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| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB3469 Introduced 2/24/2011, by Rep. Carol A. Sente - Daniel Biss - Karen May SYNOPSIS AS INTRODUCED:
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Amends the Illinois Banking Act. Provides that a banking house, branch, branch bank, or branch office shall report to the Secretary the number of loans made to small businesses. Effective immediately.
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| | A BILL FOR |
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| | HB3469 | | LRB097 10841 CEL 51331 b |
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| 1 | | AN ACT concerning regulation.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Illinois Banking Act is amended by adding |
| 5 | | Section 48.8 as follows:
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| 6 | | (205 ILCS 5/48.8 new) |
| 7 | | Sec. 48.8. Loan reporting. |
| 8 | | (a) Beginning on January 1, 2012, a banking house, branch, |
| 9 | | branch bank, or branch office shall report to the Secretary the |
| 10 | | number of loans made to small businesses as defined in the |
| 11 | | Small Business Advisory Act. |
| 12 | | (b) The Department of Financial and Professional |
| 13 | | Regulation shall adopt rules to implement this Section.
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| 14 | | Section 99. Effective date. This Act takes effect upon |
| 15 | | becoming law.
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