IL HB1416

Prohibits domain name hosts and registrars from selling or leasing an internet domain name to another person for 5 years after the original Illinois-based buyer or lessee ends their ownership or lease

Grants former domain owners/lessees the right to repurchase or renew their domain during the 5-year grace period at the original cost they would have paid if the agreement had continued

Violations constitute an unlawful practice under the Consumer Fraud and Deceptive Business Practices Act

Amends 815 ILCS 505 by adding Section 2HHHH to create new consumer protections for internet domain name registrations