Bill Status of HB 5372   103rd General Assembly

Short Description:  CREDIT UNIONS-EXAMINATION FEES

House Sponsors
Rep. Jay Hoffman

Last Action  View All Actions

DateChamber Action
  4/19/2024HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
30 ILCS 105/5.1015 new
205 ILCS 305/2from Ch. 17, par. 4403
205 ILCS 305/8from Ch. 17, par. 4409
205 ILCS 305/9from Ch. 17, par. 4410
205 ILCS 305/12.5 new
205 ILCS 305/13from Ch. 17, par. 4414
205 ILCS 305/39from Ch. 17, par. 4440
205 ILCS 305/59from Ch. 17, par. 4460

Synopsis As Introduced
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.

Actions 
DateChamber Action
  2/9/2024HouseFiled with the Clerk by Rep. Jay Hoffman
  2/9/2024HouseFirst Reading
  2/9/2024HouseReferred to Rules Committee
  2/28/2024HouseAssigned to Financial Institutions and Licensing Committee
  3/20/2024HouseDo Pass / Short Debate Financial Institutions and Licensing Committee; 011-000-000
  3/21/2024HousePlaced on Calendar 2nd Reading - Short Debate
  3/27/2024HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Jay Hoffman
  3/27/2024HouseHouse Floor Amendment No. 1 Referred to Rules Committee
  4/1/2024HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Jay Hoffman
  4/1/2024HouseHouse Floor Amendment No. 2 Referred to Rules Committee
  4/2/2024HouseHouse Floor Amendment No. 1 Rules Refers to Financial Institutions and Licensing Committee
  4/2/2024HouseHouse Floor Amendment No. 2 Rules Refers to Financial Institutions and Licensing Committee
  4/2/2024HouseHouse Floor Amendment No. 2 Recommends Be Adopted Financial Institutions and Licensing Committee; 012-000-000
  4/16/2024HouseHouse Floor Amendment No. 1 Motion Filed to Table Rep. Jay Hoffman
  4/17/2024HouseSecond Reading - Short Debate
  4/17/2024HouseHeld on Calendar Order of Second Reading - Short Debate
  4/19/2024HouseRule 19(a) / Re-referred to Rules Committee
  4/19/2024HouseHouse Floor Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee
  4/19/2024HouseHouse Floor Amendment No. 2 Rule 19(c) / Re-referred to Rules Committee
  4/19/2024HouseHouse Floor Amendment No. 1 Rule 19(c) / Motion Re-referred to Rules Committee

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