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Creates the Illinois Receivership Act. Creates a process in which a person is appointed by the court as the court's agent under the court's direction to take possession of, manage and, if authorized by the Act or court order, transfer, sell, lease, or otherwise dispose of receivership property. Provides criteria for a court to provide notice and opportunity for a hearing as appropriate before the court can issue an order under the Act. Applies to real property and any personal property related to or used in operating the real property, personal property and fixtures, and other business assets such as corporations, limited liability companies and trusts among other things. Provides that this Act does not apply to (i) an interest in real property improved by one to six dwelling units with some exceptions; (ii) a receiver that is a governmental unit or an individual acting in an official capacity on behalf of the governmental unit unless the unit elects for this Act to apply; and (iii) a receiver appointed under the Illinois Mortgage Foreclosure Law. Defines terms. Provides for the powers and duties of a receiver, disqualification of a receiver, the status of a receiver as lien holder, duties of an owner, powers of the court in managing a receivership, and defenses and immunities of a receiver. Makes other changes.
Introduced
Apr 9, 2025
Last Action
Aug 1, 2025
Session
IL 104th
Sponsors
2 primary · 4 co
Governor Approved
Public Act . . . . . . . . . 104-0034
Effective Date January 1, 2026
Sent to the Governor
Passed Both Houses
Third Reading - Passed; 058-000-000
Placed on Calendar Order of 3rd Reading **
Placed on Calendar Order of 3rd Reading May 13, 2025
Second Reading
Do Pass Judiciary; 007-000-000
Placed on Calendar Order of 2nd Reading May 6, 2025
Assigned to Judiciary
Referred to Assignments
First Reading
Chief Senate Sponsor Sen. Robert F. Martwick
Placed on Calendar Order of First Reading April 10, 2025
Arrive in Senate
Added Co-Sponsor Rep. Camille Y. Lilly
Added Chief Co-Sponsor Rep. Harry Benton
Third Reading - Short Debate - Passed 116-000-000
Added Chief Co-Sponsor Rep. Rick Ryan
Added Chief Co-Sponsor Rep. Daniel Didech
Chief Sponsor Changed to Rep. Jawaharial Williams
Placed on Calendar Order of 3rd Reading - Short Debate
House Floor Amendment No. 2 Adopted
House Floor Amendment No. 1 Adopted
Second Reading - Short Debate
House Floor Amendment No. 2 Recommends Be Adopted Judiciary - Civil Committee; 017-000-000
House Floor Amendment No. 2 Rules Refers to Judiciary - Civil Committee
House Floor Amendment No. 2 Referred to Rules Committee
House Floor Amendment No. 2 Filed with Clerk by Rep. Daniel Didech
House Floor Amendment No. 1 Recommends Be Adopted Judiciary - Civil Committee; 018-000-000
House Floor Amendment No. 1 Rules Refers to Judiciary - Civil Committee
House Floor Amendment No. 1 Referred to Rules Committee
House Floor Amendment No. 1 Filed with Clerk by Rep. Daniel Didech
Placed on Calendar 2nd Reading - Short Debate
Do Pass / Short Debate Judiciary - Civil Committee; 018-001-000
Assigned to Judiciary - Civil Committee
Referred to Rules Committee
First Reading
Prefiled with Clerk by Rep. Daniel Didech
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Public Act . . . . . . . . . 104-0034
Jawaharial Williams
Robert F. Martwick