99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
HB3840

 

Introduced , by Rep. Elgie R. Sims, Jr.

 

SYNOPSIS AS INTRODUCED:
 
New Act

    Creates the Residential and Economic Redlining Task Force Act. Creates the Residential and Economic Redlining Task Force. Provides that the task force shall (1) prepare a report evaluating the current State laws and rules designed to curb residential and economic redlining, and (2) provide recommendations to the General Assembly as to whether further legislation is needed to address the problems of residential and economic redlining in this State. Contains a repealer provision.


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FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

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1    AN ACT concerning regulation.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 1. Short title. This Act may be cited as the
5Residential and Economic Redlining Task Force Act.
 
6    Section 5. Residential and Economic Redlining Task Force
7Act.
8    (a) There is hereby created the Residential and Economic
9Redlining Task Force Act.
10    (b) The task force shall consist of the following members:
11        (1) Four members of the General Assembly, appointed one
12    each by the President of the Senate, the Minority Leader of
13    the Senate, the Speaker of the House of Representatives,
14    and the Minority Leader of the House of Representatives;
15        (2) The Governor, or his or her designee;
16        (3) The Secretary of Financial and Professional
17    Regulation, or his or her designee;
18        (4) The Secretary of Human Services, or his or her
19    designee;
20        (5) The Attorney General of the State of Illinois, or
21    his or her designee; and
22        (6) Two members from entities representing the
23    interests of the retail and banking industries in this

 

 

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1    State appointed by the Governor.
2    (c) The Secretary of Financial and Professional
3Regulation, or his or her designee, shall serve as chairperson
4of the task force, and the Department of Financial and
5Professional Regulation shall provide technical support and
6assistance to the task force and shall be responsible for
7administering its operations and ensuring that the
8requirements of this Act are met.
9    (d) The task force may consult with any persons or entities
10it deems necessary to carry out its purposes.
11    (e) Members of the task force shall be appointed no later
12than 90 days after the effective date of this Act. The members
13of the task force shall receive no compensation for serving as
14members of the task force.
15    (f) The task force shall (1) prepare a report evaluating
16the current State laws and rules designed to curb residential
17and economic redlining, and (2) provide recommendations to the
18General Assembly as to whether further legislation is needed to
19address the problems of residential and economic redlining in
20this State.
21    (g) The task force shall submit its report and
22recommendations to the General Assembly on or before January 1,
232017.
 
24    Section 10. Expiration. This Act is repealed on January 1,
252018.