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SB3113 - 104th General Assembly
CREDIT UNIONS-VARIOUS
Last Action
Statutes Amended In Order of Appearance
205 ILCS 305/20from Ch. 17, par. 4421
205 ILCS 305/29from Ch. 17, par. 4430
205 ILCS 305/57.3 new
205 ILCS 305/57.5 new
205 ILCS 305/59from Ch. 17, par. 4460
Synopsis As Introduced
Amends the Illinois Credit Union Act. Provides that the business office for a credit union's registered agent may, but is not required to, be (instead of shall be) the same as the principal place of business of the credit union. In provisions concerning meetings of directors, sets forth provisions concerning the preparation and approval of meeting minutes. Adds provisions concerning disclosure and due diligence requirements for credit unions when providing digital asset services or contracting with a covered person or digital asset service provider and provisions concerning sales of debt cancellation services and products by a credit union to its members. In provisions concerning the investment of funds not used in loans, provides that the funds may be invested in commercial mortgage related securities and collateralized mortgage obligations to aid in the credit union's management of its assets, liabilities, and liquidity. Effective immediately.
Senate Committee Amendment No. 1
Adds reference to:
205 ILCS 305/15from Ch. 17, par. 4416
205 ILCS 305/26from Ch. 17, par. 4427
205 ILCS 305/30from Ch. 17, par. 4431
Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with the following changes. Makes changes to senior management official and executive officer provisions. In provisions concerning the delegation of duties by the board of directors, provides that the board of directors may delegate to the chief management official the hiring of employees other than the chief management official, including, without limitation, vice presidents and other officers (instead of just the hiring of employees other than the chief management official), and fixing their title, grade, and compensation (instead of just their compensation). Removes provisions concerning a credit union's authority to engage in digital asset business activity and perform custodial services. Provides that, when marketing or advertising digital assets, digital asset business activities conducted by covered persons or service providers (instead of digital asset business activities), and related administrative functions to the members of the credit union, the members shall receive the specified information. Makes changes to compliance requirements in provisions concerning the investment of credit union funds in commercial mortgage related securities and collateralized mortgage obligations. Effective immediately.
Senate Floor Amendment No. 2
Deletes reference to:
205 ILCS 305/57.5 new
Removes provisions concerning sales of debt cancellation services and products.
House Floor Amendment No. 2
Deletes reference to:
205 ILCS 305/15from Ch. 17, par. 4416
205 ILCS 305/20from Ch. 17, par. 4421
205 ILCS 305/26from Ch. 17, par. 4427
205 ILCS 305/29from Ch. 17, par. 4430
205 ILCS 305/30from Ch. 17, par. 4431
205 ILCS 305/57.3 new
205 ILCS 305/59from Ch. 17, par. 4460
Adds reference to:
225 ILCS 725/1from Ch. 96 1/2, par. 5401
225 ILCS 725/6from Ch. 96 1/2, par. 5409
225 ILCS 725/8afrom Ch. 96 1/2, par. 5413
225 ILCS 725/14from Ch. 96 1/2, par. 5420
225 ILCS 725/26from Ch. 96 1/2, par. 5456
Replaces everything after the enacting clause with the following. Amends the Illinois Oil and Gas Act. Defines terms. Provides that the Department of Natural Resources may charge a vacuum permit application fee of up to $300 per permit. Provides that a modification of a notice of violation of the Act may include the assessment of civil penalties not to exceed $4,000 (rather than $1,000) per day for each and every act of violation not including a falsification or misstatement of information. Provides that the specified annually collected temporary abandonment status fees shall be deposited into the Plugging and Restoration Fund, and one-half of all such fees shall be used solely for the Landowner Grant Program (rather than one-half of all such fees shall be deposited into the Plugging and Restoration Fund and one-half of all such fees so deposited shall be used solely for the Landowner Grant Program). Provides that any person who violates any provision of the Act or any valid rule, regulation, permit, or order of the Department, or who repeats or continues the violation shall be subject to a civil penalty not to exceed $2,000 a day for any violation lasting more than 90 days but less than 180 days and $4,000 a day for any violation lasting 180 days or more. Provides that any civil penalties that are assessed in excess of $1,000 per day shall be deposited into the Plugging and Restoration Fund. Provides that civil penalties may not be assessed until notice has been sent to the permittee, and such notice may be sent electronically at the time the notice of violation is sent to the Springfield office of the Department. Provides that a permittee may notify the Department if an extraordinary circumstance prevents abatement of a violation for which civil penalties are sought to be addressed against the permittee. Provides that the assessment of a civil penalty shall not begin until the extraordinary circumstance terminates, as set forth by rule. Provides that the process to declare an extraordinary circumstance, the Department's review and approval of the extraordinary circumstance, and any appeal of the Department's determination shall be set by rule. Makes other changes.
Actions
| Date | Chamber | Action |
|---|---|---|
| 2/02/2026 | Senate | Filed with Secretary by Sen. David Koehler |
| 2/02/2026 | Senate | First Reading |
| 2/02/2026 | Senate | Referred to Assignments |
| 2/10/2026 | Senate | Assigned to Financial Institutions |
| 3/05/2026 | Senate | Senate Committee Amendment No. 1 Filed with Secretary by Sen. David Koehler |
| 3/05/2026 | Senate | Senate Committee Amendment No. 1 Referred to Assignments |
| 3/10/2026 | Senate | Senate Committee Amendment No. 1 Assignments Refers to Financial Institutions |
| 3/11/2026 | Senate | Senate Committee Amendment No. 1 Adopted |
| 3/11/2026 | Senate | Do Pass as Amended Financial Institutions; 006-000-000 |
| 3/11/2026 | Senate | Placed on Calendar Order of 2nd Reading March 12, 2026 |
| 3/24/2026 | Senate | Second Reading |
| 3/24/2026 | Senate | Placed on Calendar Order of 3rd Reading March 25, 2026 |
| 4/01/2026 | Senate | Senate Floor Amendment No. 2 Filed with Secretary by Sen. David Koehler |
| 4/01/2026 | Senate | Senate Floor Amendment No. 2 Referred to Assignments |
| 4/14/2026 | Senate | Senate Floor Amendment No. 2 Assignments Refers to Financial Institutions |
| 4/15/2026 | Senate | Senate Floor Amendment No. 2 Recommend Do Adopt Financial Institutions; 006-000-000 |
| 4/15/2026 | Senate | Recalled to Second Reading |
| 4/15/2026 | Senate | Senate Floor Amendment No. 2 Adopted; Koehler |
| 4/15/2026 | Senate | Placed on Calendar Order of 3rd Reading |
| 4/15/2026 | Senate | Third Reading - Passed; 055-000-000 |
| 4/15/2026 | House | Arrived in House |
| 4/16/2026 | House | Chief House Sponsor Rep. Ryan Spain |
| 4/16/2026 | House | First Reading |
| 4/16/2026 | House | Referred to Rules Committee |
| 4/27/2026 | House | Assigned to Executive Committee |
| 5/07/2026 | House | Committee Deadline Extended-Rule 9(b) May 15, 2026 |
| 5/12/2026 | House | Alternate Chief Sponsor Removed Rep. Ryan Spain |
| 5/12/2026 | House | Chief House Sponsor Rep. Jay Hoffman |
| 5/13/2026 | House | Do Pass / Short Debate Executive Committee; 008-003-000 |
| 5/13/2026 | House | Placed on Calendar 2nd Reading - Short Debate |
| 5/19/2026 | House | Second Reading - Short Debate |
| 5/19/2026 | House | Held on Calendar Order of Second Reading - Short Debate |
| 5/22/2026 | House | Third Reading/Final Action Deadline Extended-9(b) May 31, 2026 |
| 5/26/2026 | House | House Floor Amendment No. 1 Filed with Clerk by Rep. Jay Hoffman |
| 5/26/2026 | House | House Floor Amendment No. 1 Referred to Rules Committee |
| 5/27/2026 | House | House Floor Amendment No. 1 Rules Refers to Energy & Environment Committee |
| 5/28/2026 | House | House Floor Amendment No. 2 Filed with Clerk by Rep. Jay Hoffman |
| 5/28/2026 | House | House Floor Amendment No. 2 Referred to Rules Committee |
| 5/29/2026 | House | House Floor Amendment No. 2 Rules Refers to Energy & Environment Committee |
| 5/29/2026 | House | House Floor Amendment No. 2 Recommends Be Adopted Energy & Environment Committee; 023-002-000 |
| 5/31/2026 | House | House Floor Amendment No. 2 Adopted |
| 5/31/2026 | House | Placed on Calendar Order of 3rd Reading - Short Debate |
| 5/31/2026 | House | Third Reading - Short Debate - Passed 112-002-000 |
| 5/31/2026 | House | House Floor Amendment No. 1 Tabled |
| 5/31/2026 | Senate | Secretary's Desk - Concurrence House Amendment(s) 2 |
| 5/31/2026 | Senate | Placed on Calendar Order of Concurrence House Amendment(s) 2 - May 31, 2026 |
| 5/31/2026 | Senate | House Floor Amendment No. 2 Motion to Concur Filed with Secretary Sen. David Koehler |
| 5/31/2026 | Senate | House Floor Amendment No. 2 Motion to Concur Referred to Assignments |
| 5/31/2026 | Senate | House Floor Amendment No. 2 Motion to Concur Assignments Referred to Executive |
| 5/31/2026 | Senate | House Floor Amendment No. 2 Motion To Concur Recommended Do Adopt Executive; 012-000-000 |
| 5/31/2026 | Senate | House Floor Amendment No. 2 Senate Concurs 050-006-000 |
| 5/31/2026 | Senate | Senate Concurs |
| 5/31/2026 | Senate | Passed Both Houses |