Illinois General Assembly - Bill Status for HB3694
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 Bill Status of HB3694  102nd General Assembly


Short Description:  COMMUNITY REINVESTMENT FUNDS

House Sponsors
Rep. Lamont J. Robinson, Jr.

Last Action
DateChamber Action
  3/27/2021HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
10100SB1608ham002, 101st G.A., Sec. 35-5
10100SB1608ham002, 101st G.A., Sec. 35-40
15 ILCS 520/16.3
30 ILCS 235/8


Synopsis As Introduced
Provides that if and only if Senate Bill 1608 of the 101st General Assembly, as amended by House Amendment No. 2, becomes law, then the Illinois Community Reinvestment Act, the Deposit of State Moneys Act, and the Public Funds Investment Act are amended. Excludes banks organized under the Illinois Banking Act, savings banks organized under the Savings Bank Act, and credit unions organized under the Illinois Credit Union Act from within the meaning of "covered financial institution" under the Illinois Community Reinvestment Act. Provides that when investing or depositing State or public funds, the State Treasurer or a public agency may give preference to financial institutions that are not subject to the federal Community Reinvestment Act of 1977 and are established and doing business as not-for-profit consumer owned financial cooperatives, including credit unions. Makes conforming changes. Effective immediately.

Actions 
DateChamber Action
  2/19/2021HouseFiled with the Clerk by Rep. Lamont J. Robinson, Jr.
  2/22/2021HouseFirst Reading
  2/22/2021HouseReferred to Rules Committee
  3/16/2021HouseAssigned to Executive Committee
  3/27/2021HouseRule 19(a) / Re-referred to Rules Committee

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