Illinois House Bill 5372

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 9 2024 - 25% progression
Action: 2024-04-19 - House Floor Amendment No. 1 Rule 19(c) / Motion Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Credit Union Act. Provides that a credit union regulated by the Department of Financial and Professional Regulation that is a covered financial institution under the Illinois Community Reinvestment Act shall pay an examination fee to the Department subject to the rules adopted by the Department. Provides that the aggregate of all credit union examination fees collected by the Department under the Illinois Community Reinvestment Act shall be paid and transferred promptly, accompanied by a detailed statement, into the State Treasury and shall be set apart in the Credit Union Community Reinvestment Act Fund. Provides the limits to the amounts of funds that a credit union may invest in the purchase of an investment interest in a pool of loans when the investment is greater than the net worth of the credit union. Provides that credit unions may invest funds in derivatives transactions to aid in the credit union's management of interest rate risk if certain specified conditions are satisfied. Makes changes to provisions concerning conflicts between bylaws adopted by the subscribers of a credit union and the Act. Makes changes to provisions concerning rules adopted by the Secretary of Financial and Professional Regulation and the Act. Makes other changes. Amends the State Finance Act. Creates the Credit Union Community Reinvestment Act Fund. Effective immediately.

CREDIT UNIONS-EXAMINATION FEES

Rep. Jay Hoffman [D]

Date	Chamber	Action
2024-04-19	House	House Floor Amendment No. 1 Rule 19(c) / Motion Re-referred to Rules Committee
2024-04-19	House	House Floor Amendment No. 2 Rule 19(c) / Re-referred to Rules Committee
2024-04-19	House	House Floor Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee
2024-04-19	House	Rule 19(a) / Re-referred to Rules Committee
2024-04-17	House	Held on Calendar Order of Second Reading - Short Debate
2024-04-17	House	Second Reading - Short Debate
2024-04-16	House	House Floor Amendment No. 1 Motion Filed to Table Rep. Jay Hoffman
2024-04-02	House	House Floor Amendment No. 2 Recommends Be Adopted Financial Institutions and Licensing Committee; 012-000-000
2024-04-02	House	House Floor Amendment No. 2 Rules Refers to Financial Institutions and Licensing Committee
2024-04-02	House	House Floor Amendment No. 1 Rules Refers to Financial Institutions and Licensing Committee
2024-04-01	House	House Floor Amendment No. 2 Referred to Rules Committee
2024-04-01	House	House Floor Amendment No. 2 Filed with Clerk by Rep. Jay Hoffman
2024-03-27	House	House Floor Amendment No. 1 Referred to Rules Committee
2024-03-27	House	House Floor Amendment No. 1 Filed with Clerk by Rep. Jay Hoffman
2024-03-21	House	Placed on Calendar 2nd Reading - Short Debate
2024-03-20	House	Do Pass / Short Debate Financial Institutions and Licensing Committee; 011-000-000
2024-02-28	House	Assigned to Financial Institutions and Licensing Committee
2024-02-09	House	Referred to Rules Committee
2024-02-09	House	First Reading
2024-02-09	House	Filed with the Clerk by Rep. Jay Hoffman

Chapter	Article	Section	Citation Type	Statute Text
205	305	12.5	New Code	See Bill Text
205	305	13	Amended Code	Citation Text
205	305	2	Amended Code	Citation Text
205	305	39	Amended Code	Citation Text
205	305	59	Amended Code	Citation Text
205	305	8	Amended Code	Citation Text
205	305	9	Amended Code	Citation Text
30	105	5.1015	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=5372&GAID=17&DocTypeID=HB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/HB/10300HB5372.htm
Amendment	https://www.ilga.gov/legislation/103/HB/10300HB5372ham001.htm
Amendment	https://www.ilga.gov/legislation/103/HB/10300HB5372ham002.htm