Illinois House Bill 107 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 14 2015 - 25% progression, died in committee
Action: 2016-04-22 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Engrossed) [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
2016-04-22	House	Rule 19(a) / Re-referred to Rules Committee
2016-02-16	House	Placed on Calendar Order of 3rd Reading - Standard Debate
2016-02-16	House	Approved for Consideration Rules Committee; 004-000-000
2015-04-24	House	Rule 19(a) / Re-referred to Rules Committee
2015-03-25	House	Placed on Calendar Order of 3rd Reading - Standard Debate
2015-03-17	House	Fiscal Note Filed
2015-03-12	House	Held on Calendar Order of Second Reading - Standard Debate
2015-03-12	House	Second Reading - Standard Debate
2015-03-12	House	Fiscal Note Requested by Rep. Ron Sandack
2015-03-11	House	Placed on Calendar 2nd Reading - Standard Debate
2015-03-10	House	Do Pass / Standard Debate Financial Institutions Committee; 012-011-000
2015-02-03	House	Assigned to Financial Institutions Committee
2015-01-14	House	Referred to Rules Committee
2015-01-14	House	First Reading
2015-01-14	House	Filed with the Clerk by Rep. Mary E. Flowers

Chapter	Article	Section	Citation Type	Statute Text
30	5	3-1	Amended Code	Citation Text
735	30	15-5-46	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=107&GAID=13&DocTypeID=HB&SessionID=88&GA=99
Text	https://www.ilga.gov/legislation/99/HB/09900HB0107.htm
Text	https://www.ilga.gov/legislation/99/HB/09900HB0107eng.htm