IL SB3113 | 2025-2026 | 104th General Assembly
Status
Completed Legislative Action
Sponsorship: Partisan Bill (Democrat 2)
Status: Passed on July 10 2026 - 100% progression
Action: 2026-07-10 - Public Act . . . . . . . . . 104-0567
Text: Latest bill text (Enrolled) [HTML]
Sponsorship: Partisan Bill (Democrat 2)
Status: Passed on July 10 2026 - 100% progression
Action: 2026-07-10 - Public Act . . . . . . . . . 104-0567
Text: Latest bill text (Enrolled) [HTML]
Summary
Reinserts the provisions of the introduced bill with the following changes. Makes changes to senior management official and executive officer provisions. In provisions concerning the delegation of duties by the board of directors, provides that the board of directors may delegate to the chief management official the hiring of employees other than the chief management official, including, without limitation, vice presidents and other officers (instead of just the hiring of employees other than the chief management official), and fixing their title, grade, and compensation (instead of just their compensation). Removes provisions concerning a credit union's authority to engage in digital asset business activity and perform custodial services. Provides that, when marketing or advertising digital assets, digital asset business activities conducted by covered persons or service providers (instead of digital asset business activities), and related administrative functions to the members of the credit union, the members shall receive the specified information. Makes changes to compliance requirements in provisions concerning the investment of credit union funds in commercial mortgage related securities and collateralized mortgage obligations. Effective immediately.
Title
CREDIT UNIONS-VARIOUS
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2026-07-10 | Senate | Public Act . . . . . . . . . 104-0567 |
| 2026-07-10 | Senate | Effective Date January 1, 2027 |
| 2026-07-10 | Senate | Governor Approved |
| 2026-06-29 | Senate | Sent to the Governor |
| 2026-05-31 | Senate | Passed Both Houses |
| 2026-05-31 | Senate | Senate Concurs |
| 2026-05-31 | Senate | House Floor Amendment No. 2 Senate Concurs 050-006-000 |
| 2026-05-31 | Senate | House Floor Amendment No. 2 Motion To Concur Recommended Do Adopt Executive; 012-000-000 |
| 2026-05-31 | Senate | House Floor Amendment No. 2 Motion to Concur Assignments Referred to Executive |
| 2026-05-31 | Senate | House Floor Amendment No. 2 Motion to Concur Referred to Assignments |
| 2026-05-31 | Senate | House Floor Amendment No. 2 Motion to Concur Filed with Secretary Sen. David Koehler |
| 2026-05-31 | Senate | Placed on Calendar Order of Concurrence House Amendment(s) 2 - May 31, 2026 |
| 2026-05-31 | Senate | Secretary's Desk - Concurrence House Amendment(s) 2 |
| 2026-05-31 | House | House Floor Amendment No. 1 Tabled |
| 2026-05-31 | House | Third Reading - Short Debate - Passed 112-002-000 |
| 2026-05-31 | House | Placed on Calendar Order of 3rd Reading - Short Debate |
| 2026-05-31 | House | House Floor Amendment No. 2 Adopted |
| 2026-05-29 | House | House Floor Amendment No. 2 Recommends Be Adopted Energy & Environment Committee; 023-002-000 |
| 2026-05-29 | House | House Floor Amendment No. 2 Rules Refers to Energy & Environment Committee |
| 2026-05-28 | House | House Floor Amendment No. 2 Referred to Rules Committee |
| 2026-05-28 | House | House Floor Amendment No. 2 Filed with Clerk by Rep. Jay Hoffman |
| 2026-05-27 | House | House Floor Amendment No. 1 Rules Refers to Energy & Environment Committee |
| 2026-05-26 | House | House Floor Amendment No. 1 Referred to Rules Committee |
| 2026-05-26 | House | House Floor Amendment No. 1 Filed with Clerk by Rep. Jay Hoffman |
| 2026-05-22 | House | Third Reading/Final Action Deadline Extended-9(b) May 31, 2026 |
| 2026-05-19 | House | Held on Calendar Order of Second Reading - Short Debate |
| 2026-05-19 | House | Second Reading - Short Debate |
| 2026-05-13 | House | Placed on Calendar 2nd Reading - Short Debate |
| 2026-05-13 | House | Do Pass / Short Debate Executive Committee; 008-003-000 |
| 2026-05-12 | House | Chief House Sponsor Rep. Jay Hoffman |
| 2026-05-12 | House | Alternate Chief Sponsor Removed Rep. Ryan Spain |
| 2026-05-07 | House | Committee Deadline Extended-Rule 9(b) May 15, 2026 |
| 2026-04-27 | House | Assigned to Executive Committee |
| 2026-04-16 | House | Referred to Rules Committee |
| 2026-04-16 | House | First Reading |
| 2026-04-16 | House | Chief House Sponsor Rep. Ryan Spain |
| 2026-04-15 | House | Arrived in House |
| 2026-04-15 | Senate | Third Reading - Passed; 055-000-000 |
| 2026-04-15 | Senate | Placed on Calendar Order of 3rd Reading |
| 2026-04-15 | Senate | Senate Floor Amendment No. 2 Adopted; Koehler |
| 2026-04-15 | Senate | Recalled to Second Reading |
| 2026-04-15 | Senate | Senate Floor Amendment No. 2 Recommend Do Adopt Financial Institutions; 006-000-000 |
| 2026-04-14 | Senate | Senate Floor Amendment No. 2 Assignments Refers to Financial Institutions |
| 2026-04-01 | Senate | Senate Floor Amendment No. 2 Referred to Assignments |
| 2026-04-01 | Senate | Senate Floor Amendment No. 2 Filed with Secretary by Sen. David Koehler |
| 2026-03-24 | Senate | Placed on Calendar Order of 3rd Reading March 25, 2026 |
| 2026-03-24 | Senate | Second Reading |
| 2026-03-11 | Senate | Placed on Calendar Order of 2nd Reading March 12, 2026 |
| 2026-03-11 | Senate | Do Pass as Amended Financial Institutions; 006-000-000 |
| 2026-03-11 | Senate | Senate Committee Amendment No. 1 Adopted |
| 2026-03-10 | Senate | Senate Committee Amendment No. 1 Assignments Refers to Financial Institutions |
| 2026-03-05 | Senate | Senate Committee Amendment No. 1 Referred to Assignments |
| 2026-03-05 | Senate | Senate Committee Amendment No. 1 Filed with Secretary by Sen. David Koehler |
| 2026-02-10 | Senate | Assigned to Financial Institutions |
| 2026-02-02 | Senate | Referred to Assignments |
| 2026-02-02 | Senate | First Reading |
| 2026-02-02 | Senate | Filed with Secretary by Sen. David Koehler |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 225 | 725 | 1 | Amended Code | Citation Text |
| 225 | 725 | 14 | Amended Code | Citation Text |
| 225 | 725 | 26 | Amended Code | Citation Text |
| 225 | 725 | 6 | Amended Code | Citation Text |
| 225 | 725 | 8a | Amended Code | Citation Text |
| 225 | 725 | 8e | Amended Code | Citation Text |
