Illinois House Bill 5476 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 4 2010 - 25% progression, died in committee
Action: 2010-05-28 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

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 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.

COMMUNITY BANK OF IL ACT

Rep. Mary Flowers [D]

Date	Chamber	Action
2010-05-28		Rule 19(a) / Re-referred to Rules Committee
2010-05-07		Final Action Deadline Extended-9(b) May 28, 2010
2010-04-30		Final Action Deadline Extended-9(b) May 8, 2010
2010-03-26		Final Action Deadline Extended-9(b) April 30, 2010
2010-03-25		Held on Calendar Order of Second Reading - Short Debate
2010-03-25		Second Reading - Short Debate
2010-03-16		House Committee Amendment No. 1 State Mandates Fiscal Note Filed as Amended
2010-03-15		House Committee Amendment No. 1 Fiscal Note Filed as Amended
2010-03-15		House Committee Amendment No. 1 Fiscal Note Filed as Amended
2010-03-09		House Committee Amendment No. 1 State Mandates Fiscal Note Requested as Amended by Rep. William B. Black
2010-03-09		House Committee Amendment No. 1 Fiscal Note Requested as Amended by Rep. William B. Black
2010-03-02		Placed on Calendar 2nd Reading - Short Debate
2010-03-02		Do Pass as Amended / Short Debate Consumer Protection Committee; 008-005-000
2010-03-02		House Committee Amendment No. 1 Adopted in Consumer Protection Committee; by Voice Vote
2010-03-02		House Committee Amendment No. 1 Filed with Clerk by Consumer Protection Committee
2010-02-16		Assigned to Consumer Protection Committee
2010-02-05		Referred to Rules Committee
2010-02-05		First Reading
2010-02-04		Filed with the Clerk by Rep. Mary E. Flowers

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=5476&GAID=10&DocTypeID=HB&SessionID=76&GA=96
Text	https://www.ilga.gov/legislation/96/HB/09600HB5476.htm