Illinois · House Bill 5290 · 104th General Assembly

SALES FINANCE AGENCY-VARIOUS

HB 5290 Sponsored by Margaret Croke Became law

  1. Introduced Feb 5, 2026
  2. In committee Feb 10, 2026
  3. Passed the House Apr 9, 2026
  4. Passed the Senate May 14, 2026
  5. To the governor Jun 12, 2026
  6. Became law Jun 26, 2026

What it does

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

Amends the Sales Finance Agency Act. Makes changes to defined terms. Provides that applicants for a license shall apply in a form prescribed by the Secretary of Financial and Professional Regulation. Prohibits any person, partnership, association, corporation, limited liability company, or other entity engaged in a business regulated by the Act from operating the business under a name other than the real names of…

Read the full title (229 words)

Amends the Sales Finance Agency Act. Makes changes to defined terms. Provides that applicants for a license shall apply in a form prescribed by the Secretary of Financial and Professional Regulation. Prohibits any person, partnership, association, corporation, limited liability company, or other entity engaged in a business regulated by the Act from operating the business under a name other than the real names of the entity and individuals conducting the business. Grants the Secretary authority to issue a license upon completion of the specified filing and investigatory requirements. Sets forth further licensing requirements. Provides that all moneys received by the Secretary under the Act in conjunction with the provisions relating to sales finance agencies shall be paid into the Financial Institution Fund. Prohibits a sales finance agency from aiding or seeking to aid any person in the violation of the Retail Installment Sales Act or the Motor Vehicle Retail Installment Sales Act. Grants additional investigatory, disciplinary, and examination authority to the Secretary. Establishes rulemaking provisions. Grants the Department authority to adopt rules to provide for review within the Department of the Secretary's decisions affecting the rights of persons or entities under the Act. Allows the Secretary to request a circuit court to assess a civil penalty of up to $10,000 (rather than $1,000) for violations of the Act. Repeals various provisions of the Act. Makes other changes. Effective immediately.

Every action

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

Show the 21 earlier steps
  1. HouseFiled with the Clerk by Rep. Margaret Croke
  2. HouseFirst Reading
  3. CommitteeReferred to Rules Committee · House Rules
  4. CommitteeAssigned to Financial Institutions and Licensing Committee · House Financial Institutions & Licensing
  5. CommitteeDo Pass / Short Debate Financial Institutions and Licensing Committee; 007-003-000 · House Financial Institutions & Licensing
  6. HousePlaced on Calendar 2nd Reading - Short Debate
  7. HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Margaret Croke
  8. CommitteeHouse Floor Amendment No. 1 Referred to Rules Committee · House Rules
  9. CommitteeHouse Floor Amendment No. 1 Rules Refers to Financial Institutions and Licensing Committee · House Financial Institutions & Licensing
  10. CommitteeHouse Floor Amendment No. 1 Recommends Be Adopted Financial Institutions and Licensing Committee; 008-004-000 · House Financial Institutions & Licensing
  11. HouseHouse Floor Amendment No. 1 Adopted
  12. HouseSecond Reading - Short Debate
  13. HousePlaced on Calendar Order of 3rd Reading - Short Debate
  14. HouseThird Reading - Short Debate - Passed 070-036-000
  15. SenateArrive in Senate
  16. SenatePlaced on Calendar Order of First Reading
  17. SenateChief Senate Sponsor Sen. Laura Ellman
  18. SenateFirst Reading
  19. CommitteeReferred to Assignments · Senate Assignments
  20. CommitteeApproved for Consideration Assignments · Senate Assignments
  21. SenatePlaced on Calendar Order of 2nd Reading April 28, 2026
  1. SenateSecond Reading
  2. SenatePlaced on Calendar Order of 3rd Reading May 5, 2026
  3. SenateThird Reading - Passed; 036-019-000
  4. HousePassed Both Houses
  5. HouseSent to the Governor
  6. HouseGovernor Approved
  7. HouseEffective Date June 26, 2026
  8. HousePublic Act . . . . . . . . . 104-0516

Roll calls

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

Third Reading · Full House

Passed 70–36
Apr 9, 2026 · journal entry
Yes 70 No 36 Not voting 12
Democrats: 70 yes, 0 no Republicans: 0 yes, 36 no
How each member voted

Yes · 70

No · 36

Not voting · 2

Excused · 10

Third Reading · Full Senate

Passed 36–19
May 14, 2026 · journal entry
Yes 36 No 19 Not voting 4
Democrats: 36 yes, 0 no Republicans: 0 yes, 19 no
How each member voted

Yes · 36

No · 19

Not voting · 4

Committee and other votes

DateWhereQuestionResult
Mar 18, 2026 House Financial Institutions & Licensing Financial Institutions & Licensing - Do Pass
Members

Yes · 7

No · 3

Not voting · 2

 Passed 7–3
Mar 24, 2026 House Financial Institutions & Licensing House Floor Amendment No. 1 - Financial Institutions & Licensing - Recommends Be Adopted
Members

Yes · 8

No · 4

 Passed 8–4

Sponsors

The member who introduced it.

From Illinois's official records (www.ilga.gov), checked Nov 13, 2026. Text links go to the official versions; LegiList does not copy bill text.