Sen. Robert Peters
Filed: 3/25/2021
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| 1 | AMENDMENT TO SENATE BILL 653
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| 2 | AMENDMENT NO. ______. Amend Senate Bill 653 as follows:
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| 3 | on page 4, by replacing lines 17 through 25 with the following: | ||||||
| 4 | "For purposes of this Act, the term "financial | ||||||
| 5 | institution" "bank" or "savings and loan association" shall be | ||||||
| 6 | deemed to include a bank, a savings and loan association, a | ||||||
| 7 | savings bank, a credit union, a minority depository | ||||||
| 8 | institution as designated by the Federal Deposit Insurance | ||||||
| 9 | Corporation, or a community development financial institution | ||||||
| 10 | certified by the United States Treasury Community Development | ||||||
| 11 | Financial Institutions Fund, which is operating in the State | ||||||
| 12 | of Illinois a credit union, and, unless otherwise specifically | ||||||
| 13 | set forth in this Act, credit unions shall be subject to all | ||||||
| 14 | rights,"; and | ||||||
| 15 | on page 31, by replacing line 24 with "acceptable under | ||||||
| 16 | Sections 11 and 11.1."; and
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| 1 | on page 33, by deleting line 12; and
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| 2 | on page 33, by replacing line 16 with "repealing Sections 1.2, | ||||||
| 3 | 3, 4, 5, 6, 13, and 16."; and
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| 4 | on page 34, by replacing line 14 with "Sections 11 and 11.1 of | ||||||
| 5 | the Deposit of State Moneys Act"; and
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| 6 | on page 34, by replacing lines 15 and 16 with: | ||||||
| 7 | "(15 ILCS 520/11 and 11.1) or Section 6 of the Public Funds
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| 8 | Investment Act (30 ILCS 235/6). Such treasurer or other".
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