Bill Status of HB 6645   95th General Assembly

Short Description:  STATE FUNDS-DEPOSIT-MORTGAGES

House Sponsors
Rep. Brent Hassert-Ronald A. Wait-Renée Kosel-Rosemary Mulligan-Michael Tryon, Jim Durkin, Patricia R. Bellock and Sandra M. Pihos

Last Action  View All Actions

DateChamber Action
  1/13/2009HouseSession Sine Die

Statutes Amended In Order of Appearance
15 ILCS 520/16.4 new

Synopsis As Introduced
Amends the Deposit of State Moneys Act. Requires the State Treasurer to implement and administer, by rule, a program requiring financial institutions to make mortgage loans on residential property in order for that financial institution to be eligible for investment of State funds in that financial institution. Requires the rules to contain provisions concerning not rejecting residential mortgage loans because of the location of the property, minimum assets to be invested in residential mortgage loans, minimum annual new residential mortgage loans, and reporting and auditing. Requires the Treasurer to report annually to the General Assembly. Effective immediately.

Actions 
DateChamber Action
  5/16/2008HouseFiled with the Clerk by Rep. Brent Hassert
  5/16/2008HouseChief Co-Sponsor Rep. Ronald A. Wait
  5/16/2008HouseChief Co-Sponsor Rep. Renée Kosel
  5/16/2008HouseChief Co-Sponsor Rep. Rosemary Mulligan
  5/16/2008HouseChief Co-Sponsor Rep. Michael Tryon
  5/16/2008HouseCo-Sponsor Rep. Jim Durkin
  5/16/2008HouseCo-Sponsor Rep. Patricia R. Bellock
  5/16/2008HouseCo-Sponsor Rep. Sandra M. Pihos
  5/19/2008HouseFirst Reading
  5/19/2008HouseReferred to Rules Committee
  1/13/2009HouseSession Sine Die

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