IllinoisSB1301104th General Assembly (2025–2026)Senate

FUNDS-COMMUNITY REINVESTMENT

Sponsored By: Mattie Hunter (Democratic)

Signed by Governor

Summary

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.

assignmentsfinancial institutionsfinancial institutions and licensing

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Mattie Hunter

    Democratic • Senate

Cosponsors

  • Camille Y. Lilly

    Democratic • House

  • Kimberly A. Lightford

    Democratic • Senate

  • Kimberly Du Buclet

    Democratic • House

  • Mark L. Walker

    Democratic • Senate

  • Thaddeus Jones

    Democratic • House

Roll Call Votes

All Roll Calls

Yes: 183 • No: 0

House vote • 5/21/2025

Third Reading - Short Debate - Passed

Yes: 108 • No: 0

House vote • 4/29/2025

Do Pass / Short Debate Financial Institutions and Licensing Committee;

Yes: 11 • No: 0

Senate vote • 4/9/2025

Third Reading - Passed;

Yes: 56 • No: 0

Senate vote • 2/26/2025

Do Pass as Amended Financial Institutions;

Yes: 8 • No: 0

Bill Text

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