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HB 623 Illinois House · 95th Regular Session

CREDIT UNION ACT-FUND INVEST

Summary
Amends the Illinois Credit Union Act. Provides that a credit union investing to fund an employee benefit plan obligation is not subject to the investment limitations of the Illinois Credit Union Act and may purchase an investment that would otherwise be impermissible if the investment is directly related to the credit union's obligation under the employee benefit plan and the credit union holds the investment only for so long as it has an actual or potential obligation under the employee benefit plan. Effective immediately.
Bill status signed all 5 stages cleared
Introduction
Mar 2007
Committee Review
Apr 2007
House Passage
May 2007
Senate Passage
May 2007
Signed into Law
Aug 2007
Introduced Mar 6, 2007 Signed Aug 13, 2007
Floor votes · Senate May 16, 2007 · House Mar 1, 2007

How they voted

46–0
Passed · 1 other
Total votes 47
May 16, 2007
D Democratic29
29 Yea
100% Yea
R Republican18
17 Yea 1
94% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
33
Key actions
5
Committee
6
Aug 13, 2007
Signed into law
Governor Approved
lower
May 16, 2007
Lower · Passed
Passed Both Houses
lower
Apr 20, 2007
Upper · Passed
Do Pass Financial Institutions; 007-000-000
upper
Mar 30, 2007
Committee
Assigned to Financial Institutions
upper
Mar 6, 2007
Committee
Referred to Rules
upper
Mar 6, 2007
Introduced
Arrive in Senate
upper
Mar 1, 2007
House · Passed
House Vote: pass (93-0-3)
house
Feb 21, 2007
Lower · Passed
Do Pass / Short Debate Financial Institutions Committee; 020-000-000
lower
Feb 7, 2007
Committee
Assigned to Financial Institutions Committee
lower
Feb 5, 2007
Committee
Referred to Rules Committee
lower
0 primary · 1 co-sponsor

Sponsors

No sponsor information available.