|
| Public Act 103-0959
|
| SB3235 Enrolled | LRB103 37444 RTM 67566 b |
|
|
|
AN ACT concerning regulation.
|
Be it enacted by the People of the State of Illinois, |
represented in the General Assembly:
|
Section 5. The Commission on Equity and Inclusion Act is |
amended by changing Section 40-10 as follows:
|
(30 ILCS 574/40-10) |
Sec. 40-10. Powers and duties. In addition to the other |
powers and duties which may be prescribed in this Act or |
elsewhere, the Commission shall have the following powers and |
duties: |
(1) The Commission shall have a role in all State and |
university procurement by facilitating and streamlining |
communications between the Business Enterprise Council for |
Minorities, Women, and Persons with Disabilities, the |
purchasing entities, the Chief Procurement Officers, and |
others. |
(2) The Commission may create a scoring evaluation for |
State agency directors, public university presidents and |
chancellors, and public community college presidents. The |
scoring shall be based on the following 3 principles: (i) |
increasing capacity; (ii) growing revenue; and (iii) |
enhancing credentials. These principles should be the |
foundation of the agency compliance plan required under |
|
Section 6 of the Business Enterprise for Minorities, |
Women, and Persons with Disabilities Act. |
(3) The Commission shall exercise the authority and |
duties provided to it under Section 5-7 of the Illinois |
Procurement Code. |
(4) The Commission, working with State agencies, shall |
provide support for diversity in State hiring. |
(5) The Commission shall oversee the implementation of |
diversity training of the State workforce. |
(6) Each January, and as otherwise frequently as may |
be deemed necessary and appropriate by the Commission, the |
Commission shall propose and submit to the Governor and |
the General Assembly legislative changes to increase |
inclusion and diversity in State government. |
(7) The Commission shall have oversight over the |
following entities: |
(A) the Illinois African-American Family |
Commission; |
(B) the Illinois Latino Family Commission; |
(C) the Asian American Family Commission; |
(D) the Illinois Muslim American Advisory Council; |
(E) the Illinois African-American Fair Contracting |
Commission created under Executive Order 2018-07; and |
(F) the Business Enterprise Council for |
Minorities, Women, and Persons with Disabilities. |
(8) The Commission shall adopt any rules necessary for |
|
the implementation and administration of the requirements |
of this Act. |
(9) The Commission shall exercise the authority and |
duties provided to it under Section 45-57 of the Illinois |
Procurement Code. |
(10) The Commission is responsible for completing |
studies as required by Section 35-15 of the Illinois |
Community Reinvestment Act. |
(Source: P.A. 101-657, eff. 1-1-22; 102-29, eff. 6-25-21; |
102-671, eff. 11-30-21.)
|
Section 10. The Illinois Community Reinvestment Act is |
amended by changing Sections 35-5 and 35-15 as follows:
|
(205 ILCS 735/35-5) |
Sec. 35-5. Definitions. As used in this Act: |
"Commission" means the Commission on Equity and Inclusion. |
"Covered financial institution" means a bank chartered |
under the Illinois Banking Act, a savings bank chartered under |
the Illinois Savings Bank Act, a credit union incorporated |
under the Illinois Credit Union Act, an entity licensed under |
the Illinois Residential Mortgage License Act of 1987 which |
lent or originated 50 or more residential mortgage loans in |
the previous calendar year, and any other financial |
institution under the jurisdiction of the Department as |
designated by rule by the Secretary. |
|
"Department" means the Department of Financial and |
Professional Regulation. |
"Division of Banking" means the Division of Banking within |
the Department. |
"Division of Financial Institutions" means the Division of |
Financial Institutions within the Department. |
"Secretary" means the Secretary of Financial and |
Professional Regulation, or his or her designee, including the |
Director of the Division of Banking or the Director of the |
Division of Financial Institutions. |
(Source: P.A. 101-657, eff. 3-23-21.)
|
(205 ILCS 735/35-15) |
Sec. 35-15. Examinations. |
(a) The Secretary shall have the authority to examine each |
covered financial institution for compliance with this Act, in |
consultation with State and federal regulators with an |
appropriate regulatory interest, for and in compliance with |
applicable State and federal fair lending laws, including, but |
not limited to, the Illinois Human Rights Act, the federal |
Equal Credit Opportunity Act, and the federal Home Mortgage |
Disclosure Act, as often as the Secretary deems necessary and |
proper. The Secretary may adopt rules with respect to the |
frequency and manner of examination including the imposition |
of examination fees. The Secretary shall appoint a suitable |
person to perform such examination. The Secretary and his or |
|
her appointees may examine the entire books, records, |
documents, and operations of each covered financial |
institution, its parent company, and its subsidiaries, |
affiliates, or agents, and may examine any of the covered |
financial institution's, its parent company's or its |
subsidiaries', affiliates', or agents' officers, directors, |
employees, and agents under oath. Any document or record |
prepared or obtained in connection with or relating to any |
such examination, and any record prepared or obtained by the |
Secretary to the extent that the record summarizes or contains |
information derived from any document or record described in |
this subsection (a), shall not be disclosed to the public |
unless otherwise provided by this Act. |
(b) Upon the completion of the examination of a covered |
financial institution under this Section, the Secretary shall |
prepare a written evaluation of the covered financial |
institution's record of performance relative to this Act. Each |
written evaluation required under this subsection (b) shall |
have a public section, which shall include no less information |
than would be disclosed in a written evaluation under the |
federal Community Reinvestment Act, and a confidential |
section. The Secretary shall give the covered financial |
institution an opportunity to comment on the evaluation, and |
then shall make the public section of the written evaluation |
open to public inspection upon request. The written evaluation |
shall include, but is not limited to: |
|
(1) the assessment factors utilized to determine the |
covered financial institution's descriptive rating; |
(2) the Secretary's conclusions with respect to each |
such assessment factor; |
(3) a discussion of the facts supporting such |
conclusions; |
(4) the covered financial institution's descriptive |
rating and the basis therefor; and |
(5) a summary of public comments. |
(c) Based upon the examination, the covered financial |
institution shall be assigned one of the following ratings: |
(1) outstanding record of performance in meeting its |
community financial services needs; |
(2) satisfactory record of performance in meeting its |
community financial services needs; |
(3) needs to improve record of performance in meeting |
its community services needs; or |
(4) substantial noncompliance in meeting its community |
financial services needs. |
(d) Notwithstanding the foregoing provisions of this |
Section, the Secretary may establish an alternative |
examination procedure for any covered financial institution, |
which, as of the most recent examination, has been assigned a |
rating of outstanding or satisfactory for its record of |
performance in meeting its community financial services needs. |
(e) The Commission shall conduct studies to: |
|
(1) identify and delineate geographies in Illinois |
exhibiting significant disparities by protected classes as |
identified by the Human Rights Act with respect to: |
(A) access to financial products or services, |
including, but not limited to, physical branches of |
covered financial institutions; and |
(B) lending and investments by covered financial |
institutions; |
|
(2) identify policies, procedures, patterns, or |
practices that have or may have a disparate impact or |
discriminatory effect; and |
(3) identify opportunities for establishing and |
growing Banking Development Districts in geographic |
locations where there are the greatest underbanked and |
unbanked populations and opportunities for partnerships |
between depository institutions and local communities. |
(f) The Secretary may implement the findings and other |
results from such studies into the examination process through |
rules adopted in accordance with the Illinois Administrative |
Procedure Act. |
(g) Any costs incurred by the Commission in conducting |
such studies shall be subject to appropriation and not funded |
by the examination fees paid by covered financial institutions |
under subsection (a). |
(h) The Commission shall provide reports of its findings |
and shall furnish copies of the reports to the General |
