Sen. Christopher Belt

Filed: 4/15/2024

 

 


 

 


 
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1
AMENDMENT TO SENATE BILL 3235

2    AMENDMENT NO. ______. Amend Senate Bill 3235 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Commission on Equity and Inclusion Act is
5amended by changing Section 40-10 as follows:
 
6    (30 ILCS 574/40-10)
7    Sec. 40-10. Powers and duties. In addition to the other
8powers and duties which may be prescribed in this Act or
9elsewhere, the Commission shall have the following powers and
10duties:
11        (1) The Commission shall have a role in all State and
12    university procurement by facilitating and streamlining
13    communications between the Business Enterprise Council for
14    Minorities, Women, and Persons with Disabilities, the
15    purchasing entities, the Chief Procurement Officers, and
16    others.

 

 

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1        (2) The Commission may create a scoring evaluation for
2    State agency directors, public university presidents and
3    chancellors, and public community college presidents. The
4    scoring shall be based on the following 3 principles: (i)
5    increasing capacity; (ii) growing revenue; and (iii)
6    enhancing credentials. These principles should be the
7    foundation of the agency compliance plan required under
8    Section 6 of the Business Enterprise for Minorities,
9    Women, and Persons with Disabilities Act.
10        (3) The Commission shall exercise the authority and
11    duties provided to it under Section 5-7 of the Illinois
12    Procurement Code.
13        (4) The Commission, working with State agencies, shall
14    provide support for diversity in State hiring.
15        (5) The Commission shall oversee the implementation of
16    diversity training of the State workforce.
17        (6) Each January, and as otherwise frequently as may
18    be deemed necessary and appropriate by the Commission, the
19    Commission shall propose and submit to the Governor and
20    the General Assembly legislative changes to increase
21    inclusion and diversity in State government.
22        (7) The Commission shall have oversight over the
23    following entities:
24            (A) the Illinois African-American Family
25        Commission;
26            (B) the Illinois Latino Family Commission;

 

 

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1            (C) the Asian American Family Commission;
2            (D) the Illinois Muslim American Advisory Council;
3            (E) the Illinois African-American Fair Contracting
4        Commission created under Executive Order 2018-07; and
5            (F) the Business Enterprise Council for
6        Minorities, Women, and Persons with Disabilities.
7        (8) The Commission shall adopt any rules necessary for
8    the implementation and administration of the requirements
9    of this Act.
10        (9) The Commission shall exercise the authority and
11    duties provided to it under Section 45-57 of the Illinois
12    Procurement Code.
13        (10) The Commission is responsible for completing
14    studies as required by Section 35-15 of the Illinois
15    Community Reinvestment Act.
16(Source: P.A. 101-657, eff. 1-1-22; 102-29, eff. 6-25-21;
17102-671, eff. 11-30-21.)
 
18    Section 10. The Illinois Community Reinvestment Act is
19amended by changing Sections 35-5 and 35-15 as follows:
 
20    (205 ILCS 735/35-5)
21    Sec. 35-5. Definitions. As used in this Act:
22    "Commission" means the Commission on Equity and Inclusion.
23    "Covered financial institution" means a bank chartered
24under the Illinois Banking Act, a savings bank chartered under

 

 

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1the Illinois Savings Bank Act, a credit union incorporated
2under the Illinois Credit Union Act, an entity licensed under
3the Illinois Residential Mortgage License Act of 1987 which
4lent or originated 50 or more residential mortgage loans in
5the previous calendar year, and any other financial
6institution under the jurisdiction of the Department as
7designated by rule by the Secretary.
8    "Department" means the Department of Financial and
9Professional Regulation.
10    "Division of Banking" means the Division of Banking within
11the Department.
12    "Division of Financial Institutions" means the Division of
13Financial Institutions within the Department.
14    "Secretary" means the Secretary of Financial and
15Professional Regulation, or his or her designee, including the
16Director of the Division of Banking or the Director of the
17Division of Financial Institutions.
18(Source: P.A. 101-657, eff. 3-23-21.)
 
19    (205 ILCS 735/35-15)
20    Sec. 35-15. Examinations.
21    (a) The Secretary shall have the authority to examine each
22covered financial institution for compliance with this Act, in
23consultation with State and federal regulators with an
24appropriate regulatory interest, for and in compliance with
25applicable State and federal fair lending laws, including, but

 

 

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1not limited to, the Illinois Human Rights Act, the federal
2Equal Credit Opportunity Act, and the federal Home Mortgage
3Disclosure Act, as often as the Secretary deems necessary and
4proper. The Secretary may adopt rules with respect to the
5frequency and manner of examination including the imposition
6of examination fees. The Secretary shall appoint a suitable
7person to perform such examination. The Secretary and his or
8her appointees may examine the entire books, records,
9documents, and operations of each covered financial
10institution, its parent company, and its subsidiaries,
11affiliates, or agents, and may examine any of the covered
12financial institution's, its parent company's or its
13subsidiaries', affiliates', or agents' officers, directors,
14employees, and agents under oath. Any document or record
15prepared or obtained in connection with or relating to any
16such examination, and any record prepared or obtained by the
17Secretary to the extent that the record summarizes or contains
18information derived from any document or record described in
19this subsection (a), shall not be disclosed to the public
20unless otherwise provided by this Act.
21    (b) Upon the completion of the examination of a covered
22financial institution under this Section, the Secretary shall
23prepare a written evaluation of the covered financial
24institution's record of performance relative to this Act. Each
25written evaluation required under this subsection (b) shall
26have a public section, which shall include no less information

 

 

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1than would be disclosed in a written evaluation under the
2federal Community Reinvestment Act, and a confidential
3section. The Secretary shall give the covered financial
4institution an opportunity to comment on the evaluation, and
5then shall make the public section of the written evaluation
6open to public inspection upon request. The written evaluation
7shall include, but is not limited to:
8        (1) the assessment factors utilized to determine the
9    covered financial institution's descriptive rating;
10        (2) the Secretary's conclusions with respect to each
11    such assessment factor;
12        (3) a discussion of the facts supporting such
13    conclusions;
14        (4) the covered financial institution's descriptive
15    rating and the basis therefor; and
16        (5) a summary of public comments.
17    (c) Based upon the examination, the covered financial
18institution shall be assigned one of the following ratings:
19        (1) outstanding record of performance in meeting its
20    community financial services needs;
21        (2) satisfactory record of performance in meeting its
22    community financial services needs;
23        (3) needs to improve record of performance in meeting
24    its community services needs; or
25        (4) substantial noncompliance in meeting its community
26    financial services needs.

 

 

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1    (d) Notwithstanding the foregoing provisions of this
2Section, the Secretary may establish an alternative
3examination procedure for any covered financial institution,
4which, as of the most recent examination, has been assigned a
5rating of outstanding or satisfactory for its record of
6performance in meeting its community financial services needs.
7    (e) The Commission shall conduct studies to:
8        (1) identify and delineate geographies in Illinois
9    exhibiting significant disparities by protected classes as
10    identified by the Human Rights Act with respect to:
11            (A) access to financial products or services,
12        including, but not limited to, physical branches of
13        covered financial institutions; and
14            (B) lending and investments by covered financial
15        institutions;
16        (2) identify policies, procedures, patterns, or
17    practices that have or may have a disparate impact or
18    discriminatory effect; and
19        (3) identify opportunities for establishing and
20    growing Banking Development Districts in geographic
21    locations where there are the greatest underbanked and
22    unbanked populations and opportunities for partnerships
23    between depository institutions and local communities.
24    (f) The Secretary may implement the findings and other
25results from such studies into the examination process through
26rules adopted in accordance with the Illinois Administrative

 

 

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1Procedure Act.
2    (g) Any costs incurred by the Commission in conducting
3such studies shall be subject to appropriation.
4    (h) The Commission shall provide reports of its findings
5and shall furnish copies of the reports to the General
6Assembly and the Secretary.
7    (i) The results of every study performed under this Act
8shall be publicly available on the websites of the Commission
9and the Department.
10    (j) The Commission may contract with a qualified person or
11entity to design and conduct the studies authorized under
12subsection (e).
13(Source: P.A. 101-657, eff. 3-23-21.)
 
14    Section 99. Effective date. This Act takes effect January
151, 2025.".