Illinois General Assembly - Bill Status for HB1700
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 Bill Status of HB1700  104th General Assembly

Short Description:  FUNDS-COMMUNITY REINVESTMENT

House Sponsors
Rep. Kimberly Du Buclet - Sonya M. Harper - Camille Y. Lilly, Debbie Meyers-Martin, Suzanne M. Ness, William "Will" Davis, Justin Slaughter, Michael Crawford, Lisa Davis and Emanuel "Chris" Welch

Last Action
DateChamber Action
  3/18/2025HousePlaced on Calendar Order of 3rd Reading - Short Debate

Statutes Amended In Order of Appearance
15 ILCS 520/16.1from Ch. 130, par. 35.1
15 ILCS 520/16.3
30 ILCS 235/8


Synopsis As Introduced
Amends the Deposit of State Moneys Act and the Public Funds Investment Act. Provides that the State Treasurer or any public agency may consider the current and historical ratings that a financial institution has received under the Illinois Community Reinvestment Act when deciding whether to deposit State or public funds in that financial institution. Provides that, effective January 1, 2026, no State or public funds may be deposited in a financial institution subject to the Illinois Community Reinvestment Act unless either (i) the institution has a current rating of satisfactory or outstanding under the Illinois Community Reinvestment Act or (ii) the Department of Financial and Professional Regulation has not yet completed its initial examination of the institution pursuant to the Illinois Community Reinvestment Act. Makes conforming changes. Effective January 1, 2026.

House Committee Amendment No. 1
Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with the following changes. Provides that State and public funds that have been deposited may not be withdrawn from a financial institution prior to the date of maturity solely on the basis of a less than satisfactory rating under the Illinois Community Reinvestment Act. Makes other changes. Effective January 1, 2026.

Actions 
DateChamber Action
  1/24/2025HouseFiled with the Clerk by Rep. Kimberly Du Buclet
  1/28/2025HouseFirst Reading
  1/28/2025HouseReferred to Rules Committee
  2/18/2025HouseAssigned to Financial Institutions and Licensing Committee
  2/24/2025HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Kimberly Du Buclet
  2/24/2025HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  2/25/2025HouseHouse Committee Amendment No. 1 Rules Refers to Financial Institutions and Licensing Committee
  2/27/2025HouseAdded Co-Sponsor Rep. Debbie Meyers-Martin
  2/27/2025HouseAdded Co-Sponsor Rep. Suzanne M. Ness
  2/27/2025HouseAdded Chief Co-Sponsor Rep. Sonya M. Harper
  2/27/2025HouseAdded Chief Co-Sponsor Rep. Camille Y. Lilly
  2/27/2025HouseAdded Co-Sponsor Rep. William "Will" Davis
  2/27/2025HouseAdded Co-Sponsor Rep. Justin Slaughter
  3/4/2025HouseAdded Co-Sponsor Rep. Michael Crawford
  3/4/2025HouseHouse Committee Amendment No. 1 Adopted in Financial Institutions and Licensing Committee; by Voice Vote
  3/4/2025HouseDo Pass as Amended / Short Debate Financial Institutions and Licensing Committee; 009-002-000
  3/5/2025HousePlaced on Calendar 2nd Reading - Short Debate
  3/6/2025HouseAdded Co-Sponsor Rep. Lisa Davis
  3/18/2025HouseSecond Reading - Short Debate
  3/18/2025HousePlaced on Calendar Order of 3rd Reading - Short Debate
  3/18/2025HouseAdded Co-Sponsor Rep. Emanuel "Chris" Welch

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