Illinois General Assembly - Bill Status for HB5300

Synopsis As Introduced
Amends the Public Funds Deposit Act. Provides that a depository institution that intends to close, relocate, or consolidate a branch location that impacts a low-income, moderate-income, or economically depressed urban or rural community must comply with certain advance notice and hearing requirements. Provides for the State Treasurer to hold a public hearing and determine whether it is in the best interests of the State to allow the closing, relocation, or consolidation. If the institution does not abide with a determination by the State Treasurer adverse to the institution's intent, then it may not receive or retain deposits of public funds. Effective immediately.

Actions

Date	Chamber	Action
2/8/2012	House	Filed with the Clerk by Rep. La Shawn K. Ford
2/8/2012	House	First Reading
2/8/2012	House	Referred to Rules Committee
1/8/2013	House	Session Sine Die

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