WEAVER,S-PHILIP-JONES. (KUBIK-DEERING) 30 ILCS 235/1 from Ch. 85, par. 901 30 ILCS 235/2 from Ch. 85, par. 902 205 ILCS 5/18 from Ch. 17, par. 325 205 ILCS 5/21.2 new 205 ILCS 5/21.3 new 205 ILCS 10/3.071 from Ch. 17, par. 2510.01 205 ILCS 10/3.09 new Amends the Public Funds Investment Act to require that public funds must be invested in banks or savings associations whose main banking premises are located in Illinois. Amends the Illinois Banking Act to prohibit a change in control if the persons seeking control would, after obtaining control, control 30% or more of the deposits located in this State. Provides that no state or national bank whose main banking premises are located in another state may merge into or acquire an Illinois bank that has operated as a bank for 5 years or less. Amends the Illinois Bank Holding Company Act of 1957 to restrict mergers with Illinois banks that have operated for 5 years or less and are controlled by an out of State bank. Prohibits combinations that would result in control of 30% or more of the deposits in Illinois. Effective immediately. SENATE AMENDMENT NO. 1. Deletes reference to: 30 ILCS 235/1 30 ILCS 235/2 Deletes requirment that public funds be invested in banks that have their main banking premises in Illinois. Effective June 1, 1997. FISCAL NOTE, S-AM 1 (Office of Banks & Real Estate) SB 690 amended, would have no fiscal impact on this Dept. 97-02-06 S FIRST READING 97-02-06 S REFERRED TO SENATE RULES COMMITTEE RULES 97-02-19 S ASSIGNED TO COMMITTEE FIN INST 97-03-06 S DO PASS 007-001-000 SFIC 97-03-06 S PLACED ON CALENDAR ORDER OF 2ND READING 97-03-11 97-03-11 S SECOND READING 97-03-11 S PLACED ON CALENDAR ORDER OF 3RD READING 97-03-12 97-03-14 S FILED WITH SECRETARY 97-03-14 S AMENDMENT NO. 01-WEAVER,S 97-03-14 S AMENDMENT REFERRED TO SRUL 97-03-14 S AMENDMENT NO. 01-WEAVER,S 97-03-14 S RULES REFERS TO SFIC 97-03-18 S AMENDMENT NO. 01-WEAVER,S 97-03-18 S BE ADOPTED SFIC/008-000-000 97-03-18 S RECALLED TO SECOND READING 97-03-18 S AMENDMENT NO. 01-WEAVER,S 97-03-18 S ADOPTED 97-03-18 S PLACED ON CALENDAR ORDER OF 3RD READING 97-03-19 97-03-19 S THIRD READING - PASSED 054-000-001 97-03-19 H ARRIVE IN HOUSE 97-03-19 H PLACED CALENDAR ORDER OF FIRST READING 97-03-21 H HOUSE SPONSOR KUBIK 97-03-21 H FIRST READING 97-03-21 H REFERRED TO HOUSE RULES COMMITTEE RULES 97-04-08 H ASSIGNED TO COMMITTEE FIN INSTIT 97-04-30 H DO PASS/SHORT DEBATE 025-000-000 HFIN 97-04-30 H PLACED CALENDAR 2ND READING-SHORT DEBATE 97-05-01 H SECOND READING-SHORT DEBATE 97-05-01 H FISCAL NOTE REQUESTED DEERING 97-05-01 H STATE MANDATES FISCAL NOTE REQUESTED DEERING 97-05-01 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE 97-05-07 H FISCAL NOTE FILED AS AMEND. BY SA 1 97-05-07 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE 97-05-09 H STATE MANDATES FISCAL NOTE REQST-WITHDRN DEERING 97-05-09 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 97-05-09 H ADDED AS A JOINT SPONSOR DEERING 97-05-12 H THIRD READING/SHORT DEBATE/PASSED 113-000-004 97-05-12 S PASSED BOTH HOUSES 97-06-10 S SENT TO THE GOVERNOR 97-07-25 S GOVERNOR APPROVED 97-07-25 S EFFECTIVE DATE 97-07-25 97-07-25 S PUBLIC ACT.............................. 90-0226 END OF INQUIRY Full Text Bill Summary