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Amends the Deposit of State Moneys Act and the Public Funds Investment Act. Provides that the State Treasurer or any public agency may consider the current and historical ratings that a financial institution has received under the Illinois Community Reinvestment Act when deciding whether to deposit State or public funds in that financial institution. Provides that, effective January 1, 2026, no State or public funds may be deposited in a financial institution subject to the Illinois Community Reinvestment Act unless either (i) the institution has a current rating of satisfactory or outstanding under the Illinois Community Reinvestment Act or (ii) the Department of Financial and Professional Regulation has not yet completed its initial examination of the institution pursuant to the Illinois Community Reinvestment Act. Makes conforming changes. Effective January 1, 2026.
Introduced
Apr 9, 2025
Last Action
Aug 1, 2025
Session
IL 104th
Sponsors
2 primary · 4 co
Public Act . . . . . . . . . 104-0092
Effective Date January 1, 2026
Governor Approved
Sent to the Governor
Third Reading - Short Debate - Passed 108-000-000
Added Alternate Co-Sponsor Rep. Thaddeus Jones
Passed Both Houses
Added Alternate Chief Co-Sponsor Rep. Camille Y. Lilly
Second Reading - Short Debate
Placed on Calendar Order of 3rd Reading - Short Debate
Placed on Calendar 2nd Reading - Short Debate
Do Pass / Short Debate Financial Institutions and Licensing Committee; 011-000-000
Assigned to Financial Institutions and Licensing Committee
Third Reading - Passed; 056-000-000
Placed on Calendar Order of 3rd Reading
Arrived in House
Chief House Sponsor Rep. Kimberly Du Buclet
First Reading
Referred to Rules Committee
Added as Co-Sponsor Sen. Kimberly A. Lightford
Placed on Calendar Order of 3rd Reading **
Second Reading
Placed on Calendar Order of 3rd Reading March 6, 2025
Added as Chief Co-Sponsor Sen. Mark L. Walker
Placed on Calendar Order of 2nd Reading February 27, 2025
Do Pass as Amended Financial Institutions; 008-000-000
Senate Committee Amendment No. 1 Adopted
Senate Committee Amendment No. 1 Assignments Refers to Financial Institutions
Senate Committee Amendment No. 1 Filed with Secretary by Sen. Mattie Hunter
Senate Committee Amendment No. 1 Referred to Assignments
Postponed - Financial Institutions
Assigned to Financial Institutions
First Reading
Referred to Assignments
Filed with Secretary by Sen. Mattie Hunter
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Public Act . . . . . . . . . 104-0092