IL HB3694 | 2021-2022 | 102nd General Assembly

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 19 2021 - 25% progression, died in committee
Action: 2021-03-27 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Provides that if and only if Senate Bill 1608 of the 101st General Assembly, as amended by House Amendment No. 2, becomes law, then the Illinois Community Reinvestment Act, the Deposit of State Moneys Act, and the Public Funds Investment Act are amended. Excludes banks organized under the Illinois Banking Act, savings banks organized under the Savings Bank Act, and credit unions organized under the Illinois Credit Union Act from within the meaning of "covered financial institution" under the Illinois Community Reinvestment Act. Provides that when investing or depositing State or public funds, the State Treasurer or a public agency may give preference to financial institutions that are not subject to the federal Community Reinvestment Act of 1977 and are established and doing business as not-for-profit consumer owned financial cooperatives, including credit unions. Makes conforming changes. Effective immediately.

Tracking Information

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Title

COMMUNITY REINVESTMENT FUNDS

Sponsors


History

DateChamberAction
2021-03-27HouseRule 19(a) / Re-referred to Rules Committee
2021-03-16HouseAssigned to Executive Committee
2021-02-22HouseReferred to Rules Committee
2021-02-22HouseFirst Reading
2021-02-19HouseFiled with the Clerk by Rep. Lamont J. Robinson, Jr.

Code Citations

ChapterArticleSectionCitation TypeStatute Text
1552016.3Amended CodeCitation Text
302358Amended CodeCitation Text

Illinois State Sources


Bill Comments

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