· IL legislature · 104th

INTEREST-PREPAYMENT PENALTY

Amends the Interest Act. Provides that, whenever the rate of interest exceeds an annual percentage rate of 8% on any written contract, agreement or bond for deed providing for the installment purchase of residential real estate made primarily for personal, family, or household purposes (rather than for the installme…

Sponsor

Dan Didech (D-IL)

Introduced

2026-01-06

Policy area

Finance and Financial Sector

Latest action

Rule 19(a) / Re-referred to Rules Committee