IL SB1994 | 2025-2026 | 104th General Assembly
Status
Completed Legislative Action
Sponsorship: Slight Partisan Bill (Democrat 3-1)
Status: Passed on August 15 2025 - 100% progression
Action: 2025-08-15 - Public Act . . . . . . . . . 104-0403
Text: Latest bill text (Enrolled) [HTML]
Sponsorship: Slight Partisan Bill (Democrat 3-1)
Status: Passed on August 15 2025 - 100% progression
Action: 2025-08-15 - Public Act . . . . . . . . . 104-0403
Text: Latest bill text (Enrolled) [HTML]
Summary
Amends the Illinois Credit Union Act. Authorizes a credit union to furnish information to any person on a list submitted and periodically updated by a member who is an elderly person or person with a disability or to specified other persons, if there is suspicion by the credit union that the member has been or may become a victim of financial exploitation. Provides that the board of directors of a credit union with a composite rating of either 1 or 2 under the Uniform Financial Institutions Rating System known as the CAMELS supervisory rating system and a management rating under such composite rating of either 1 or 2 may meet not less than 4 (instead of 6) times annually. Provides that the supervisory committee of a credit union with assets of less than $10,000,000 may, at its option, engage (instead of a credit union with assets of $5,000,000 or more, but less than $10,000,000 shall engage) a licensed certified public accountant or licensed certified public accounting firm to perform specified auditing and other services. Permits the merger of credit unions, without meeting certain voting and notice requirements, where supervisory concerns exist and upon agreement of the boards of directors of the merging and continuing credit unions, as confirmed by a majority vote of the directors present at a meeting of each board at which a quorum is present. Makes other changes.
Title
CREDIT UNIONS-VARIOUS
Sponsors
Roll Calls
2025-05-31 - Senate - Concurrence in Senate (Y: 57 N: 0 NV: 2 Abs: 0) [PASS]
2025-05-29 - Senate - Senate Executive Committee (Y: 12 N: 0 NV: 1 Abs: 0) [PASS]
2025-05-28 - House - Third Reading in House (Y: 114 N: 0 NV: 1 Abs: 1) [PASS]
2025-05-20 - House - House Financial Institutions & Licensing Committee (Y: 11 N: 0 NV: 1 Abs: 0) [PASS]
2025-04-29 - House - House Financial Institutions & Licensing Committee (Y: 11 N: 0 NV: 1 Abs: 0) [PASS]
2025-04-09 - Senate - Motion in Senate (Y: 56 N: 0 NV: 3 Abs: 0) [PASS]
2025-03-05 - Senate - Senate Financial Institutions Committee (Y: 8 N: 0 NV: 1 Abs: 0) [PASS]
2025-03-05 - Senate - Senate Financial Institutions Committee (Y: 8 N: 0 NV: 1 Abs: 0) [PASS]
2025-05-29 - Senate - Senate Executive Committee (Y: 12 N: 0 NV: 1 Abs: 0) [PASS]
2025-05-28 - House - Third Reading in House (Y: 114 N: 0 NV: 1 Abs: 1) [PASS]
2025-05-20 - House - House Financial Institutions & Licensing Committee (Y: 11 N: 0 NV: 1 Abs: 0) [PASS]
2025-04-29 - House - House Financial Institutions & Licensing Committee (Y: 11 N: 0 NV: 1 Abs: 0) [PASS]
2025-04-09 - Senate - Motion in Senate (Y: 56 N: 0 NV: 3 Abs: 0) [PASS]
2025-03-05 - Senate - Senate Financial Institutions Committee (Y: 8 N: 0 NV: 1 Abs: 0) [PASS]
2025-03-05 - Senate - Senate Financial Institutions Committee (Y: 8 N: 0 NV: 1 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2025-08-15 | Senate | Public Act . . . . . . . . . 104-0403 |
| 2025-08-15 | Senate | Effective Date January 1, 2026 |
| 2025-08-15 | Senate | Governor Approved |
| 2025-06-27 | Senate | Sent to the Governor |
| 2025-05-31 | Senate | Passed Both Houses |
| 2025-05-31 | Senate | Senate Concurs |
| 2025-05-31 | Senate | House Floor Amendment No. 1 Senate Concurs 057-000-000 |
| 2025-05-29 | Senate | House Floor Amendment No. 1 Motion To Concur Recommended Do Adopt Executive; 012-000-000 |
| 2025-05-29 | Senate | House Floor Amendment No. 1 Motion to Concur Assignments Referred to Executive |
| 2025-05-29 | Senate | House Floor Amendment No. 1 Motion to Concur Referred to Assignments |
| 2025-05-29 | Senate | House Floor Amendment No. 1 Motion to Concur Filed with Secretary Sen. David Koehler |
| 2025-05-28 | Senate | Placed on Calendar Order of Concurrence House Amendment(s) 1 - May 28, 2025 |
| 2025-05-28 | Senate | Secretary's Desk - Concurrence House Amendment(s) 1 |
| 2025-05-28 | House | Third Reading - Short Debate - Passed 114-000-000 |
| 2025-05-28 | House | Placed on Calendar Order of 3rd Reading - Short Debate |
| 2025-05-28 | House | House Floor Amendment No. 1 Adopted |
| 2025-05-23 | House | Third Reading/Final Action Deadline Extended-9(b) May 31, 2025 |
| 2025-05-22 | Senate | Added as Co-Sponsor Sen. Chris Balkema |
| 2025-05-20 | House | House Floor Amendment No. 1 Recommends Be Adopted Financial Institutions and Licensing Committee; 011-000-000 |
| 2025-05-16 | House | Held on Calendar Order of Second Reading - Short Debate |
| 2025-05-16 | House | Second Reading - Short Debate |
| 2025-05-14 | House | House Floor Amendment No. 1 Rules Refers to Financial Institutions and Licensing Committee |
| 2025-05-13 | House | House Floor Amendment No. 1 Referred to Rules Committee |
| 2025-05-13 | House | House Floor Amendment No. 1 Filed with Clerk by Rep. Jay Hoffman |
| 2025-04-30 | House | Placed on Calendar 2nd Reading - Short Debate |
| 2025-04-29 | House | Do Pass / Short Debate Financial Institutions and Licensing Committee; 011-000-000 |
| 2025-04-17 | House | Assigned to Financial Institutions and Licensing Committee |
| 2025-04-10 | House | Referred to Rules Committee |
| 2025-04-10 | House | First Reading |
| 2025-04-10 | House | Chief House Sponsor Rep. Jay Hoffman |
| 2025-04-09 | House | Arrived in House |
| 2025-04-09 | Senate | Third Reading - Passed; 056-000-000 |
| 2025-04-09 | Senate | Placed on Calendar Order of 3rd Reading |
| 2025-04-04 | Senate | Placed on Calendar Order of 3rd Reading ** |
| 2025-03-18 | Senate | Placed on Calendar Order of 3rd Reading March 19, 2025 |
| 2025-03-18 | Senate | Second Reading |
| 2025-03-05 | Senate | Placed on Calendar Order of 2nd Reading March 6, 2025 |
| 2025-03-05 | Senate | Do Pass as Amended Financial Institutions; 008-000-000 |
| 2025-03-05 | Senate | Senate Committee Amendment No. 1 Adopted |
| 2025-03-04 | Senate | Senate Committee Amendment No. 1 Assignments Refers to Financial Institutions |
| 2025-03-03 | Senate | Senate Committee Amendment No. 1 Referred to Assignments |
| 2025-03-03 | Senate | Senate Committee Amendment No. 1 Filed with Secretary by Sen. David Koehler |
| 2025-02-25 | Senate | Added as Chief Co-Sponsor Sen. Graciela Guzmán |
| 2025-02-25 | Senate | Assigned to Financial Institutions |
| 2025-02-06 | Senate | Referred to Assignments |
| 2025-02-06 | Senate | First Reading |
| 2025-02-06 | Senate | Filed with Secretary by Sen. David Koehler |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 205 | 305 | 10 | Amended Code | Citation Text |
| 205 | 305 | 19 | Amended Code | Citation Text |
| 205 | 305 | 29 | Amended Code | Citation Text |
| 205 | 305 | 34 | Amended Code | Citation Text |
| 205 | 305 | 63 | Amended Code | Citation Text |
| 750 | 47 | 25 | Amended Code | Citation Text |
