Illinois House Bill 1792 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Slight Partisan Bill (Democrat 6-2)
Status: Passed on August 25 2017 - 100% progression
Action: 2017-08-25 - Public Act . . . . . . . . . 100-0361
Text: Latest bill text (Chaptered) [HTML]

Amends the Illinois Credit Union Act. Provides that the par value of shares of a credit union must be at least $1 (rather than $5). Provides that the board of credit union advisors shall meet at least once each calendar year (rather than once each 6 months). Provides that credit union members may vote on questions and in elections by secure electronic record if approved by the board of directors. Changes the definition of "compliance review committee". Changes the limit on the amount of loans a credit union may make to individual members and how those limitations are set. Provides that a credit union or network credit union may create and use descriptive and brand references to promote and market its identity, services, and products to its members. Provides that corporate bonds identified as investment grade by at least one nationally recognized statistical rating organization may be invested by the credit union with funds not used in loans provided that certain criteria are satisfied. Provides that credit unions may invest funds not used in loans to aid in the credit union's management of its assets, liabilities, and liquidity in the purchase of an investment interest in a pool of loans, in whole or in part and without regard to the membership of the borrowers, from other depository institutions and financial type institutions, including mortgage banks, finance companies, insurance companies, and other loan sellers. Provides that each divisional credit union may (rather than shall) have an advisory board of directors and the advisory board of directors may (rather than the board of directors shall) appoint a divisional credit union chief management official. Provides that a divisional credit union may determine to identify its advisory board as a committee and its divisional chief management official with a title it deems reasonable and appropriate. Makes other changes. Effective immediately.

CREDIT UNIONS-VARIOUS

Rep. Louis Lang [D]	Rep. Daniel Burke [D]	Rep. Chad Hays [R]	Rep. Robert Rita [D]
Sen. David Koehler [D]	Sen. Mattie Hunter [D]	Sen. Dan McConchie [R]	Sen. Laura Murphy [D]

2017-05-29 - Senate - Third Reading in Senate (Y: 55 N: 0 NV: 4 Abs: 0) [PASS]
2017-04-07 - House - Third Reading in House (Y: 80 N: 23 NV: 2 Abs: 1) [PASS]

Date	Chamber	Action
2017-08-25	House	Public Act . . . . . . . . . 100-0361
2017-08-25	House	Effective Date August 25, 2017
2017-08-25	House	Governor Approved
2017-06-27	House	Sent to the Governor
2017-05-30	House	Passed Both Houses
2017-05-29	Senate	Third Reading - Passed; 055-000-000
2017-05-29	Senate	Added as Alternate Co-Sponsor Sen. Laura M. Murphy
2017-05-29	Senate	Added as Alternate Chief Co-Sponsor Sen. Mattie Hunter
2017-05-26	Senate	Added as Alternate Co-Sponsor Sen. Dan McConchie
2017-05-26	Senate	Rule 2-10 Third Reading Deadline Established As May 31, 2017
2017-05-12	Senate	Placed on Calendar Order of 3rd Reading May 15, 2017
2017-05-12	Senate	Second Reading
2017-05-10	Senate	Placed on Calendar Order of 2nd Reading May 11, 2017
2017-05-10	Senate	Do Pass Financial Institutions; 007-000-000
2017-05-02	Senate	Assigned to Financial Institutions
2017-04-25	Senate	Referred to Assignments
2017-04-25	Senate	First Reading
2017-04-25	Senate	Chief Senate Sponsor Sen. David Koehler
2017-04-25	Senate	Placed on Calendar Order of First Reading
2017-04-25	Senate	Arrive in Senate
2017-04-24	House	Motion to Reconsider Vote - Withdrawn Rep. Barbara Flynn Currie
2017-04-07	House	Motion Filed to Reconsider Vote Rep. Barbara Flynn Currie
2017-04-07	House	Third Reading - Short Debate - Passed 080-023-000
2017-03-23	House	Placed on Calendar Order of 3rd Reading - Short Debate
2017-03-23	House	Second Reading - Short Debate
2017-03-22	House	Placed on Calendar 2nd Reading - Short Debate
2017-03-21	House	Do Pass / Short Debate Financial Institutions Committee; 010-000-000
2017-03-09	House	Re-assigned to Financial Institutions Committee
2017-03-08	House	Added Co-Sponsor Rep. Robert Rita
2017-02-22	House	Added Co-Sponsor Rep. Chad Hays
2017-02-16	House	Added Co-Sponsor Rep. Daniel J. Burke
2017-02-14	House	Assigned to Executive Committee
2017-02-02	House	Referred to Rules Committee
2017-02-02	House	First Reading
2017-02-01	House	Filed with the Clerk by Rep. Lou Lang

Chapter	Article	Section	Citation Type	Statute Text
205	305	11	Amended Code	Citation Text
205	305	19	Amended Code	Citation Text
205	305	2	Amended Code	Citation Text
205	305	20	Amended Code	Citation Text
205	305	34.1	Amended Code	Citation Text
205	305	48	Amended Code	Citation Text
205	305	53	Amended Code	Citation Text
205	305	57	Amended Code	Citation Text
205	305	59	Amended Code	Citation Text
205	305	64.7	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1792&GAID=14&DocTypeID=HB&SessionID=91&GA=100
Text	https://www.ilga.gov/legislation/100/HB/10000HB1792.htm
Text	https://www.ilga.gov/legislation/100/HB/10000HB1792eng.htm
Text	https://www.ilga.gov/legislation/100/HB/10000HB1792enr.htm
Text	https://www.ilga.gov/legislation/publicacts/100/100-0361.htm
Roll Call	https://www.ilga.gov/legislation/votehistory/100/house/10000HB1792_04072017_019000T.pdf
Roll Call	https://www.ilga.gov/legislation/votehistory/100/senate/10000HB1792_05292017_077000T.pdf