Illinois General Assembly - Bill Status for SB1932
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 Bill Status of SB1932  95th General Assembly


Senate Sponsors
Sen. Mattie Hunter - Jacqueline Y. Collins

Last Action
DateChamber Action
  1/13/2009SenateSession Sine Die

Statutes Amended In Order of Appearance
15 ILCS 520/16.4 new
30 ILCS 235/6.1 new

Synopsis As Introduced
Amends the Deposit of State Moneys Act and the Public Funds Investment Act. Requires applicant financial institutions to submit a linked deposit and public investment plan that demonstrates how it will leverage State deposits and investments to create banking, lending, and investment opportunities within low-income and moderate-income communities, particularly those near its branches, and to disclose any direct, affiliate, or subsidiary relationship with or investment in any sub-prime lending intermediary. Requires the Treasurer to give notice of applications and allow for public comment. Requires a hearing if complaints are documented. Prohibits approval of an application if complaints are substantiated. Requires linked deposit agreements and evaluations of financial institutions to be posted on the Treasurer's website.

DateChamber Action
  1/16/2008SenateFiled with Secretary by Sen. Mattie Hunter
  1/16/2008SenateFirst Reading
  1/16/2008SenateReferred to Rules
  1/25/2008SenateAdded as Chief Co-Sponsor Sen. Jacqueline Y. Collins
  1/13/2009SenateSession Sine Die

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