Veto Session Wrap-Up
In a veto session conducted under the shadow of sexual harassment allegations by female lobbyists and others, the Illinois General Assembly overrode Governor Rauner's vetoes of many bills. Among the new laws:
Illinois Student Loan Servicing Rights Act. Legislators overrode the veto of Senate Bill 1351, which was championed by Attorney General Lisa Madigan. Also known as the Illinois Student Loan Servicing Rights Act, the Act introduces licensing requirements for servicing student loans in Illinois.
It also establishes a "Student Loan Bill of Rights," which prohibits certain servicing practices, imposing various requirements upon student loan servicers. The Act allows the Attorney General to enforce violations under the Consumer Fraud and Deceptive Business Practices Act.
Criminal justice reform. The General Assembly made more strides towards criminal justice reform during the veto session. In particular, HB 184 has been amended to reduce some burdens placed on parolees and to give courts more latitude in determining sentencing.
Unclaimed Life Insurance Benefit Act. The legislature overrode Governor Rauner's amendatory veto of SB 302, which amends the Unclaimed Life Insurance Benefit Act. The bill expanded the Act's scope to include lapsed and terminated life insurance policies. It also requires insurers to compare policies, annuity contracts, and retained asset files to the full Death Master File to determine whether there are unclaimed benefits.