Rep. Jehan A. Gordon
Filed: 3/15/2011
 
 

 

 

 
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1
AMENDMENT TO HOUSE BILL 3469 




2    AMENDMENT NO. ______. Amend House Bill 3469 by replacing 
3everything after the enacting clause with the following:


 
 
4    "Section 5. The Illinois Banking Act is amended  by adding 
5Section 48.8 as follows:
 
6    (205 ILCS 5/48.8 new)
7    Sec. 48.8. Loan reporting.
8    (a) Beginning on January 1, 2012, a banking house, branch, 
9branch bank, or branch office shall annually report to the 
10Secretary the number and value  of loans made to small 
11businesses as defined in the Small Business Advisory Act.
12    (b) The Department of Financial and Professional 
13Regulation shall adopt rules to implement this Section. The 
14rules shall minimize the administrative burden on banks by 
15considering the data previously disclosed to State and federal 
16regulators related to small business lending. 
 
 
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1    (c) The Department shall publish the reports on its 
2website. 
 
 
3    Section 99. Effective date. This Act takes effect upon 
4becoming law.".