97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB3469

 

Introduced 2/24/2011, by Rep. Carol A. Sente - Daniel Biss - Karen May

 

SYNOPSIS AS INTRODUCED:
 
205 ILCS 5/48.8 new

    Amends the Illinois Banking Act. Provides that a banking house, branch, branch bank, or branch office shall report to the Secretary the number of loans made to small businesses. Effective immediately.


LRB097 10841 CEL 51331 b

 

 

A BILL FOR

 

HB3469LRB097 10841 CEL 51331 b

1    AN ACT concerning regulation.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Banking Act is amended by adding
5Section 48.8 as follows:
 
6    (205 ILCS 5/48.8 new)
7    Sec. 48.8. Loan reporting.
8    (a) Beginning on January 1, 2012, a banking house, branch,
9branch bank, or branch office shall report to the Secretary the
10number of loans made to small businesses as defined in the
11Small Business Advisory Act.
12    (b) The Department of Financial and Professional
13Regulation shall adopt rules to implement this Section.
 
14    Section 99. Effective date. This Act takes effect upon
15becoming law.