Illinois legislation · 104th General Assembly
Illinois HB4814: DEBT MANAGEMENT LICENSE & FEES
Status: Passed one chamber, July 2, 2026
Amends the Debt Management Service Act. Provides that every applicant for a license to engage in the debt management service business in the State shall submit to the Secretary, at the time of the application for a license, a bond to be approved by the Secretary in which the applicant shall be the obligor, in the sum of $50,000 (rather than $25,000) or the specified amount. In provisions concerning fees or penalties that may be charged by a debt management service provider, permits the charging of additional fees at the completion of the initial counseling services, which shall not exceed: (A) 15% of the amount disbursed monthly to creditors or $75, whichever is less, if there are fewer than 6 creditors enrolled in the debt management plan; or (B) 15% of the amount disbursed monthly to creditors or $100, whichever is less, if there are 6 or more creditors enrolled in the debt management plan.
What the bill says
A bill FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026HB4814Introduced , by Rep. Daniel DidechSYNOPSIS AS INTRODUCED: ILCS 665/4from Ch. 17, par. 5304205 ILCS 665/12from Ch. 17, par. 5312 205 ILCS 665/4 from Ch. 17, par. 5304 205 ILCS 665/12 from Ch. 17, par. 5312 ILCS 665/4 from Ch. 17, par. 5304 ILCS 665/12 from Ch. 17, par. 5312 Amends the Debt Management Service Act…
From the introduced text, February 3, 2026:
A BILL FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026HB4814Introduced , by Rep. Daniel DidechSYNOPSIS AS INTRODUCED: ILCS 665/4from Ch. 17, par. 5304205 ILCS 665/12from Ch. 17, par. 5312 205 ILCS 665/4 from Ch. 17, par. 5304 205 ILCS 665/12 from Ch. 17, par. 5312 ILCS 665/4 from Ch. 17, par. 5304 ILCS 665/12 from Ch. 17, par. 5312 Amends the Debt Management Service Act. Provides that every applicantfor a license to engage in the debt management service business in theState shall submit to the Secretary, at the time of the application for alicense, a bond to be approved by the Secretary in which the applicantshall be the obligor, in the sum of $50,000 (rather than $25,000) or thespecified amount. In provisions concerning fees or penalties that may becharged by a debt management service provider, permits the charging ofadditional fees at the completion of the initial counseling services,which shall not or (B) 15% of the amount disbursedmonthly to creditors or $100, whichever is less, if there are 6 or morecreditors enrolled in the debt management plan. LRB104 16531 BAB 29927 b LRB104 16531 BAB 29927 b LRB104 16531 BAB 29927 b A BILL FOR HB4814LRB104 16531 BAB 29927 b HB4814 LRB104 16531 BAB 29927 b HB4814 LRB104 16531 BAB 29927 b AN ACT concerning regulation. Be it enacted …
Sponsors
- Daniel Didech (D, 59) · primary sponsor
- Justin Cochran (D, 55)
- Jawaharial Williams (D, 10)
- Don Harmon (D, 39) · primary sponsor
Latest actions
- : Senate Floor Amendment No. 1 Pursuant to Senate Rule 3-9(b) / Referred to Assignments
- : Rule 3-9(a) / Re-referred to Assignments
- : Rule 2-10 Third Reading Deadline Established As May 31, 2026
- : Senate Floor Amendment No. 1 Assignments Refers to Executive
- : Placed on Calendar Order of 3rd Reading May 25, 2026
- : Second Reading
- : Senate Floor Amendment No. 1 Referred to Assignments
- : Senate Floor Amendment No. 1 Filed with Secretary by Sen. Mark L. Walker
- : Alternate Chief Sponsor Changed to Sen. Don Harmon
- : Placed on Calendar Order of 2nd Reading May 21, 2026
Votes
- Third Reading - Short Debate - Passed (April 14, 2026): 74 yea, 34 nay, passed
- House Floor Amendment No. 1 Recommends Be Adopted Financial Institutions and Licensing Committee (April 7, 2026): 10 yea, 0 nay, passed
- Do Pass / Short Debate Financial Institutions and Licensing Committee (March 24, 2026): 12 yea, 0 nay, passed
Subjects: ILCS 205 - Financial Regulation
Common questions
- What is HB4814?
- HB4814 is a bill in the Illinois Legislature (104th General Assembly): DEBT MANAGEMENT LICENSE & FEES.
- What does HB4814 do?
- In its own words: A bill FOR 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026HB4814Introduced , by Rep. Daniel DidechSYNOPSIS AS INTRODUCED: ILCS 665/4from Ch. 17, par. 5304205 ILCS 665/12from Ch. 17, par. 5312 205 ILCS 665/4 from Ch. 17, par. 5304 205 ILCS 665/12 from Ch. 17, par. 5312 ILCS 665/4 from Ch. 17, par. 5304 ILCS 665/12 from Ch. 17, par. 5312 Amends the Debt Management Service Act…
- What is the status of HB4814?
- Passed one chamber as of July 2, 2026. Latest action: Senate Floor Amendment No. 1 Pursuant to Senate Rule 3-9(b) / Referred to Assignments (July 2, 2026).
- Who sponsored HB4814?
- Daniel Didech (D, 59), with 3 co-sponsors.
- Where is the official record for HB4814?
- On the Illinois Legislature website: https://www.ilga.gov/Legislation/BillStatus?DocNum=4814&GAID=18&DocTypeID=HB&SessionID=114
Source: official Illinois record. Tracked by Delilah, AI for legislation across all 50 states and Congress.