Illinois General Assembly - Bill Status for HB5052
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 Bill Status of HB5052  102nd General Assembly


Short Description:  STATE TREASURER-LOAN GUARANTEE

House Sponsors
Rep. Sonya M. Harper, Justin Slaughter, Lakesia Collins, Cyril Nichols and Jehan Gordon-Booth

Senate Sponsors
(Sen. Christopher Belt)

Last Action
DateChamber Action
  11/16/2022SenatePlaced on Calendar Order of 3rd Reading November 29, 2022

Statutes Amended In Order of Appearance
15 ILCS 516/30-10
15 ILCS 516/30-15
15 ILCS 516/30-25
15 ILCS 516/30-30


Synopsis As Introduced
Amends the Community Development Loan Guarantee Act. Provides that the State Treasurer may establish the Loan Guarantee Program by establishing one or more Loan Guarantee Accounts at approved financial institutions (currently, one Account as a special account outside the State treasury with the State Treasurer as custodian). Provides that moneys in a Loan Guarantee Account may be paid to a participating financial institution to cover losses on guaranteed loans up to the full amount in the Account or the amount of loss, whichever is lesser. Provides that the State of Illinois and the State Treasurer shall not be responsible for any losses in excess of the full amount in the Loan Guarantee Account designated for a participating financial institution. Provides that the State Treasurer may withdraw funds from any Loan Guarantee Account for a financial institution's failure to comply with Program requirements. Makes conforming and other changes. Effective immediately.

Actions 
DateChamber Action
  1/26/2022HouseFiled with the Clerk by Rep. Sonya M. Harper
  1/27/2022HouseFirst Reading
  1/27/2022HouseReferred to Rules Committee
  2/9/2022HouseAssigned to Financial Institutions Committee
  2/15/2022HouseDo Pass / Short Debate Financial Institutions Committee; 007-003-000
  2/16/2022HousePlaced on Calendar 2nd Reading - Short Debate
  2/22/2022HouseSecond Reading - Short Debate
  2/22/2022HousePlaced on Calendar Order of 3rd Reading - Short Debate
  2/23/2022HouseAdded Co-Sponsor Rep. Justin Slaughter
  2/23/2022HouseAdded Co-Sponsor Rep. Lakesia Collins
  2/23/2022HouseAdded Co-Sponsor Rep. Cyril Nichols
  3/1/2022HouseThird Reading - Short Debate - Passed 072-036-000
  3/2/2022HouseAdded Co-Sponsor Rep. Jehan Gordon-Booth
  3/2/2022SenateArrive in Senate
  3/2/2022SenatePlaced on Calendar Order of First Reading
  3/2/2022SenateChief Senate Sponsor Sen. Christopher Belt
  3/2/2022SenateFirst Reading
  3/2/2022SenateReferred to Assignments
  4/7/2022SenateApproved for Consideration Assignments
  4/7/2022SenatePlaced on Calendar Order of 2nd Reading
  4/7/2022SenateRule 2-10 Third Reading Deadline Established As April 8, 2022
  4/7/2022SenateSecond Reading
  4/7/2022SenatePlaced on Calendar Order of 3rd Reading April 8, 2022
  5/10/2022SenatePursuant to Senate Rule 3-9(b) / Referred to Assignments
  11/16/2022SenateApproved for Consideration Assignments
  11/16/2022SenatePlaced on Calendar Order of 3rd Reading November 29, 2022

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