Illinois General Assembly - Bill Status for HB1516
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 Bill Status of HB1516  93rd General Assembly

Short Description:  CREDIT UNIONS BOARD POWERS

House Sponsors
Rep. Joseph M. Lyons - Bill Mitchell - Thomas Holbrook

Senate Sponsors
(Sen. Kimberly A. Lightford - Mattie Hunter)

Last Action
DateChamber Action
  12/31/2003HousePublic Act . . . . . . . . . 93-0640

Statutes Amended In Order of Appearance
205 ILCS 305/12from Ch. 17, par. 4413
205 ILCS 305/15from Ch. 17, par. 4416
205 ILCS 305/40from Ch. 17, par. 4441
205 ILCS 305/46from Ch. 17, par. 4447
205 ILCS 305/51from Ch. 17, par. 4452
205 ILCS 305/59from Ch. 17, par. 4460


Synopsis As Introduced
Amends the Illinois Credit Union Act. Provides for credit union fees to be paid to the Department of Financial Institutions by July 1 rather than March 1. Authorizes credit unions to expel members who violate board policy. Authorizes credit unions to make payments upon the order of a minor. Provides that compliance by a credit union with laws or regulations that preempt the Illinois Credit Union Act constitutes compliance with that Act. Authorizes credit unions to make loans to credit union organizations in an amount not greater than 3%, rather than 1%, of paid-in and unimpaired capital. Effective immediately.

House Committee Amendment No. 1
Provides that compliance with federal or Illinois preemptive laws or regulations that govern loans made by a credit union chartered under the Illinois Credit Union Act constitutes compliance with that Act.

Governor Amendatory Veto Message
Recommends that the provision of the bill that changes the date from March 1st to July 1st by which credit union regulatory fees for a calendar year must be paid to the Department of Financial Institutions be deleted from the bill.

Actions 
DateChamber Action
  2/6/2003HouseFiled with the Clerk by Rep. Joseph M. Lyons
  2/6/2003HouseChief Co-Sponsor Rep. Bill Mitchell
  2/6/2003HouseFirst Reading
  2/6/2003HouseReferred to Rules Committee
  2/11/2003HouseAssigned to Financial Institutions Committee
  3/5/2003HouseHouse Committee Amendment No. 1 Filed with Clerk by Financial Institutions Committee
  3/5/2003HouseHouse Committee Amendment No. 1 Adopted in Financial Institutions Committee; by Voice Vote
  3/5/2003HouseDo Pass as Amended / Short Debate Financial Institutions Committee; 013-000-000
  3/5/2003HousePlaced on Calendar 2nd Reading - Short Debate
  3/5/2003HouseAdded Chief Co-Sponsor Rep. Thomas Holbrook
  3/18/2003HouseSecond Reading - Short Debate
  3/18/2003HousePlaced on Calendar Order of 3rd Reading - Short Debate
  3/19/2003HouseThird Reading - Short Debate - Passed 113-000-001
  3/19/2003SenateArrive in Senate
  3/19/2003SenatePlaced on Calendar Order of First Reading March 20, 2003
  3/19/2003SenateChief Senate Sponsor Sen. Kimberly A. Lightford
  3/20/2003SenateFirst Reading
  3/20/2003SenateReferred to Rules
  4/3/2003SenateAssigned to Financial Institutions
  4/10/2003SenatePostponed - Financial Institutions
  5/1/2003SenateDo Pass Financial Institutions; 009-000-000
  5/1/2003SenatePlaced on Calendar Order of 2nd Reading May 6, 2003
  5/8/2003SenateSecond Reading
  5/8/2003SenatePlaced on Calendar Order of 3rd Reading May 9, 2003
  5/8/2003SenateAdded as Alternate Chief Co-Sponsor Sen. Mattie Hunter
  5/9/2003SenateThird Reading - Passed; 056-000-000
  5/9/2003HousePassed Both Houses
  5/23/2003HouseSent to the Governor
  7/17/2003HouseGovernor Amendatory Veto
  10/23/2003HousePlaced on Calendar Amendatory Veto November 4, 2003
  10/28/2003HouseAmendatory Veto Motion - Motion Filed Accept Amendatory Veto Rep. Joseph M. Lyons
  10/28/2003HouseAmendatory Veto Motion - Motion Referred to Rules Committee
  11/4/2003HouseAmendatory Veto Motion - Accept Motion Recommends Be Adopted Rules Committee; 005-000-000
  11/4/2003HouseAccept Amendatory Veto - House Passed 086-029-002
  11/6/2003SenatePlaced on Calendar Amendatory Veto November 18, 2003
  11/6/2003SenateAmendatory Veto Motion - Motion Filed Accept Amendatory Veto Sen. Kimberly A. Lightford
  11/6/2003SenateAmendatory Veto Motion - Motion Referred to Rules
  11/18/2003SenateAmendatory Veto Motion - Approved for Consideration Rules
  11/19/2003SenateAccept Amendatory Veto - Senate Passed 056-000-001
  11/19/2003HouseBoth Houses Accepted Amendatory Veto
  12/18/2003HouseReturned to Governor for Certification
  12/31/2003HouseGovernor Certifies Changes
  12/31/2003HouseEffective Date December 31, 2003
  12/31/2003HousePublic Act . . . . . . . . . 93-0640

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