
Senate
3/7/2023
Senate Floor Amendment No. 1 Assignments Refers to Higher Education
Senate
3/22/2023
Senate Floor Amendment No. 1 Recommend Do Adopt Higher Education; 010-000-000
Senate
3/23/2023
Second Reading
Senate
3/23/2023
Senate Floor Amendment No. 1 Adopted; Fine
Senate
3/23/2023
Placed on Calendar Order of 3rd Reading March 24, 2023
Senate
3/24/2023
Third Reading - Passed; 055-000-000
Senate
3/24/2023
Added as Co-Sponsor Sen. Cristina H. Pacione-Zayas
Senate
3/24/2023
Arrived in House
House of Representatives
3/24/2023
Chief House Sponsor Rep. Katie Stuart
House of Representatives
3/24/2023
Added as Chief Co-Sponsor Sen. Adriane Johnson
Senate
3/24/2023
Added as Co-Sponsor Sen. Mike Simmons
Senate
3/24/2023
First Reading
House of Representatives
3/24/2023
Referred to Rules Committee
House of Representatives
4/11/2023
Assigned to Higher Education Committee
House of Representatives
4/19/2023
Do Pass / Short Debate Higher Education Committee; 011-000-000
House of Representatives
4/20/2023
Placed on Calendar 2nd Reading - Short Debate
House of Representatives
5/3/2023
Second Reading - Short Debate
House of Representatives
5/3/2023
Placed on Calendar Order of 3rd Reading - Short Debate
House of Representatives
5/12/2023
Third Reading/Final Action Deadline Extended-9(b) May 19, 2023
House of Representatives
5/19/2023
Third Reading/Final Action Deadline Extended-9(b) May 31, 2023
House of Representatives
5/31/2023
Rule 19(a) / Re-referred to Rules Committee
House of Representatives
4/17/2024
Added Alternate Co-Sponsor Rep. Diane Blair-Sherlock
House of Representatives
4/17/2024
Added Alternate Co-Sponsor Rep. Will Guzzardi
House of Representatives
4/17/2024
Added Alternate Co-Sponsor Rep. Gregg Johnson
House of Representatives
4/17/2024
Added Alternate Co-Sponsor Rep. Anna Moeller
House of Representatives
4/18/2024
Added Alternate Co-Sponsor Rep. Norma Hernandez
House of Representatives
4/24/2024
Approved for Consideration Rules Committee; 005-000-000
House of Representatives
4/24/2024
Placed on Calendar Order of 3rd Reading - Short Debate
House of Representatives
5/9/2024
Third Reading - Short Debate - Passed 112-000-000
House of Representatives
5/9/2024
Passed Both Houses
Senate
6/7/2024
Sent to the Governor
Senate
8/2/2024
Governor Approved
Senate
8/2/2024
Effective Date August 2, 2024
Senate
8/2/2024
Public Act . . . . . . . . . 103-0748
Senate
Amendments
Senate Amendment 001
Senate Amendment 001
3/3/2023Not Adopted
Roll Call Votes
Third Reading in House
5/9/2024
112
Yea
0
Nay
0
Not Voting
0
Absent
Result: PASSED
Third Reading in Senate
3/24/2023
55
Yea
0
Nay
4
Not Voting
0
Absent
Result: PASSED
Status Information
Current Status
Passed(8/2/2024)
Chamber
Senate
