Sen. Elgie R. Sims, Jr.
Filed: 11/8/2023
 
 
 




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1
AMENDMENT TO HOUSE BILL 779 


2 AMENDMENT NO. ______. Amend House Bill 779, AS AMENDED, 
3with reference to page and line numbers of Senate Amendment 
4No. 1, as follows: 

5on page 35, line 24, by replacing "Mortgage" with 
6"Multistate"; and 

7on page 36, line 5, by replacing "Mortgage" with "Multistate"; 
8and 

9on page 37, line 8, by replacing "Mortgage" with "Multistate"; 
10and 

11by replacing line 6 on page 38 through line 7 on page 39 with 
12the following:

13 "Section 10-60. Pawnbroker annual report. 
 
 
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1 (a) The Department shall, in conjunction with advice from 
2a professional association that represents 50 or more 
3licensees, issue an annual report, via an Internet-based 
4program, of aggregate pawnbroker activity within 180 days 
5after the beginning of the calendar year. The report shall 
6contain at a minimum: 
7  (1) The number of licensed pawnbrokers. 
8  (2) The total dollar amount financed. 
9  (3) The total number of pawns for each value threshold 
10 set forth in subsection (c) of Section 15-10. 
11  (4) The total dollar amount of extensions. 
12  (5) The total number of extensions for each value 
13 threshold set forth in subsection (c) of Section 15-10. 
14  (6) The average pawn dollar amount for each value 
15 threshold set forth in subsection (c) of Section 15-10. 
16  (7) The average monthly finance charge for each value 
17 threshold set forth in subsection (c) of Section 15-10. 
18  (8) The percentage of pawns surrendered to law 
19 enforcement. 
20  (9) The percentage of total pawns surrendered to law 
21 enforcement by dollar amount. 
22  (10) The percentage of pawns redeemed. 
23  (11) The percentage of pawns extended. 
24  (12) The total number of pawnbroker employees. 
25  (13) The total number of licensees reporting. 
26  (14) The total number of complaints received and 
 
 
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1 resolved by the Department. 
2  (15) The total number of defaulted pawn transactions 
3 reported to a credit bureau. 
4  (16) The total number of defaulted pawn transactions 
5 sent to a collection agency. 
6  (17) The total number of defaulted pawn transactions 
7 resulting in wage garnishment or legal action to collect. 
8  (18) The total number of pawn transactions reported to 
9 law enforcement. 
10 (b) The Secretary may retain qualified persons to prepare 
11and report findings (1) identifying pawns and small dollar 
12loans that are available to Illinois consumers, (2) collecting 
13and analyzing pawns and loan-level data for small dollar 
14loans, and (3) compiling aggregate data and trends for pawns 
15and small dollar loans used by Illinois consumers. The 
16Secretary shall make the report available to the Governor, the 
17General Assembly, and the public. 
18 In this subsection, "pawns and small dollar loans" means 
19pawns and lending products with a value of $2,500 or less, 
20including, but not limited to, pawns, consumer installment 
21loans, and other extensions of credit, whether or not offered 
22by entities chartered or licensed in Illinois."; and

23on page 40, line 17, by replacing "subsections (a) and (b)" 
24with "subsection (a)"; and 

 
 
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1on page 42, line 8, by replacing "subsection (b)" with 
2"subsection (a)"; and 

3on page 42, line 12, by replacing "subsection (b)" with 
4"subsection (a)"; and 

5on page 42, line 19, by replacing "subsection (b)" with 
6"subsection (a)"; and 

7on page 42, line 22, by replacing "subsection (b)" with 
8"subsection (a)"; and 

9on page 43, line 1, by replacing "10-70. 10-70." with 
10"10-70."; and 

11on page 48, line 26, by replacing "$500 or more and $1,500 or 
12less" with "at or above $500 and less than $1,500"; and 

13on page 49, line 1, by replacing "of over $1,500" with "at or 
14above $1,500"; and 

15on page 49, line 2, by replacing "$5,000 or less" with "less 
16than $5,000"; and