House Sponsors: SCHOENBERG-LEITCH-TENHOUSE AND HOEFT. Short description: ELECTRONIC FUND RECIPROCITY Synopsis of Bill as introduced: Amends the Electronic Fund Transfer Act. Provides that an entity whose principal place of business is not in Illinois may not process interchange transactions in Illinois unless entities with their principal place of business in Illinois may process interchange transactions in that other state. Provides that the Commissioner of Banks and Trust Companies has the authority to make determinations regarding reciprocity. Does not prohibit or affect arrangements in effect before the effective date of this amendatory Act. Effective immediately. FISCAL NOTE (Dpt. Financial Institutions) There would be no fiscal impact on the Department. STATE MANDATES FISCAL NOTE (DCCA) HB1777 fails to create a State mandate. HOME RULE NOTE HB1777 does not affect units of local gov't. and does not preempt home rule authority. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status