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HB 5685 Illinois House · 98th Regular Session

REPEAL SAVINGS AND LOAN ACT

Summary
Repeals the Illinois Savings and Loan Act of 1985. Amends the Savings Bank Act. Deletes the definition of "impairment" and related provisions and defines "out-of-state savings bank". Adds provisions regarding the deposit of moneys into the Savings Bank Regulatory Fund. Adds an Article concerning the effect of the repeal of the Illinois Savings and Loan Act of 1985 and an Article that establishes the Board of Savings Banks and creates provisions concerning appointment to the Board, the organization of the Board, meetings of the Board, and the powers of the Board. Amends the Corporate Fiduciary Act. Provides that the Secretary of Financial and Professional Regulation or any person appointed as a receiver shall have all the powers, rights, and privileges as the Federal Deposit Insurance Corporation. Amends the State Finance Act. Changes the name of the Savings and Residential Finance Regulatory Fund to the Residential Finance Regulatory Fund and changes the name of the Savings Bank Institutions Regulatory Fund to the Savings Bank Regulatory Fund. Amends the Illinois Banking Act. Provides that the Secretary of Financial and Professional Regulation or any person appointed as a receiver shall have all the powers, rights, and privileges as the Federal Deposit Insurance Corporation. Amends the Residential Mortgage License Act of 1987. Deletes provisions concerning the Commissioner of Banks and Real Estate. Makes other changes.
Bill status signed all 5 stages cleared
Introduction
Apr 2014
Committee Review
May 2014
House Passage
May 2014
Senate Passage
May 2014
Signed into Law
Aug 2014
Introduced Apr 2, 2014 Signed Aug 26, 2014
Floor votes · Senate May 22, 2014 · House May 29, 2014

How they voted

45–0
Passed · 2 other
Total votes 47
May 22, 2014
D Democratic30
29 Yea 1
96% Yea
R Republican17
16 Yea 1
94% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
50
Key actions
11
Committee
14
Amendments
10
Aug 26, 2014
Signed into law
Governor Approved
lower
May 29, 2014
Lower · Passed
Passed Both Houses
lower
May 29, 2014
Introduced
Senate Floor Amendment No. 1 House Concurs 113-000-002
lower
May 28, 2014
Lower · Passed
Senate Floor Amendment No. 1 Motion to Concur Recommends Be Adopted Financial Institutions Committee; 009-000-000
lower
May 26, 2014
Committee
Senate Floor Amendment No. 1 Motion to Concur Rules Referred to Financial Institutions Committee
lower
May 23, 2014
Committee
Senate Floor Amendment No. 1 Motion to Concur Referred to Rules Committee
lower
May 23, 2014
Introduced
Senate Floor Amendment No. 1 Motion Filed Concur Rep. Maria Antonia Berrios
lower
May 22, 2014
Introduced
Placed on Calendar Order of Concurrence Senate Amendment(s) 1
lower
May 22, 2014
Introduced
Arrived in House
lower
May 22, 2014
Upper · Passed
Senate Floor Amendment No. 1 Adopted; Collins
upper
May 22, 2014
Senate · Passed
Senate Vote: pass (45-0-2)
senate
May 20, 2014
Introduced
Senate Floor Amendment No. 1 Be Approved for Consideration Assignments
upper
May 20, 2014
Committee
Senate Floor Amendment No. 1 Referred to Assignments
upper
May 20, 2014
Introduced
Senate Floor Amendment No. 1 Filed with Secretary by Sen. Jacqueline Y. Collins
upper
May 7, 2014
Upper · Passed
Do Pass Financial Institutions; 007-000-000
upper
Apr 30, 2014
Committee
Assigned to Financial Institutions
upper
Apr 3, 2014
Committee
Referred to Assignments
upper
Apr 2, 2014
Introduced
Arrive in Senate
upper
Mar 25, 2014
Lower · Passed
Do Pass as Amended / Short Debate Financial Institutions Committee; 013-000-000
lower
Mar 25, 2014
Lower · Passed
House Committee Amendment No. 2 Adopted in Financial Institutions Committee; by Voice Vote
lower
Mar 25, 2014
Lower · Passed
House Committee Amendment No. 1 Adopted in Financial Institutions Committee; by Voice Vote
lower
Mar 25, 2014
Lower · Passed
House Committee Amendment No. 2 Rules Refers to Financial Institutions Committee
lower
Mar 24, 2014
Lower · Passed
House Committee Amendment No. 1 Rules Refers to Financial Institutions Committee
lower
Mar 21, 2014
Committee
House Committee Amendment No. 2 Referred to Rules Committee
lower
Mar 21, 2014
Introduced
House Committee Amendment No. 2 Filed with Clerk by Rep. Maria Antonia Berrios
lower
Mar 20, 2014
Committee
House Committee Amendment No. 1 Referred to Rules Committee
lower
Mar 20, 2014
Introduced
House Committee Amendment No. 1 Filed with Clerk by Rep. Maria Antonia Berrios
lower
Mar 19, 2014
Committee
Assigned to Financial Institutions Committee
lower
Feb 14, 2014
Committee
Referred to Rules Committee
lower
0 primary · 2 co-sponsors

Sponsors

No sponsor information available.