IL HB0454 | 2017-2018 | 100th General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 5-0)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Engrossed) [HTML]
Spectrum: Partisan Bill (Democrat 5-0)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Engrossed) [HTML]
Summary
Creates the Community Bank of Illinois Act. Provides that the Department of Financial and Professional Regulation shall operate The Community Bank of Illinois. Specifies the authority of the advisory board of directors to the Bank. Provides that the Secretary of Financial and Professional Regulation is to employ a president and employees. Contains provisions concerning the removal and discharge of appointees. Provides that State funds must be deposited in the Bank. Contains provisions concerning the nonliability of officers and sureties after deposit. Specifies the powers of the Bank. Contains provisions concerning the guaranty of deposits and the Bank's role as a clearinghouse, the authorization of loans the General Revenue Fund, bank loans to farmers, limitations on loans by the Bank, the name in which business is conducted and titles taken, civil actions, surety on appeal, audits, electronic fund transfer systems, confidentiality of bank records, the sale and leasing of acquired agricultural real estate, and the Illinois higher education savings plan. Provides that the Bank is the custodian of securities. Amends the Illinois State Auditing Act to require that the Auditor General must contract with an independent certified public accounting firm for an annual audit of The Community Bank of Illinois as provided in the Community Bank of Illinois Act. Amends the Eminent Domain Act to allow the Bank to acquire property by eminent domain.
Title
COMMUNITY BANK OF IL ACT
Sponsors
Rep. Mary Flowers [D] | Rep. Barbara Currie [D] | Rep. William Davis [D] | Rep. Kelly Cassidy [D] |
Rep. LaShawn Ford [D] |
History
Date | Chamber | Action |
---|---|---|
2019-01-08 | House | Session Sine Die |
2017-04-28 | House | Rule 19(a) / Re-referred to Rules Committee |
2017-04-28 | House | Added Chief Co-Sponsor Rep. La Shawn K. Ford |
2017-04-28 | House | Added Chief Co-Sponsor Rep. Kelly M. Cassidy |
2017-04-28 | House | Added Chief Co-Sponsor Rep. William Davis |
2017-04-28 | House | Added Chief Co-Sponsor Rep. Barbara Flynn Currie |
2017-04-25 | House | Placed on Calendar Order of 3rd Reading - Standard Debate |
2017-04-25 | House | Second Reading - Standard Debate |
2017-04-06 | House | Fiscal Note Filed |
2017-03-29 | House | Fiscal Note Requested by Rep. Tom Demmer |
2017-03-29 | House | Placed on Calendar 2nd Reading - Standard Debate |
2017-03-28 | House | Do Pass / Standard Debate Financial Institutions Committee; 007-005-000 |
2017-02-02 | House | Assigned to Financial Institutions Committee |
2017-01-17 | House | Referred to Rules Committee |
2017-01-17 | House | First Reading |
2017-01-13 | House | Filed with the Clerk by Rep. Mary E. Flowers |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
30 | 5 | 3-1 | Amended Code | Citation Text |
735 | 30 | 15-5-46 | Amended Code | Citation Text |