Illinois House of Representatives bill in Session 104.
Status: in_committee. Latest action: February 10, 2026.
INSTALLMENT SALES ACT.
Amends the Installment Sales Contract Act. Changes the definition of "seller"" under the Act to mean an individual or legal entity that possesses a legal or beneficial interest in real estate and that enters into an installment sales contract more than 3 times during a continuous 12-month period to sell residential real estate. Provides that the Installment Sales Contract Act applies only to contracts entered into once an individual or legal entity has qualified as a seller. Effective immediately."
| Date | Event | Detail |
|---|---|---|
| 2026-02-10 | Introduced | Bill introduced |
| 2026-02-10 | Status | in_committee |
| 2026-02-10 | Latest Action | 2/10/2026 - House: |