Date	Chamber	Action
8/7/2009	House	Public Act . . . . . . . . . 96-0141

Statutes Amended In Order of Appearance

205 ILCS 305/34

from Ch. 17, par. 4435

205 ILCS 305/42

from Ch. 17, par. 4443

205 ILCS 305/42.5 new

205 ILCS 305/46

from Ch. 17, par. 4447

Synopsis As Introduced
Amends the Illinois Credit Union Act. Provides that in determining the appropriate balance in the allowance for loan losses account, a credit union may determine its historical loss rate using a defined period of time of less than 5 years, provided that specified criteria are met. Provides that shares issued in trust may serve as the subscription to a share required under specified provisions for a trustee having the same social security number as the grantor. Contains provisions concerning marketing of services by a credit union. Provides that credit unions may make residential real estate mortgage loans on terms and conditions established by the United States Department of Agriculture through its Rural Development Housing and Community Facilities Program and that the portion of any loan in excess of the appraised value of the real estate shall be allocable only to the guarantee fee required under the program. Imposes conditions on any rulemaking authority. Effective immediately.

House Committee Amendment No. 1

	Deletes reference to:
	205 ILCS 305/42	from Ch. 17, par. 4443

Deletes language that provides that shares issued in trust may serve as the subscription to a share required under specified provisions for a trustee having the same social security number as the grantor. Deletes language that imposes conditions on any rulemaking authority.

Actions 

Date	Chamber	Action
1/26/2009	House	Filed with the Clerk by Rep. Thomas Holbrook
1/27/2009	House	First Reading
1/27/2009	House	Referred to Rules Committee
2/11/2009	House	Assigned to Financial Institutions Committee
2/18/2009	House	House Committee Amendment No. 1 Filed with Clerk by Financial Institutions Committee
2/18/2009	House	House Committee Amendment No. 1 Adopted in Financial Institutions Committee; by Voice Vote
2/18/2009	House	Do Pass as Amended / Short Debate Financial Institutions Committee; 019-000-000
2/19/2009	House	Placed on Calendar 2nd Reading - Short Debate
2/19/2009	House	Added Chief Co-Sponsor Rep. Bill Mitchell
2/19/2009	House	Added Chief Co-Sponsor Rep. Michael K. Smith
2/19/2009	House	Added Chief Co-Sponsor Rep. Patrick J. Verschoore
2/19/2009	House	Added Chief Co-Sponsor Rep. Daniel V. Beiser
2/24/2009	House	Second Reading - Short Debate
2/24/2009	House	Placed on Calendar Order of 3rd Reading - Short Debate
3/3/2009	House	Added Co-Sponsor Rep. Lisa M. Dugan
3/3/2009	House	Third Reading - Short Debate - Passed 070-034-000
3/4/2009	Senate	Arrive in Senate
3/4/2009	Senate	Placed on Calendar Order of First Reading March 5, 2009
3/5/2009	Senate	Chief Senate Sponsor Sen. William R. Haine
3/6/2009	Senate	First Reading
3/6/2009	Senate	Referred to Assignments
4/22/2009	Senate	Assigned to Financial Institutions
4/30/2009	Senate	Do Pass Financial Institutions; 011-000-000
4/30/2009	Senate	Placed on Calendar Order of 2nd Reading May 5, 2009
4/30/2009	Senate	Added as Alternate Chief Co-Sponsor Sen. David Koehler
5/7/2009	Senate	Second Reading
5/7/2009	Senate	Placed on Calendar Order of 3rd Reading May 12, 2009
5/13/2009	Senate	Added as Alternate Co-Sponsor Sen. Bill Brady
5/13/2009	Senate	Third Reading - Passed; 056-000-001
5/13/2009	House	Passed Both Houses
6/11/2009	House	Sent to the Governor
8/7/2009	House	Governor Approved
8/7/2009	House	Effective Date August 7, 2009
8/7/2009	House	Public Act . . . . . . . . . 96-0141

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