Illinois · Senate Bill 86 · 103rd General Assembly

HIGHER ED-COSIGNER LOANS

SB 86 Sponsored by Laura Fine Became law

  1. Introduced Jan 20, 2023
  2. In committee Jan 20, 2023
  3. Passed the Senate Mar 24, 2023
  4. Passed the House May 9, 2024
  5. To the governor Jun 7, 2024
  6. Became law Aug 2, 2024

What it does

The legislature's own summary of the bill, or its official long title.

Amends the Know Before You Owe Private Education Loan Act. Provides that the information regarding loans shall be provided to borrowers and cosigners (instead of just borrowers). Sets forth provisions for cosigner disclosure and notice, 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, refinancing, and modified or flexible repayment plans. Effective immediately.

Every action

42 steps, oldest first, as the legislature records them.

Show the 34 earlier steps
  1. SenateFiled with Secretary by Sen. Laura Fine
  2. SenateFirst Reading
  3. CommitteeReferred to Assignments · Senate Assignments
  4. CommitteeAssigned to Higher Education · Senate Higher Education
  5. CommitteeDo Pass Higher Education; 011-000-000 · Senate Higher Education
  6. SenatePlaced on Calendar Order of 2nd Reading February 23, 2023
  7. SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Laura Fine
  8. CommitteeSenate Floor Amendment No. 1 Referred to Assignments · Senate Assignments
  9. CommitteeSenate Floor Amendment No. 1 Assignments Refers to Higher Education · Senate Higher Education
  10. CommitteeSenate Floor Amendment No. 1 Recommend Do Adopt Higher Education; 010-000-000 · Senate Higher Education
  11. SenateSecond Reading
  12. SenateSenate Floor Amendment No. 1 Adopted; Fine
  13. SenatePlaced on Calendar Order of 3rd Reading March 24, 2023
  14. SenateThird Reading - Passed; 055-000-000
  15. SenateAdded as Co-Sponsor Sen. Cristina H. Pacione-Zayas
  16. HouseArrived in House
  17. HouseChief House Sponsor Rep. Katie Stuart
  18. SenateAdded as Chief Co-Sponsor Sen. Adriane Johnson
  19. SenateAdded as Co-Sponsor Sen. Mike Simmons
  20. HouseFirst Reading
  21. CommitteeReferred to Rules Committee · House Rules
  22. CommitteeAssigned to Higher Education Committee · House Higher Education
  23. CommitteeDo Pass / Short Debate Higher Education Committee; 011-000-000 · House Higher Education
  24. HousePlaced on Calendar 2nd Reading - Short Debate
  25. HouseSecond Reading - Short Debate
  26. HousePlaced on Calendar Order of 3rd Reading - Short Debate
  27. HouseThird Reading/Final Action Deadline Extended-9(b) May 19, 2023
  28. HouseThird Reading/Final Action Deadline Extended-9(b) May 31, 2023
  29. CommitteeRule 19(a) / Re-referred to Rules Committee · House Rules
  30. HouseAdded Alternate Co-Sponsor Rep. Diane Blair-Sherlock
  31. HouseAdded Alternate Co-Sponsor Rep. Will Guzzardi
  32. HouseAdded Alternate Co-Sponsor Rep. Gregg Johnson
  33. HouseAdded Alternate Co-Sponsor Rep. Anna Moeller
  34. HouseAdded Alternate Co-Sponsor Rep. Norma Hernandez
  1. CommitteeApproved for Consideration Rules Committee; 005-000-000 · House Rules
  2. HousePlaced on Calendar Order of 3rd Reading - Short Debate
  3. HouseThird Reading - Short Debate - Passed 112-000-000
  4. SenatePassed Both Houses
  5. SenateSent to the Governor
  6. SenateGovernor Approved
  7. SenateEffective Date August 2, 2024
  8. SenatePublic Act . . . . . . . . . 103-0748

Roll calls

5 recorded votes: 2 on the floor, 3 in committee. Each shows how every member voted.

Third Reading · Full Senate

Passed 55–0
Mar 24, 2023 · journal entry
Yes 55 No 0 Not voting 4
Democrats: 36 yes, 0 no Republicans: 19 yes, 0 no
How each member voted

Yes · 55

Not voting · 4

Third Reading · Full House

Passed 112–0
May 9, 2024 · journal entry
Yes 112 No 0 Not voting 6
Democrats: 72 yes, 0 no Republicans: 40 yes, 0 no
How each member voted

Yes · 112

Excused · 6

Committee and other votes

DateWhereQuestionResult
Feb 21, 2023 Senate Higher Education Higher Education - Do Pass
Members

Yes · 11

Not voting · 2

 11–0
Mar 21, 2023 Senate Higher Education Senate Floor Amendment No. 1 - Higher Education - Recommend Do Adopt
Members

Yes · 10

Not voting · 3

 10–0
Apr 19, 2023 House Higher Education Higher Education - Do Pass
Members

Yes · 11

Not voting · 1

 Passed 11–0

Sponsors

The member who introduced it, joined by 8 cosponsors: 8 Democrats.

All 8 cosponsors

From Illinois's official records (www.ilga.gov), checked Nov 2, 2026. Text links go to the official versions; LegiList does not copy bill text.