IL HB0348 | 2009-2010 | 96th General Assembly
Status
Completed Legislative Action
Spectrum: Moderate Partisan Bill (Democrat 5-1)
Status: Passed on August 7 2009 - 100% progression
Action: 2009-08-07 - Public Act . . . . . . . . . 96-0141
Text: Latest bill text (Enrolled) [HTML]
Spectrum: Moderate Partisan Bill (Democrat 5-1)
Status: Passed on August 7 2009 - 100% progression
Action: 2009-08-07 - Public Act . . . . . . . . . 96-0141
Text: Latest bill text (Enrolled) [HTML]
Summary
Amends the Illinois Credit Union Act. Provides that in determining the appropriate balance in the allowance for loan losses account, a credit union may determine its historical loss rate using a defined period of time of less than 5 years, provided that specified criteria are met. Provides that shares issued in trust may serve as the subscription to a share required under specified provisions for a trustee having the same social security number as the grantor. Contains provisions concerning marketing of services by a credit union. Provides that credit unions may make residential real estate mortgage loans on terms and conditions established by the United States Department of Agriculture through its Rural Development Housing and Community Facilities Program and that the portion of any loan in excess of the appraised value of the real estate shall be allocable only to the guarantee fee required under the program. Imposes conditions on any rulemaking authority. Effective immediately.
Title
CREDIT UNIONS-REGULATIONS
Sponsors
| Rep. Daniel Beiser [D] | Rep. Lisa Dugan [D] | Rep. Thomas Holbrook [D] | Rep. Bill Mitchell [R] |
| Rep. Michael Smith [D] | Rep. Patrick Verschoore [D] |
Roll Calls
2009-05-13 - Senate - Third Reading in Senate (Y: 51 N: 0 NV: 3 Abs: 0) [PASS]
2009-03-03 - House - Third Reading in House (Y: 70 N: 34 NV: 6 Abs: 0) [PASS]
2009-03-03 - House - Third Reading in House (Y: 70 N: 34 NV: 6 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2009-08-07 | Public Act . . . . . . . . . 96-0141 | |
| 2009-08-07 | Effective Date August 7, 2009 | |
| 2009-08-07 | Governor Approved | |
| 2009-06-11 | Sent to the Governor | |
| 2009-05-13 | Passed Both Houses | |
| 2009-05-13 | Third Reading - Passed; 056-000-001 | |
| 2009-05-13 | Added as Alternate Co-Sponsor Sen. Bill Brady | |
| 2009-05-07 | Placed on Calendar Order of 3rd Reading May 12, 2009 | |
| 2009-05-07 | Second Reading | |
| 2009-04-30 | Added as Alternate Chief Co-Sponsor Sen. David Koehler | |
| 2009-04-30 | Placed on Calendar Order of 2nd Reading May 5, 2009 | |
| 2009-04-30 | Do Pass Financial Institutions; 011-000-000 | |
| 2009-04-22 | Assigned to Financial Institutions | |
| 2009-03-06 | Referred to Assignments | |
| 2009-03-06 | First Reading | |
| 2009-03-05 | Chief Senate Sponsor Sen. William R. Haine | |
| 2009-03-04 | Placed on Calendar Order of First Reading March 5, 2009 | |
| 2009-03-04 | Arrive in Senate | |
| 2009-03-03 | Third Reading - Short Debate - Passed 070-034-000 | |
| 2009-03-03 | Added Co-Sponsor Rep. Lisa M. Dugan | |
| 2009-02-24 | Placed on Calendar Order of 3rd Reading - Short Debate | |
| 2009-02-24 | Second Reading - Short Debate | |
| 2009-02-19 | Added Chief Co-Sponsor Rep. Daniel V. Beiser | |
| 2009-02-19 | Added Chief Co-Sponsor Rep. Patrick J. Verschoore | |
| 2009-02-19 | Added Chief Co-Sponsor Rep. Michael K. Smith | |
| 2009-02-19 | Added Chief Co-Sponsor Rep. Bill Mitchell | |
| 2009-02-19 | Placed on Calendar 2nd Reading - Short Debate | |
| 2009-02-18 | Do Pass as Amended / Short Debate Financial Institutions Committee; 019-000-000 | |
| 2009-02-18 | House Committee Amendment No. 1 Adopted in Financial Institutions Committee; by Voice Vote | |
| 2009-02-18 | House Committee Amendment No. 1 Filed with Clerk by Financial Institutions Committee | |
| 2009-02-11 | Assigned to Financial Institutions Committee | |
| 2009-01-27 | Referred to Rules Committee | |
| 2009-01-27 | First Reading | |
| 2009-01-26 | Filed with the Clerk by Rep. Thomas Holbrook |
