On June 4, 2026, Illinois Governor Sarah Kaplan signed new commercial law legislation aimed at strengthening consumer protections and promoting fair business practices in the state. The new laws, which will go into effect on January 1, 2027, cover a wide range of commercial activities, from real estate transactions to online sales.One of the key provisions of the new legislation is the establishment of stricter requirements for landlords and property management companies. Under the new law, landlords will be required to provide 60 days' notice before raising rent on a residential property, up from the previous requirement of 30 days. Additionally, landlords will be prohibited from charging excessive fees for late rent payments, with a cap set at $50 or 5% of the monthly rent, whichever is lower.The new laws also aim to crack down on predatory lending practices by requiring lenders to provide clearer disclosures about loan terms and interest rates. Lenders will be required to provide borrowers with a detailed breakdown of all fees associated with a loan, as well as information on the total cost of the loan over its term. This move is intended to help consumers make more informed decisions about their borrowing options and avoid falling into debt traps.In the realm of online commerce, the new legislation includes provisions aimed at protecting consumers from deceptive advertising practices. Online retailers will be required to disclose all fees and charges associated with a purchase upfront, and will be prohibited from using misleading or inaccurate product descriptions. Additionally, the legislation includes measures to combat the rise of fake reviews and testimonials by requiring online platforms to take action against sellers who engage in these practices.Overall, the new commercial law legislation represents a significant step forward in protecting Illinois consumers and promoting fair business practices in the state. Governor Kaplan hailed the legislation as a crucial tool in the fight against predatory business practices, stating that "these new laws will ensure that Illinois consumers are treated fairly and have access to the information they need to make informed decisions."Business owners and consumers alike are encouraged to familiarize themselves with the new laws ahead of their implementation on January 1, 2027, in order to ensure compliance and avoid potential penalties. With these new measures in place, Illinois is poised to set a new standard for consumer protection in the commercial sector.