IL HB3968 | 2021-2022 | 102nd General Assembly
Status
Spectrum: Moderate Partisan Bill (Democrat 46-6)
Status: Engrossed on April 21 2021 - 50% progression, died in chamber
Action: 2023-01-05 - Added as Alternate Co-Sponsor Sen. Bill Cunningham
Text: Latest bill text (Engrossed) [HTML]
Status: Engrossed on April 21 2021 - 50% progression, died in chamber
Action: 2023-01-05 - Added as Alternate Co-Sponsor Sen. Bill Cunningham
Text: Latest bill text (Engrossed) [HTML]
Summary
Amends the Corporate Fiduciary Act to create the Special Purpose Trust Company Authority and Organization Article. Provides that a corporation that has been or shall be incorporated under the general corporation laws of the State for the special purpose of providing fiduciary custodial services or providing other like or related services as specified by rule may be appointed to act as a fiduciary with respect to such services and shall be designated a special purpose trust company. Provides that it shall not be lawful for any person to engage in the activity of a special purpose trust company without first filing an application for and procuring a certificate of authority from the Secretary of Financial and Professional Regulation. Provides that the Department shall adopt rules for the administration of the Article, and that specified Articles of the Corporate Fiduciary Act shall apply to a special purpose trust company as if the special purpose trust company were a trust company. Amends the Illinois Banking Act. In provisions concerning conversion and merger with trust companies, provides that a special purpose trust company may merge with a State bank or convert to a State bank as if the special purpose trust company were a trust company. Defines "special purpose trust company". Amends the Blockchain Business Development Act to provide that the Department of Financial and Professional Regulation shall have authority to adopt rules, opinions, or interpretive letters regarding the custody of digital assets, including digital consumer assets, digital securities, and virtual currency.
Title
SPECIAL PURPOSE TRUST COMPANY
Sponsors
Roll Calls
2021-04-21 - House - Third Reading in House (Y: 117 N: 0 NV: 0 Abs: 0) [PASS]
History
Date | Chamber | Action |
---|---|---|
2023-01-05 | Senate | Added as Alternate Co-Sponsor Sen. Bill Cunningham |
2023-01-05 | Senate | Alternate Chief Sponsor Changed to Sen. Jacqueline Y. Collins |
2023-01-05 | Senate | Senate Floor Amendment No. 1 Recommend Do Adopt Executive; 010-006-000 |
2023-01-05 | Senate | Senate Floor Amendment No. 1 Assignments Refers to Executive |
2023-01-05 | Senate | Sponsor Removed Sen. Win Stoller |
2023-01-04 | Senate | Added as Alternate Co-Sponsor Sen. Elgie R. Sims, Jr. |
2023-01-04 | Senate | Added as Alternate Co-Sponsor Sen. Omar Aquino |
2023-01-04 | Senate | Added as Alternate Co-Sponsor Sen. Robert F. Martwick |
2023-01-04 | Senate | Added as Alternate Co-Sponsor Sen. Ram Villivalam |
2023-01-04 | Senate | Added as Alternate Co-Sponsor Sen. Cristina Castro |
2023-01-04 | Senate | Added as Alternate Co-Sponsor Sen. Sara Feigenholtz |
2023-01-04 | Senate | Added as Alternate Co-Sponsor Sen. Diane Pappas |
2023-01-04 | Senate | Added as Alternate Co-Sponsor Sen. Julie A. Morrison |
2023-01-04 | Senate | Added as Alternate Co-Sponsor Sen. Laura Fine |
2023-01-04 | Senate | Added as Alternate Co-Sponsor Sen. Napoleon Harris, III |
2023-01-04 | Senate | Added as Alternate Co-Sponsor Sen. Mike Simmons |
2023-01-04 | Senate | Added as Alternate Co-Sponsor Sen. Adriane Johnson |
2023-01-04 | Senate | Added as Alternate Co-Sponsor Sen. Doris Turner |
2023-01-04 | Senate | Added as Alternate Co-Sponsor Sen. Kimberly A. Lightford |
2023-01-04 | Senate | Added as Alternate Co-Sponsor Sen. Christopher Belt |
2023-01-04 | Senate | Added as Alternate Co-Sponsor Sen. Celina Villanueva |
2023-01-04 | Senate | Added as Alternate Co-Sponsor Sen. Cristina H. Pacione-Zayas |
2023-01-04 | Senate | Added as Alternate Co-Sponsor Sen. Karina Villa |
2023-01-04 | Senate | Added as Alternate Co-Sponsor Sen. Laura M. Murphy |
2023-01-04 | Senate | Added as Alternate Co-Sponsor Sen. Ann Gillespie |
2023-01-04 | Senate | Added as Alternate Chief Co-Sponsor Sen. Mattie Hunter |
2023-01-04 | Senate | Added as Alternate Chief Co-Sponsor Sen. Laura Ellman |
2023-01-04 | Senate | Added as Alternate Chief Co-Sponsor Sen. Robert Peters |
2023-01-04 | Senate | Senate Floor Amendment No. 1 Referred to Assignments |
2023-01-04 | Senate | Senate Floor Amendment No. 1 Filed with Secretary by Sen. Jacqueline Y. Collins |
2023-01-03 | Senate | Placed on Calendar Order of 3rd Reading January 4, 2023 |
2023-01-03 | Senate | Approved for Consideration Assignments |
2021-11-28 | Senate | Pursuant to Senate Rule 3-9(b) / Referred to Assignments |
2021-10-19 | Senate | Added as Alternate Co-Sponsor Sen. Laura Ellman |
2021-10-13 | Senate | Pursuant to Senate Rule 3-9(b)(ii) this bill shall not be re-referred to the Committee on Assignment pursuant to Senate Rule 3-9(b). |
2021-08-26 | Senate | Placed on Calendar Order of 3rd Reading August 31, 2021 |
2021-08-26 | Senate | Approved for Consideration Assignments |
2021-08-25 | Senate | Rule 2-10 Third Reading Deadline Established As December 1, 2021 |
2021-06-15 | Senate | Rule 3-9(a) / Re-referred to Assignments |
2021-05-31 | Senate | Rule 2-10 Third Reading Deadline Established As June 15, 2021 |
2021-05-21 | Senate | Placed on Calendar Order of 3rd Reading May 24, 2021 |
2021-05-21 | Senate | Second Reading |
2021-05-19 | Senate | Placed on Calendar Order of 2nd Reading May 20, 2021 |
2021-05-19 | Senate | Do Pass Judiciary; 007-000-000 |
2021-05-10 | Senate | Assigned to Judiciary |
2021-04-27 | Senate | Added as Alternate Co-Sponsor Sen. Win Stoller |
2021-04-22 | Senate | Referred to Assignments |
2021-04-22 | Senate | First Reading |
2021-04-22 | Senate | Chief Senate Sponsor Sen. Bill Cunningham |
2021-04-21 | Senate | Placed on Calendar Order of First Reading April 22, 2021 |
2021-04-21 | Senate | Arrive in Senate |
2021-04-21 | House | Added Co-Sponsor Rep. Suzanne Ness |
2021-04-21 | House | Third Reading - Short Debate - Passed 117-000-000 |
2021-04-21 | House | Placed on Calendar Order of 3rd Reading - Short Debate |
2021-04-21 | House | House Floor Amendment No. 1 Adopted |
2021-04-21 | House | Recalled to Second Reading - Short Debate |
2021-04-20 | House | House Floor Amendment No. 1 Recommends Be Adopted Financial Institutions Committee; 008-000-000 |
2021-04-20 | House | House Floor Amendment No. 1 Rules Refers to Financial Institutions Committee |
2021-04-16 | House | Added Co-Sponsor Rep. Emanuel Chris Welch |
2021-04-15 | House | House Floor Amendment No. 1 Referred to Rules Committee |
2021-04-15 | House | House Floor Amendment No. 1 Filed with Clerk by Rep. Margaret Croke |
2021-04-15 | House | Added Chief Co-Sponsor Rep. Mark Batinick |
2021-04-14 | House | Placed on Calendar Order of 3rd Reading - Short Debate |
2021-04-14 | House | Second Reading - Short Debate |
2021-04-13 | House | Placed on Calendar 2nd Reading - Short Debate |
2021-04-13 | House | Removed from Consent Calendar Status Rep. Margaret Croke |
2021-04-13 | House | Added Co-Sponsor Rep. Seth Lewis |
2021-04-08 | House | Placed on Calendar 2nd Reading - Consent Calendar |
2021-03-24 | House | Added Co-Sponsor Rep. C.D. Davidsmeyer |
2021-03-24 | House | Added Co-Sponsor Rep. Ryan Spain |
2021-03-24 | House | Added Co-Sponsor Rep. Jeff Keicher |
2021-03-24 | House | Added Chief Co-Sponsor Rep. Jaime M. Andrade, Jr. |
2021-03-23 | House | Do Pass / Consent Calendar Financial Institutions Committee; 009-000-000 |
2021-03-23 | House | Added Co-Sponsor Rep. Janet Yang Rohr |
2021-03-23 | House | Added Chief Co-Sponsor Rep. Mark L. Walker |
2021-03-22 | House | Added Co-Sponsor Rep. Nicholas K. Smith |
2021-03-16 | House | Assigned to Financial Institutions Committee |
2021-03-09 | House | Added Co-Sponsor Rep. Adam Niemerg |
2021-03-04 | House | Referred to Rules Committee |
2021-03-04 | House | First Reading |
2021-03-03 | House | Added Co-Sponsor Rep. Terra Costa Howard |
2021-02-24 | House | Removed Co-Sponsor Rep. Mark Batinick |
2021-02-24 | House | Added Co-Sponsor Rep. Kambium Buckner |
2021-02-24 | House | Added Co-Sponsor Rep. Ann M. Williams |
2021-02-24 | House | Added Co-Sponsor Rep. Maurice A. West, II |
2021-02-24 | House | Added Co-Sponsor Rep. Anne Stava-Murray |
2021-02-24 | House | Added Co-Sponsor Rep. Bob Morgan |
2021-02-24 | House | Added Co-Sponsor Rep. Anna Moeller |
2021-02-24 | House | Added Co-Sponsor Rep. Stephanie A. Kifowit |
2021-02-24 | House | Added Co-Sponsor Rep. Robyn Gabel |
2021-02-24 | House | Added Co-Sponsor Rep. Eva-Dina Delgado |
2021-02-24 | House | Added Co-Sponsor Rep. Deb Conroy |
2021-02-24 | House | Added Co-Sponsor Rep. Kelly M. Cassidy |
2021-02-24 | House | Added Co-Sponsor Rep. Jonathan Carroll |
2021-02-24 | House | Added Co-Sponsor Rep. Mark Batinick |
2021-02-24 | House | Added Chief Co-Sponsor Rep. Michael J. Zalewski |
2021-02-22 | House | Filed with the Clerk by Rep. Margaret Croke |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
205 | 5 | 2 | Amended Code | Citation Text |
205 | 5 | 30 | Amended Code | Citation Text |
205 | 620 | 2A-1 | New Code | See Bill Text |
205 | 620 | 2A-2 | New Code | See Bill Text |
205 | 620 | 2A-3 | New Code | See Bill Text |
205 | 620 | Art. IIA heading | New Code | See Bill Text |
205 | 725 | 11 | New Code | See Bill Text |