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Bill > HB0742


IL HB0742

IL HB0742
REGULATION-TECH


summary

Introduced
01/09/2025
In Committee
05/15/2025
Crossed Over
04/10/2025
Passed
06/16/2025
Dead
Signed/Enacted/Adopted
06/16/2025

Introduced Session

104th General Assembly

Bill Summary

Amends the Interchange Fee Prohibition Act by changing the effective date of the Act to July 1, 2026 (currently, July 1, 2025). Effective immediately.

AI Summary

This bill amends the Interchange Fee Prohibition Act by changing the effective date of Article 150 from July 1, 2025, to July 1, 2026. The Interchange Fee Prohibition Act is a piece of legislation that regulates various aspects of financial transactions, and this amendment specifically adjusts the implementation timeline for one section of the law. The bill itself takes effect immediately upon becoming law, which means the change to the effective date will be applied right away. This type of technical amendment is common in legislative practice to allow more time for preparation, implementation, or to align with other regulatory changes. The modification ensures that the specific article (Article 150) of the law will now take effect one year later than originally planned, potentially giving affected parties additional time to adapt to the upcoming regulatory requirements.

Committee Categories

Budget and Finance, Government Affairs

Sponsors (49)

Margaret Croke (D)* Mark Walker (D)* Jaime Andrade (D),  Dee Avelar (D),  Harry Benton (D),  Amy Briel (D),  John Cabello (R),  Sharon Chung (D),  Terra Costa Howard (D),  Regan Deering (R),  Eva-Dina Delgado (D),  Martha Deuter (D),  Dan Didech (D),  Mary Edly-Allen (D),  Amy Elik (R),  Laura Ellman (D),  Brad Fritts (R),  Mary Gill (D),  Jen Gong-Gershowitz (D),  Angelica Guerrero-Cuellar (D),  Graciela Guzmán (D),  Jackie Haas (R),  Matt Hanson (D),  Jay Hoffman (D),  Linda Holmes (D),  Hoan Huynh (D),  Adriane Johnson (D),  Gregg Johnson (D),  Michael Kelly (D),  Natalie Manley (D),  Joyce Mason (D),  Charlie Meier (R),  Robert Peters (D),  Mike Porfirio (D),  Wayne Rosenthal (R),  Rick Ryan (D),  Kevin Schmidt (R),  Mike Simmons (D),  Nick Smith (D),  Ryan Spain (R),  Katie Stuart (D),  Dan Swanson (R),  Curtis Tarver (D),  Dan Ugaste (R),  Dave Vella (D),  Rachel Ventura (D),  Karina Villa (D),  Larry Walsh (D),  Travis Weaver (R), 

Last Action

Public Act . . . . . . . . . 104-0004 (on 06/16/2025)

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