Bill Title: Amends the Deposit of State Moneys Act and the Public Funds Investment Act. Provides that the State Treasurer or any public agency may consider the current and historical ratings that a financial institution has received under the Illinois Community Reinvestment Act when deciding whether to deposit State or public funds in that financial institution. Provides that, effective January 1, 2026, no State or public funds may be deposited in a financial institution subject to the Illinois Community Reinvestment Act unless either (i) the institution has a current rating of satisfactory or outstanding under the Illinois Community Reinvestment Act or (ii) the Department of Financial and Professional Regulation has not yet completed its initial examination of the institution pursuant to the Illinois Community Reinvestment Act. Makes conforming changes. Effective January 1, 2026.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2025-02-04 - Assigned to Financial Institutions [SB1301 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2025-01-28	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois SB1301

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB1301 currently on file.

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