LYONS,JOSEPH-DAVIS,STEVE-DURKIN-MAUTINO-SAVIANO AND DELGADO. (WALSH,T) 205 ILCS 305/1.1 from Ch. 17, par. 4402 205 ILCS 305/10 from Ch. 17, par. 4411 205 ILCS 305/12 from Ch. 17, par. 4413 205 ILCS 305/51 from Ch. 17, par. 4452 205 ILCS 305/59 from Ch. 17, par. 4460 Amends the Illinois Credit Union Act. Provides that income on money in the Credit Union Fund shall be deposited into that Fund. Authorizes credit unions to enter into loan participations with credit union organizations. Limits certain investments by credit unions. Provides that regulatory fees shall be paid on a current year basis rather than for the preceding year. Provides that when receipts collected by the Department under the Act exceed 150%, rather than 100%, of the Department's administrative and operational expenses for the year, the excess shall be credited against credit union fees for the subsequent year. Authorizes the Director of Financial Institutions to establish fees that credit unions may charge when responding to a subpoena. Effective immediately. HOUSE AMENDMENT NO. 1. Deletes reference to: 205 ILCS 305/1.1 Adds reference to: 205 ILCS 305/70 from Ch. 17, par. 4471 Replaces everything after the enacting clause. Amends the Illinois Credit Union Act. Provides that income on money in the Credit Union Fund shall be deposited into that Fund. Authorizes credit unions to enter into loan participations with credit union organizations. Limits certain investments by credit unions. Provides that regulatory fees shall be paid on a current year basis rather than for the preceding year. Provides that when receipts collected by the Department under the Act exceed 150%, rather than 100%, of the Department's administrative and operational expenses for the year, the excess shall be credited against credit union fees for the subsequent year. Authorizes the Director of Financial Institutions to establish fees that credit unions may charge when responding to a subpoena. Authorizes credit unions to disclose customer information in connection with services or products made available by the credit union and in connection with the sale of the credit union or its assets. Effective immediately. HOUSE AMENDMENT NO. 2. Removes authority of credit unions to participate in loans with credit union organizations. Provides that a credit union may only originate loans to its own members. Removes grant of additional authority of a credit union to purchase and sell loans. FEB-27-2001 H FILED WITH CLERK FEB-27-2001 H FIRST READING FEB-27-2001 H REFERRED TO HOUSE RULES COMMITTEE RULES FEB-28-2001 H ASSIGNED TO COMMITTEE FIN INSTIT MAR-07-2001 H AMENDMENT NO. 01-FIN INSTIT H MAR-07-2001 H ADOPTED MAR-07-2001 H DO PASS AMENDED/SHORT DEBATE 018-000-000 HFIN MAR-07-2001 H PLACED CALENDAR 2ND READING-SHORT DEBATE MAR-14-2001 H ADDED AS A JOINT SPONSOR DAVIS,STEVE MAR-14-2001 H ADDED AS A JOINT SPONSOR DURKIN MAR-14-2001 H ADDED AS A JOINT SPONSOR MAUTINO MAR-14-2001 H ADDED AS A JOINT SPONSOR SAVIANO MAR-20-2001 H ADDED AS A CO-SPONSOR DELGADO MAR-26-2001 H AMENDMENT NO. 02-LYONS,JOSEPH MAR-26-2001 H AMENDMENT REFERRED TO HRUL MAR-26-2001 H CALENDAR ORDER 2ND READING-SHORT DEBATE MAR-30-2001 H AMENDMENT NO. 02-LYONS,JOSEPH MAR-30-2001 H RULES REFERS TO HFIN MAR-30-2001 H CALENDAR ORDER 2ND READING-SHORT DEBATE APR-03-2001 H AMENDMENT NO. 02-LYONS,JOSEPH APR-03-2001 H RECOMMENDS BE ADOPTED HFIN/017-000-000 APR-03-2001 H SECOND READING-SHORT DEBATE APR-03-2001 H AMENDMENT NO. 02-LYONS,JOSEPH APR-03-2001 H ADOPTED APR-03-2001 H PLCD CAL ORDER 3RD READING-SHORT DEBATE APR-05-2001 H THIRD READING/SHORT DEBATE/PASSED 116-000-000 APR-05-2001 S ARRIVE IN SENATE APR-05-2001 S PLACED CALENDAR ORDER OF FIRST READING 01-04-06 APR-10-2001 S CHIEF SPONSOR WALSH,T APR-17-2001 S FIRST READING APR-17-2001 S REFERRED TO SENATE RULES COMMITTEE RULES MAY-02-2001 S ASSIGNED TO COMMITTEE FIN INST MAY-10-2001 S DO PASS 005-000-000 SFIC MAY-10-2001 S PLACED ON CALENDAR ORDER OF 2ND READING 01-05-11 MAY-16-2001 S SECOND READING MAY-16-2001 S PLACED ON CALENDAR ORDER OF 3RD READING 01-05-17 MAY-17-2001 S THIRD READING - PASSED 056-000-000 MAY-17-2001 H PASSED BOTH HOUSES JUN-14-2001 H SENT TO THE GOVERNOR AUG-09-2001 H GOVERNOR APPROVED AUG-09-2001 H EFFECTIVE DATE 01-08-09 AUG-09-2001 H PUBLIC ACT.............................. 92-0293 END OF INQUIRY Full Text Bill Summary