Bill Status of HB 2980   101st General Assembly

Short Description:  BANKING-CANNABIS BUSINESSES

House Sponsors
Rep. Jehan Gordon-Booth-Bob Morgan-Kelly M. Cassidy

Last Action  View All Actions

DateChamber Action
  1/13/2021HouseSession Sine Die

Statutes Amended In Order of Appearance
205 ILCS 5/48
205 ILCS 5/48.3from Ch. 17, par. 360.2
205 ILCS 305/8from Ch. 17, par. 4409
205 ILCS 305/9.1

Synopsis As Introduced
Amends the Illinois Banking Act and the Illinois Credit Union Act. Provides that the Secretary of Financial and Professional Regulation shall not: issue an order against a financial institution for unsafe or unsound banking practices solely because the entity provides financial services to a cannabis-related legitimate business; prohibit, penalize, or otherwise discourage a financial institution from providing financial services to a cannabis-related legitimate business solely because the entity provides financial services to a cannabis-related legitimate business; recommend, incentivize, or encourage a financial institution not to offer financial services to an account holder or to downgrade or cancel the financial services offered to an account holder solely because the account holder is a manufacturer or producer or is the owner, operator, or employee of a cannabis-related legitimate business, the account holder later becomes an owner or operator of a cannabis-related legitimate business, or the financial institution was not aware that the account holder is the owner or operator of a cannabis-related legitimate business; and take any adverse or corrective supervisory action on a loan made to an owner or operator of a cannabis-related legitimate business solely because the owner or operator owns or operates a cannabis-related legitimate business or an owner or operator of real estate or equipment that is leased to a cannabis-related legitimate business solely because the owner or operator of the real estate or equipment leased the equipment or real estate to a cannabis-related legitimate business. Authorizes the Secretary to furnish confidential supervisory information relating to a financial institution providing financial services to cannabis-related businesses, limited to the name, contact information, and such other information as the Secretary determines is prudent, to the Illinois State Treasurer. Effective immediately.

Actions 
DateChamber Action
  2/14/2019HouseFiled with the Clerk by Rep. Kelly M. Cassidy
  2/14/2019HouseFirst Reading
  2/14/2019HouseReferred to Rules Committee
  2/21/2019HouseAdded Chief Co-Sponsor Rep. Bob Morgan
  2/26/2019HouseAssigned to Executive Committee
  3/13/2019HouseRe-assigned to Judiciary - Criminal Committee
  3/13/2019HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Kelly M. Cassidy
  3/13/2019HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  3/14/2019HouseChief Sponsor Changed to Rep. Jehan Gordon-Booth
  3/19/2019HouseHouse Committee Amendment No. 1 Rules Refers to Judiciary - Criminal Committee
  3/19/2019HouseAdded Chief Co-Sponsor Rep. Kelly M. Cassidy
  3/29/2019HouseRule 19(a) / Re-referred to Rules Committee
  3/29/2019HouseHouse Committee Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee
  1/13/2021HouseSession Sine Die

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