Illinois General Assembly - Bill Status for SB1932

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Bill Status of SB1932 95th General Assembly

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Short Description: TREASURER-FUNDS DEPOSIT/INVEST

Senate Sponsors
Sen. Mattie Hunter - Jacqueline Y. Collins

Last Action

Date	Chamber	Action
1/13/2009	Senate	Session Sine Die

Statutes Amended In Order of Appearance

15 ILCS 520/16.4 new

30 ILCS 235/6.1 new

Synopsis As Introduced
Amends the Deposit of State Moneys Act and the Public Funds Investment Act. Requires applicant financial institutions to submit a linked deposit and public investment plan that demonstrates how it will leverage State deposits and investments to create banking, lending, and investment opportunities within low-income and moderate-income communities, particularly those near its branches, and to disclose any direct, affiliate, or subsidiary relationship with or investment in any sub-prime lending intermediary. Requires the Treasurer to give notice of applications and allow for public comment. Requires a hearing if complaints are documented. Prohibits approval of an application if complaints are substantiated. Requires linked deposit agreements and evaluations of financial institutions to be posted on the Treasurer's website.

Actions

Date	Chamber	Action
1/16/2008	Senate	Filed with Secretary by Sen. Mattie Hunter
1/16/2008	Senate	First Reading
1/16/2008	Senate	Referred to Rules
1/25/2008	Senate	Added as Chief Co-Sponsor Sen. Jacqueline Y. Collins
1/13/2009	Senate	Session Sine Die

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