BANKING-CANNABIS BUSINESSES

Amends the Illinois Banking Act and the Illinois Credit Union Act. Provides that the Secretary of Financial and Professional Regulation shall not: issue an order against a financial institution for unsafe or unsound banking practices solely because the entity provides financial services to a cannabis-related legitimate business; prohibit, penalize, or otherwise discourage a financial institution from providing financial services to a cannabis-related legitimate business solely because the entity provides financial services to a cannabis-related legitimate business; recommend, incentivize, or encourage a financial institution not to offer financial services to an account holder or to downgrade or cancel the financial services offered to an account holder solely because the account holder is a manufacturer or producer or is the owner, operator, or employee of a cannabis-related legitimate business, the account holder later becomes an owner or operator of a cannabis-related legitimate business, or the financial institution was not aware that the account holder is the owner or operator of a cannabis-related legitimate business; and take any adverse or corrective supervisory action on a loan made to an owner or operator of a cannabis-related legitimate business solely because the owner or operator owns or operates a cannabis-related legitimate business or an owner or operator of real estate or equipment that is leased to a cannabis-related legitimate business solely because the owner or operator of the real estate or equipment leased the equipment or real estate to a cannabis-related legitimate business. Authorizes the Secretary to furnish confidential supervisory information relating to a financial institution providing financial services to cannabis-related businesses, limited to the name, contact information, and such other information as the Secretary determines is prudent, to the Illinois State Treasurer. Effective immediately. Senate Committee Amendment No. 1 Deletes reference to: 205 ILCS 5/48.3 205 ILCS 305/9.1 Deletes provisions authorizing the Secretary of Financial and Professional Regulation to furnish to the State Treasurer confidential supervisory information concerning financial institutions that provide financial services to cannabis-related businesses. House Floor Amendment No. 1 Deletes reference to: 205 ILCS 5/48 205 ILCS 305/8 Adds reference to: 30 ILCS 500/1-10 35 ILCS 5/201 from Ch. 120, par. 2-201 35 ILCS 105/3-10 35 ILCS 110/3-10 from Ch. 120, par. 439.33-10 35 ILCS 115/3-10 from Ch. 120, par. 439.103-10 35 ILCS 120/2-10 105 ILCS 5/22-33 225 ILCS 60/22 from Ch. 111, par. 4400-22 225 ILCS 65/70-5 was 225 ILCS 65/10-45 225 ILCS 95/21 from Ch. 111, par. 4621 410 ILCS 130/1 410 ILCS 130/7 410 ILCS 130/10 410 ILCS 130/25 410 ILCS 130/30 410 ILCS 130/35 410 ILCS 130/36 410 ILCS 130/40 410 ILCS 130/45 410 ILCS 130/55 410 ILCS 130/57 410 ILCS 130/60 410 ILCS 130/62 410 ILCS 130/75 410 ILCS 130/105 410 ILCS 130/115 410 ILCS 130/130 410 ILCS 130/145 410 ILCS 130/160 410 ILCS 130/173 new 410 ILCS 130/195 410 ILCS 130/200 410 ILCS 130/135 rep. 410 ILCS 130/220 rep. 625 ILCS 5/2-118.2 625 ILCS 5/6-206.1 from Ch. 95 1/2, par. 6-206.1 625 ILCS 5/11-501 from Ch. 95 1/2, par. 11-501 625 ILCS 5/11-501.9 720 ILCS 550/5.3 Replaces everything after the enacting clause. Amends the Nurse Practice Act and the Physician Assistant Practice Act of 1987. Provides that violating the Compassionate Use of Medical Cannabis Program Act is grounds for disciplinary action under the Acts. Amends the Compassionate Use of Medical Cannabis Pilot Program Act. Removes the word "Pilot" from the Act's short title and the Compassionate Use of Medical Cannabis Pilot Program. Makes conforming changes throughout the Act and statutes. Replaces the defined term "bona fide physician-patient relationship" with "bona fide health care professional-relationship" and makes conforming changes throughout the Act. Provides that specified maladies are debilitating medical conditions. Refers to certifying health care professionals (rather than physicians) throughout the Act. Provides that a certifying health care professional may not engage in fee splitting as prohibited under the Medical Practice Act of 1987. Provides that nothing in the Act shall preclude a certifying health care professional from referring a patient for health services, including certification, under the Act. Provides that a qualifying patient under the age of 18 shall not be prohibited from having up to 3 (instead of 2) designated caregivers. Provides that the Department of Public Health shall establish procedures to permit qualified veterans to participate in the Opioid Alternative Pilot Program. Provides that any Department-approved quantity waiver process must be made available to qualified veterans. Requires the Department to provide for immediate changes to a registered qualifying patient's designated registered dispensing organization. Provides that the Department of Financial and Professional Regulation shall adopt rules permitting returns, and potential refunds, for damaged or inadequate products. Allows the Department of Financial and Professional Regulation to issue nondisciplinary citations for minor violations which may be accompanied by a civil penalty not to exceed $10,000 per violation and shall contain specified information. Provides that if the licensee does not dispute the matter in the citation with the Department of Financial and Professional Regulation within 30 days after the citation is served, then the citation shall become final and shall not be subject to appeal. Repeals a provision concerning changing a designated dispensing organization. Repeals a provision repealing the Act on July 1, 2020. Makes other changes. Effective immediately. House Floor Amendment No. 2 Adds reference to: 55 ILCS 5/5-1006.8 Provides that if and only if House Bill 1438 becomes law, then the Counties Code is amended. Provides that County Cannabis Retailers' Occupation Tax may not exceed: (i) 3.75% of the gross receipts of sales made in unincorporated areas of the county; and (ii) 3% of the gross receipts of sales made in a municipality located in the county (removing provisions limiting to 0.75% of the gross receipts of sales made in a municipality located in a non-home rule county and 3% of gross sales receipts made in a municipality located in a home rule county). Effective immediately or on the date House Bill 1438 takes effect, whichever is later.