Bill Status of SB 1556   102nd General Assembly

Short Description:  FINANCIAL LITERACY TASK FORCE

Senate Sponsors
Sen. Celina Villanueva-Jacqueline Y. Collins

Last Action  View All Actions

DateChamber Action
  1/10/2023SenateSession Sine Die

Statutes Amended In Order of Appearance
New Act

Synopsis As Introduced
Creates the Equity through Financial Literacy Task Force Act. Creates the Equity through Financial Literacy Task Force. Provides for membership of the Task Force. Provides that no less than one-third of the members of the Task Force shall reside in areas outside of the Chicago metropolitan area. Provides that members of the Task Force shall serve without compensation, except that the young adult and college student appointees of the Task Force shall receive a stipend for serving as members. Provides for meetings of the Task Force. Provides that the Office of the Governor shall provide administrative and other support to the Task Force. Provides for duties of the Task Force. Requires the Task Force to submit a report of recommendations to the General Assembly and Governor on or before December 31, 2021. Provides for the content of the report. Provides purpose and legislative intent provisions. Repeals the Act on January 1, 2023. Effective immediately.

Senate Committee Amendment No. 1
Replaces everything after the enacting clause. Creates the Financial Literacy Task Force Act (rather than the Equity through Financial Literacy Task Force Act). Creates the Financial Literacy Task Force to study and identify best practices for increasing the financial capacity of young adults in Illinois and develop recommendations for increasing the availability, uptake, and positive outcomes of financial education in this State's postsecondary academic institutions. Provides for membership of the Task Force. Provides that members appointed to the Commission must reflect the racial, ethnic, religious, and geographic diversity of this State. Provides for administrative support for the Task Force. Provides meeting requirements. Provides that members of the Task Force shall serve without compensation. Provides that on or before December 31, 2022, the Task Force shall submit a report to the Governor and General Assembly regarding financial literacy education in postsecondary academic institutions. Provides for contents of the report. Repeals the Act on January 1, 2024. Effective immediately.

Actions 
DateChamber Action
  2/26/2021SenateFiled with Secretary by Sen. Celina Villanueva
  2/26/2021SenateFirst Reading
  2/26/2021SenateReferred to Assignments
  3/5/2021SenateAdded as Chief Co-Sponsor Sen. Jacqueline Y. Collins
  3/9/2021SenateAssigned to Human Rights
  3/19/2021SenatePostponed - Human Rights
  4/9/2021SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Celina Villanueva
  4/9/2021SenateSenate Committee Amendment No. 1 Referred to Assignments
  4/13/2021SenateSenate Committee Amendment No. 1 Assignments Refers to Human Rights
  4/15/2021SenateSenate Committee Amendment No. 1 Adopted
  4/15/2021SenateDo Pass as Amended Human Rights; 007-000-000
  4/15/2021SenatePlaced on Calendar Order of 2nd Reading April 20, 2021
  4/16/2021SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Celina Villanueva
  4/16/2021SenateSenate Floor Amendment No. 2 Referred to Assignments
  4/20/2021SenateSenate Floor Amendment No. 2 Assignments Refers to Human Rights
  4/23/2021SenateRule 3-9(a) / Re-referred to Assignments
  7/16/2021SenateSenate Floor Amendment No. 2 Pursuant to Senate Rule 3-9(b) / Referred to Assignments
  1/10/2023SenateSession Sine Die

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