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Do you know of other member dealership employees who should be receiving the IADA Electronic Bulletins? Let us know! Send an email to Meghan Sander (msander@illinoisdealers.com), Director of Communication, with the contact information of people who should be on our distribution list.
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January 22, 2021 Volume 2021, Issue 1
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Meet Your 2021 IADA Chairman, Rick Yemm
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 Rick Yemm, President of Yemm Auto Group in Galesburg, Illinois was elected the 2021 Chairman of the Board of the Illinois Automobile Dealers Association during its annual meeting for the election of officers held in November. Previously, Yemm served as IADA Vice Chairman, Treasurer and Secretary.
Yemm Auto Group owns several dealerships including Yemm Chevrolet Buick GMC, Yemm Chrysler Dodge Jeep Ram and Yemm Ford, Inc.
In addition to serving on the IADA Board for several years, Rick has been involved in other organizations including the Iowa/Illinois Premier Buick GMC Marketing Association, Past Board Member and Past President, and as a Board Member of the Quad City Area Chevrolet Marketing Association.
In the community, Rick has been active with several organizations, including: Galesburg Cottage Hospital Board, American Heart Association of Knox County Board Member, Tompkins State Bank Board, Knox Galesburg Symphony Board Member, and First Presbyterian Church Member.
Rick is a second-generation dealer and graduated from Illinois Wesleyan University. He and his wife, Jamie, live in Galesburg. They have two children, Rich and Sara.
On behalf of our IADA membership, we congratulate Rick Yemm on his election, and we look forward to working with him as your 2021 IADA Board Chairman. |
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Congratulations to 2020 IADA Chairman, Mike Ettleson
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 On behalf of the IADA Board of Directors and Staff, we offer our congratulations and gratitude to Past Chairman, Mike Ettleson, Ettleson Cadillac, Buick, GMC Inc., Hodgkins, Illinois for his dedication, service and leadership to IADA during his term as Chairman in 2020. |
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2021 Officers and New Board Members
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Serving as IADA Officers with IADA Board Chairman Rick Yemm is Vice Chairman, Sean Grant, Landmark Chrysler Jeep Fiat, Springfield, and Treasurer/Secretary, David Parkhill, Sullivan Parkhill Automotive, Champaign.
We also welcome newly elected dealers to the IADA Board of Directors, representing District 4, Darrin Bauer, Arnie Bauer Chevrolet-Buick, Wilmington, and Joe Massarelli, Liberty Auto City, Libertyville, District 2 Director and Metro Chicago NADA Director.
IADA extends its appreciation and thanks to Tom Dolan, Freeway Ford-Sterling Truck, Lyons, for his service as the dealer member on the Dealer Recovery Trust Fund Board and working with the association, SOS, and Attorney General's Office. The association would also like to recognize and congratulate NADA Director, Jamie Auffenberg, re-elected for his third term as NADA Director.
For a full list of the 2021 IADA Board of Directors, click here. |
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NADA Director, Jamie Auffenberg, Update on NADA PAC
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As your NADA Director from the state of Illinois, I would like to give a brief report summarizing some of our successes in regard to the NADA PAC for the year of 2020.
First of all, six new Presidents Club members representing our state:
- Jack Anderson III and Steven Anderson, both from Laura Buick GMC, Collinsville
- Tammy Darvish of Leader Automotive Group, Bloomington
- Scott Levy of Rosen Hyundai, Algonquin
- David Parkhill of Sullivan Parkhill Automotive, Champaign
- Steve Schmitt of Steve Schmitt Inc., Highland
I would like to recognize these new members of our Presidents Club and thank them for their contributions and commitment to support NADA PAC.
Secondly, Illinois concluded the year with forty-one President Club members, the third highest state in the country with President Club members. These individuals represent 65% of all contributors and 94% of all contributions. We will need to develop new relationships in Washington this year, and our contributions pave the way for our NADA staff to present the agenda of the automotive industry on a regular basis. One example of the NADA staff's success last year was the role they played in overturning the IRS decision preventing the deductibility of the PPP loans. And remember, NADA pays 100% of the staff salaries and overhead. All of your contribution is used for donations to our elected U.S. Representatives and Senators.
Lastly, our total contributions for 2020 were nearly $120,000. I am extremely grateful for the commitment of all the contributors who recognize the importance of NADA PAC, and for making my job much easier with all of their support. For a full listing of Illinois NADA PAC Presidents Club Members, click here.
Jamie Auffenberg Jr., St. Clair Auto Mall, O'Fallon
IADA and NADA extend our appreciation to Jamie Auffenberg for his service as NADA Director and his dedication to NADA PAC fundraising. Illinois NADA PAC contributions for 2020 represent a new record for the Illinois Region. We extend our appreciation to Jamie and to all of our NADA PAC contributors. |
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102nd Illinois General Assembly Sworn In
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Last week Illinois lawmakers wrapped up their business for the 101st General Assembly and rolled into the new 102nd two-year General Assembly cycle. In addition, history was made when the Illinois House of Representatives replaced the longest-serving legislative leader in the United States.
The Illinois House elected its first African American speaker, Democrat Emanuel "Chris" Welch and pushed aside Michael Madigan. Madigan had controlled the Speaker's gavel for 36 of the past 38 years and had sought another term. After 19 House Democratic members refused to vote for Madigan as Speaker, he suspended his campaign and allowed lawmakers to consider others rather than force a drawn-out floor fight ultimately electing Welch for the post. Jim Durkin, Western Springs was re-elected as House Republican Leader.
Welch is an eight-year House veteran from the Chicago suburb of Hillside. He will control the daily operations of the Illinois House of Representatives. The Democrats have a comfortable 73-45 margin over the Republican Party.
In the Senate Chamber, the Democrats also have a veto proof majority by a 41-17 margin over the Republicans. The Senate Chamber elected Senator Don Harmon from Oak Park as President and Dan McConchie of Lake Zurich as Republican Leader.
The number one issue facing Illinois is the huge budget shortfall. Prior to COVID-19, Illinois budget deficit topped $3 billion, and its pile of overdue bills will hit a new record high by fiscal year 2025. The economic and fiscal policy report claims that the General Revenue Fund deficit will steadily grow over 5 years from $3.2 billion unpaid bill backlog to $19.2 billion.
For the 2021/2022 legislative cycle IADA expects close to 10,000 bills to be introduced. We will update membership once all bills are introduced and assigned to their respective committees.
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General Assembly Passes Predatory Loan Prevention Act During Lame Duck Session
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During its "lame duck" session last week, the Illinois General Assembly passed legislation to create the Predatory Loan Prevention Act (PLPA). The legislation was moved through both chambers within 48 hours after it was introduced without going through the committee process to receive input from interested parties. IADA and other interested parties are meeting with staff from the Governor's Office to discuss passing cleanup legislation before the PLPA takes effect.
The PLPA caps the interest rate that a lender can charge in a loan or a retail installment contract at 36% APR. Unfortunately, the PLPA calculates the APR using the definition of Military APR under the Military Lending Act instead of the traditional definition of APR under the Truth-in Lending Act. Capping interest rates based on Military APR instead of the TILA definition of APR will create compliance problems for dealers because it includes items in the amount financed that are not included in TILA's definition of the amount financed, making it difficult to determine whether some transactions are above or below the rate cap. Examples of items that are part of the amount financed under Military APR, but not under TILA APR include fees for GAP waiver and credit insurance as well as the amount of cash-out financing. It is our understanding that the Illinois Department of Financial and Professional Regulation is compiling guidance in the form of a Frequently Asked Questions document, but that the Department is still trying to determine the definition of Military APR. If the Department publishes guidance or if clean-up legislation is introduced, IADA will update you. If you have any questions about the Predatory Loan Prevention Act, please contact IADA at ldoll@illinoisdealers.com or 217-753-0220. |
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Illinois House Fails to Address $10,000 Credit Cap
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The Illinois Legislature finished the 101st General Assembly and did not address Senate Bill 2481, which would have repealed the $10,000 cap on motor vehicle trade-in credits. This legislation passed the Illinois Senate and was pending in the House. Despite some valiant efforts by our legislative sponsors, the bill was not called for a vote over the final days of the abbreviated session.
Senator Munoz has indicated he plans to reintroduce this legislation in the new legislative session within the next few weeks. We will keep you advised on this legislation as it progresses. |
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CVR Hosts "Top State Regulation Challenges Webinar"
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February 18th at 10am, mark your calendar for part two of the Top State Regulation Challenges webinar. This webinar will be hosted by the CVR training department and delivered by CVR Account Executive Joey White. Joey has 21 years of experience in state regulation processing. She'll provide training on the best practices for the new 2021 laws and regulations, including tips to make the registration process easier!
Topics include:
- New TRP- new instruction
- Seven day drive away vs TRP
- Handicap plates
- Specific Military plates that need affirmations
- Documents required to take a vehicle out of a trust
- Documents required for a deceased for title transaction
- Compliance with 2021's new odometer laws
- How to process a courtesy delivery in CVR
- Important phone numbers for the specialty plate section
- Dealer Late fees
Register on the zoom link, click here. Introductory price is $29 for dealers. We look forward to seeing you!
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KPA: COVID-19 Winter Safety
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To help dealerships prepare, KPA has created this helpful on demand webinar, COVID-19 Winter Safety, that covers the latest COVID-19 practical guidance and winter prevention strategies that dealers can use to protect employees, customers, and the reputation of their business. Feel free to watch this pre-recorded webinar at your convenience or download the slides as a resource. |
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