IL HB5342 | 2013-2014 | 98th General Assembly
Status
Completed Legislative Action
Spectrum: Bipartisan Bill
Status: Passed on July 24 2014 - 100% progression
Action: 2014-07-24 - Public Act . . . . . . . . . 98-0784
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Bipartisan Bill
Status: Passed on July 24 2014 - 100% progression
Action: 2014-07-24 - Public Act . . . . . . . . . 98-0784
Text: Latest bill text (Chaptered) [HTML]
Summary
Amends the Illinois Credit Union Act. Defines "charitable donation account" and provides that a credit union may establish one or more charitable donation accounts that must comply with the requirements of the Act. Further provides that the investments and purchases to fund a charitable donation account are not subject to the investment limitations of the Act and that the aggregate book value of the investments in all charitable donation accounts shall not exceed 5% of the credit union's net worth. Adds provisions establishing the procedural requirements of the Department of Financial and Professional Regulation's examination process and prescribes the requirements of the Department's examination reports. Provides that each member of the board of directors of a credit union shall have a working familiarity with basic finance and accounting practices consistent with the size and complexity of the credit union they serve. Further provides that members of the supervisory committee of a credit union shall receive training related to their duties under the Act and establishes the acceptable forms of such training. Provides that, for a renewal, refinancing, or restructuring of an existing loan that is secured by an interest in real estate, a new appraisal of the collateral shall not be required under certain circumstances. Additionally provides that a credit union may act as a representative of and enter into an agreement with other credit unions or organizations for certain purposes. Generally effective immediately, but some provisions take effect on January 1, 2015.
Title
CREDIT UNION-EXAMINATIONS
Sponsors
Rep. Louis Lang [D] | Rep. David Leitch [R] | Rep. Michael Unes [R] | Rep. Rich Brauer [R] |
Sen. David Koehler [D] | Sen. Linda Holmes [D] | Sen. Pamela Althoff [R] | Sen. Antonio Munoz [D] |
Roll Calls
2014-05-30 - House - Concurrence in House (Y: 108 N: 0 NV: 3 Abs: 2) [PASS]
2014-05-28 - Senate - Third Reading in Senate (Y: 56 N: 0 NV: 3 Abs: 0) [PASS]
2014-03-21 - House - Third Reading in House (Y: 109 N: 0 NV: 1 Abs: 1) [PASS]
2014-05-28 - Senate - Third Reading in Senate (Y: 56 N: 0 NV: 3 Abs: 0) [PASS]
2014-03-21 - House - Third Reading in House (Y: 109 N: 0 NV: 1 Abs: 1) [PASS]
History
Date | Chamber | Action |
---|---|---|
2014-07-24 | House | Public Act . . . . . . . . . 98-0784 |
2014-07-24 | House | Effective Date July 24, 2014 |
2014-07-24 | House | Governor Approved |
2014-06-27 | House | Sent to the Governor |
2014-05-30 | House | Passed Both Houses |
2014-05-30 | House | House Concurs |
2014-05-30 | House | Senate Floor Amendment No. 1 House Concurs 108-000-001 |
2014-05-29 | House | Senate Floor Amendment No. 1 Motion to Concur Recommends Be Adopted Rules Committee; 004-000-000 |
2014-05-28 | House | Senate Floor Amendment No. 1 Motion to Concur Referred to Rules Committee |
2014-05-28 | House | Senate Floor Amendment No. 1 Motion Filed Concur Rep. Lou Lang |
2014-05-28 | House | Placed on Calendar Order of Concurrence Senate Amendment(s) 1 |
2014-05-28 | House | Arrived in House |
2014-05-28 | Senate | Third Reading - Passed; 056-000-000 |
2014-05-28 | Senate | Added as Alternate Chief Co-Sponsor Sen. Pamela J. Althoff |
2014-05-28 | Senate | Placed on Calendar Order of 3rd Reading |
2014-05-28 | Senate | Senate Floor Amendment No. 1 Adopted; Holmes |
2014-05-28 | Senate | Recalled to Second Reading |
2014-05-27 | Senate | Senate Floor Amendment No. 1 Be Approved for Consideration Assignments |
2014-05-26 | Senate | Senate Floor Amendment No. 1 Referred to Assignments |
2014-05-26 | Senate | Senate Floor Amendment No. 1 Filed with Secretary by Sen. Linda Holmes |
2014-05-23 | Senate | Rule 2-10 Committee/3rd Reading Deadline Established As May 31, 2014 |
2014-05-22 | Senate | Added as Alternate Chief Co-Sponsor Sen. Linda Holmes |
2014-05-08 | Senate | Placed on Calendar Order of 3rd Reading May 12, 2014 |
2014-05-08 | Senate | Second Reading |
2014-05-07 | Senate | Placed on Calendar Order of 2nd Reading May 8, 2014 |
2014-05-07 | Senate | Do Pass Financial Institutions; 007-000-000 |
2014-04-30 | Senate | Assigned to Financial Institutions |
2014-04-04 | Senate | Added as Alternate Co-Sponsor Sen. Antonio Muñoz |
2014-03-27 | Senate | Referred to Assignments |
2014-03-27 | Senate | First Reading |
2014-03-27 | Senate | Chief Senate Sponsor Sen. David Koehler |
2014-03-21 | Senate | Placed on Calendar Order of First Reading March 25, 2014 |
2014-03-21 | Senate | Arrive in Senate |
2014-03-21 | House | Third Reading - Short Debate - Passed 109-000-001 |
2014-03-19 | House | Placed on Calendar Order of 3rd Reading - Short Debate |
2014-03-19 | House | Second Reading - Short Debate |
2014-03-05 | House | Placed on Calendar 2nd Reading - Short Debate |
2014-03-04 | House | Do Pass as Amended / Short Debate Financial Institutions Committee; 015-000-000 |
2014-03-04 | House | House Committee Amendment No. 1 Adopted in Financial Institutions Committee; by Voice Vote |
2014-03-03 | House | House Committee Amendment No. 1 Rules Refers to Financial Institutions Committee |
2014-02-26 | House | House Committee Amendment No. 1 Referred to Rules Committee |
2014-02-26 | House | House Committee Amendment No. 1 Filed with Clerk by Rep. Lou Lang |
2014-02-21 | House | Added Chief Co-Sponsor Rep. Michael Unes |
2014-02-21 | House | Chief Co-Sponsor Changed to Rep. David R. Leitch |
2014-02-21 | House | Added Chief Co-Sponsor Rep. David R. Leitch |
2014-02-20 | House | Assigned to Financial Institutions Committee |
2014-02-13 | House | Added Co-Sponsor Rep. Rich Brauer |
2014-02-10 | House | Referred to Rules Committee |
2014-02-10 | House | First Reading |
2014-02-10 | House | Filed with the Clerk by Rep. Lou Lang |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
205 | 305 | 1.1 | Amended Code | Citation Text |
205 | 305 | 30 | Amended Code | Citation Text |
205 | 305 | 34 | Amended Code | Citation Text |
205 | 305 | 39 | Amended Code | Citation Text |
205 | 305 | 46 | Amended Code | Citation Text |
205 | 305 | 57.1 | New Code | See Bill Text |
205 | 305 | 9 | Amended Code | Citation Text |