Illinois § 7-25
Full text of Illinois Illinois Compiled Statutes § 7-25, with citation guidance and answers to common questions.
§ 7-25.
Risk sharing. (a) An EISA provider may not contract for EISA terms that would result in a consumer having income that is less than or equal to 450% of the federal poverty guidelines for a single person for the EISA duration being required to make a stream of EISA payments that would yield an effective APR greater than 8.5%, or the high yield of the 10-year United States Constant Maturity Treasury Notes auctioned at the final auction held before the current calendar year in which an EISA offering is made plus 4.5%, whichever is greater. (b) An EISA provider shall calculate the effective APR in subsection (a) by determining the federal poverty guidelines at the time the consumer's EISA is originated and assuming such amount is fixed through the EISA duration. (c) For the purposes of determining EISA duration in this Section, an EISA provider shall assume the EISA duration started after a period equal to the expected length of the program for which a consumer is enrolling. (d) If there is a discrepancy between the effective annual percentage rate as calculated in this Section and the maximum effective annual percentage rate as calculated in Section 7-15, the lower effective annual percentage rate shall apply in this Section 7-25. (Source: P.A. 104-383, eff. 8-15-25.)
Frequently Asked Questions About Illinois § 7-25
What does Illinois Compiled Statutes § 7-25 cover?
Section 7-25 is part of the Illinois Compiled Statutes, the codified statutory law of Illinois. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Illinois § 7-25?
A common citation format is "Illinois Compiled Statutes § 7-25" (Illinois). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Illinois law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Illinois official source linked on this page or consult a licensed Illinois attorney.
How does Illinois § 7-25 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Illinois can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Illinois.