IL HB5052 | 2021-2022 | 102nd General Assembly
Status
Spectrum: Partisan Bill (Democrat 6-0)
Status: Engrossed on March 1 2022 - 50% progression, died in chamber
Action: 2023-01-06 - Alternate Chief Sponsor Changed to Sen. Don Harmon
Text: Latest bill text (Engrossed) [HTML]
Status: Engrossed on March 1 2022 - 50% progression, died in chamber
Action: 2023-01-06 - Alternate Chief Sponsor Changed to Sen. Don Harmon
Text: Latest bill text (Engrossed) [HTML]
Summary
Amends the Community Development Loan Guarantee Act. Provides that the State Treasurer may establish the Loan Guarantee Program by establishing one or more Loan Guarantee Accounts at approved financial institutions (currently, one Account as a special account outside the State treasury with the State Treasurer as custodian). Provides that moneys in a Loan Guarantee Account may be paid to a participating financial institution to cover losses on guaranteed loans up to the full amount in the Account or the amount of loss, whichever is lesser. Provides that the State of Illinois and the State Treasurer shall not be responsible for any losses in excess of the full amount in the Loan Guarantee Account designated for a participating financial institution. Provides that the State Treasurer may withdraw funds from any Loan Guarantee Account for a financial institution's failure to comply with Program requirements. Makes conforming and other changes. Effective immediately.
Title
STATE TREASURER-LOAN GUARANTEE
Sponsors
| Rep. Sonya Harper [D] | Rep. Justin Slaughter [D] | Sen. Lakesia Collins [D] | Rep. Cyril Nichols [D] |
| Rep. Jehan Gordon-Booth [D] | Sen. Don Harmon [D] |
Roll Calls
2022-03-01 - House - Third Reading in House (Y: 72 N: 36 NV: 2 Abs: 1) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2023-01-06 | Senate | Alternate Chief Sponsor Changed to Sen. Don Harmon |
| 2023-01-06 | Senate | Senate Floor Amendment No. 1 Referred to Assignments |
| 2023-01-06 | Senate | Senate Floor Amendment No. 1 Filed with Secretary by Sen. Don Harmon |
| 2023-01-03 | Senate | Placed on Calendar Order of 3rd Reading January 4, 2023 |
| 2023-01-03 | Senate | Approved for Consideration Assignments |
| 2023-01-01 | Senate | Pursuant to Senate Rule 3-9(b) / Referred to Assignments |
| 2022-11-16 | Senate | Placed on Calendar Order of 3rd Reading November 29, 2022 |
| 2022-11-16 | Senate | Approved for Consideration Assignments |
| 2022-05-10 | Senate | Pursuant to Senate Rule 3-9(b) / Referred to Assignments |
| 2022-04-07 | Senate | Placed on Calendar Order of 3rd Reading April 8, 2022 |
| 2022-04-07 | Senate | Second Reading |
| 2022-04-07 | Senate | Rule 2-10 Third Reading Deadline Established As April 8, 2022 |
| 2022-04-07 | Senate | Placed on Calendar Order of 2nd Reading |
| 2022-04-07 | Senate | Approved for Consideration Assignments |
| 2022-03-02 | Senate | Referred to Assignments |
| 2022-03-02 | Senate | First Reading |
| 2022-03-02 | Senate | Chief Senate Sponsor Sen. Christopher Belt |
| 2022-03-02 | Senate | Placed on Calendar Order of First Reading |
| 2022-03-02 | Senate | Arrive in Senate |
| 2022-03-02 | House | Added Co-Sponsor Rep. Jehan Gordon-Booth |
| 2022-03-01 | House | Third Reading - Short Debate - Passed 072-036-000 |
| 2022-02-23 | House | Added Co-Sponsor Rep. Cyril Nichols |
| 2022-02-23 | House | Added Co-Sponsor Rep. Lakesia Collins |
| 2022-02-23 | House | Added Co-Sponsor Rep. Justin Slaughter |
| 2022-02-22 | House | Placed on Calendar Order of 3rd Reading - Short Debate |
| 2022-02-22 | House | Second Reading - Short Debate |
| 2022-02-16 | House | Placed on Calendar 2nd Reading - Short Debate |
| 2022-02-15 | House | Do Pass / Short Debate Financial Institutions Committee; 007-003-000 |
| 2022-02-09 | House | Assigned to Financial Institutions Committee |
| 2022-01-27 | House | Referred to Rules Committee |
| 2022-01-27 | House | First Reading |
| 2022-01-26 | House | Filed with the Clerk by Rep. Sonya M. Harper |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 15 | 516 | 30-10 | Amended Code | Citation Text |
| 15 | 516 | 30-15 | Amended Code | Citation Text |
| 15 | 516 | 30-25 | Amended Code | Citation Text |
| 15 | 516 | 30-30 | Amended Code | Citation Text |
