Illinois General Assembly - Bill Status for HB5194
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 Bill Status of HB5194  102nd General Assembly


Short Description:  BANKING DEVELOP DISTRICT ACT

House Sponsors
Rep. La Shawn K. Ford - Mark L. Walker - LaToya Greenwood, Dagmara Avelar and Maura Hirschauer

Senate Sponsors
(Sen. Doris Turner - Mike Simmons and Mattie Hunter)

Last Action
DateChamber Action
  5/13/2022HousePublic Act . . . . . . . . . 102-0802

Statutes Amended In Order of Appearance
New Act


Synopsis As Introduced
Creates the Banking Development District Act. Establishes a banking development district program. Provides that the Department of Financial and Professional Regulation shall, in consultation with the State Treasurer, adopt rules that set forth the criteria, including specified factors, for the establishment of banking development districts. Provides that the governing board of a local government, in conjunction with a depository institution, may submit an application to the Department for the designation of a banking development district. Provides that the boundaries of the proposed banking development district shall include property on which the depository institution plans to make improvements to establish a banking branch. Provides that the application shall include the legal description of the property to be designated. Provides that the Secretary of Financial and Professional Regulation shall, in consultation with the State Treasurer, issue a determination on an application within 60 days after receiving the application. Provides that if an application is approved, the Department shall transmit notification of the approval and a copy of all application materials to the applicants, the Governor, the State Comptroller, the State Treasurer, the Director of Commerce and Economic Opportunity, the President of the Senate, the Speaker of the House of Representatives, and the clerk of the county, the municipal clerk, or the equivalent official in which the property is located. Provides that the Department may adopt rules that define terms, rules that establish fees for applications or other services rendered by the Department, and rules necessary for the enforcement, interpretation, and implementation of the Act. Makes other changes. Effective January 1, 2023.

House Floor Amendment No. 1
Provides that if an application for a banking development district is approved, the Department of Financial and Professional Regulation shall transmit notification of the approval and a copy of all application materials to the Minority Leader of the Senate and the Minority Leader of the House of Representatives in addition to other specified individuals.

Actions 
DateChamber Action
  1/27/2022HouseFiled with the Clerk by Rep. La Shawn K. Ford
  1/31/2022HouseFirst Reading
  1/31/2022HouseReferred to Rules Committee
  2/9/2022HouseAssigned to Financial Institutions Committee
  2/15/2022HouseDo Pass / Short Debate Financial Institutions Committee; 010-000-000
  2/16/2022HousePlaced on Calendar 2nd Reading - Short Debate
  2/17/2022HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. La Shawn K. Ford
  2/17/2022HouseHouse Floor Amendment No. 1 Referred to Rules Committee
  2/22/2022HouseHouse Floor Amendment No. 1 Rules Refers to Financial Institutions Committee
  2/22/2022HouseHouse Floor Amendment No. 1 Recommends Be Adopted Financial Institutions Committee; 008-000-000
  3/2/2022HouseSecond Reading - Short Debate
  3/2/2022HouseHeld on Calendar Order of Second Reading - Short Debate
  3/4/2022HouseHouse Floor Amendment No. 1 Adopted
  3/4/2022HousePlaced on Calendar Order of 3rd Reading - Short Debate
  3/4/2022HouseThird Reading - Short Debate - Passed 102-000-000
  3/4/2022HouseAdded Chief Co-Sponsor Rep. Mark L. Walker
  3/4/2022HouseAdded Chief Co-Sponsor Rep. LaToya Greenwood
  3/4/2022HouseAdded Co-Sponsor Rep. Dagmara Avelar
  3/4/2022HouseAdded Co-Sponsor Rep. Maura Hirschauer
  3/7/2022SenateArrive in Senate
  3/7/2022SenatePlaced on Calendar Order of First Reading
  3/7/2022SenateChief Senate Sponsor Sen. Doris Turner
  3/7/2022SenateFirst Reading
  3/7/2022SenateReferred to Assignments
  3/16/2022SenateAssigned to Financial Institutions
  3/23/2022SenatePostponed - Financial Institutions
  3/25/2022SenateRule 2-10 Committee Deadline Established As April 4, 2022
  3/29/2022SenateWaive Posting Notice
  3/30/2022SenateAdded as Alternate Chief Co-Sponsor Sen. Mike Simmons
  3/30/2022SenateDo Pass Financial Institutions; 007-000-000
  3/30/2022SenatePlaced on Calendar Order of 2nd Reading
  3/31/2022SenateSecond Reading
  3/31/2022SenatePlaced on Calendar Order of 3rd Reading April 1, 2022
  4/1/2022SenateThird Reading - Passed; 050-000-000
  4/1/2022HousePassed Both Houses
  4/1/2022SenateAdded as Alternate Co-Sponsor Sen. Mattie Hunter
  4/28/2022HouseSent to the Governor
  5/13/2022HouseGovernor Approved
  5/13/2022HouseEffective Date January 1, 2023
  5/13/2022HousePublic Act . . . . . . . . . 102-0802

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