Illinois General Assembly - Bill Status for HB0623

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Bill Status of HB0623 95th General Assembly

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Short Description: CREDIT UNION ACT-FUND INVEST

House Sponsors
Rep. Michael K. Smith - Aaron Schock - Thomas Holbrook - Patrick J Verschoore, Kurt M. Granberg, Joseph M. Lyons and Monique D. Davis

Senate Sponsors
(Sen. David Koehler - Michael Noland)

Last Action

Date	Chamber	Action
8/13/2007	House	Public Act . . . . . . . . . 95-0124

Statutes Amended In Order of Appearance

205 ILCS 305/59

from Ch. 17, par. 4460

Synopsis As Introduced
Amends the Illinois Credit Union Act. Provides that a credit union investing to fund an employee benefit plan obligation is not subject to the investment limitations of the Illinois Credit Union Act and may purchase an investment that would otherwise be impermissible if the investment is directly related to the credit union's obligation under the employee benefit plan and the credit union holds the investment only for so long as it has an actual or potential obligation under the employee benefit plan. Effective immediately.

Actions

Date	Chamber	Action
2/5/2007	House	Filed with the Clerk by Rep. Michael K. Smith
2/5/2007	House	First Reading
2/5/2007	House	Referred to Rules Committee
2/7/2007	House	Assigned to Financial Institutions Committee
2/16/2007	House	Added Co-Sponsor Rep. Kurt M. Granberg
2/21/2007	House	Do Pass / Short Debate Financial Institutions Committee; 020-000-000
2/22/2007	House	Placed on Calendar 2nd Reading - Short Debate
2/23/2007	House	Second Reading - Short Debate
2/23/2007	House	Placed on Calendar Order of 3rd Reading - Short Debate
2/23/2007	House	Added Chief Co-Sponsor Rep. Aaron Schock
2/23/2007	House	Added Chief Co-Sponsor Rep. Thomas Holbrook
2/23/2007	House	Added Chief Co-Sponsor Rep. Patrick J Verschoore
3/1/2007	House	Third Reading - Short Debate - Passed 114-000-000
3/1/2007	House	Added Co-Sponsor Rep. Joseph M. Lyons
3/1/2007	House	Added Co-Sponsor Rep. Monique D. Davis
3/6/2007	Senate	Arrive in Senate
3/6/2007	Senate	Placed on Calendar Order of First Reading
3/6/2007	Senate	Chief Senate Sponsor Sen. David Koehler
3/6/2007	Senate	First Reading
3/6/2007	Senate	Referred to Rules
3/30/2007	Senate	Assigned to Financial Institutions
4/19/2007	Senate	Added as Alternate Chief Co-Sponsor Sen. Michael Noland
4/20/2007	Senate	Do Pass Financial Institutions; 007-000-000
4/20/2007	Senate	Placed on Calendar Order of 2nd Reading April 24, 2007
5/3/2007	Senate	Second Reading
5/3/2007	Senate	Placed on Calendar Order of 3rd Reading May 8, 2007
5/16/2007	Senate	Third Reading - Passed; 058-000-000
5/16/2007	House	Passed Both Houses
6/14/2007	House	Sent to the Governor
8/13/2007	House	Governor Approved
8/13/2007	House	Effective Date August 13, 2007
8/13/2007	House	Public Act . . . . . . . . . 95-0124

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