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IllinoisSB1301104th General Assembly (2025–2026)SenateWALLET

FUNDS-COMMUNITY REINVESTMENT

Sponsored By: Mattie Hunter (Democratic)

Became Law

assignmentsfinancial institutionsfinancial institutions and licensing

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Bill Overview

Analyzed Economic Effects

5 provisions identified: 4 benefits, 0 costs, 1 mixed.

Agencies must weigh community commitment

Starting January 1, 2026, the State Treasurer and public agencies must weigh each bank’s record of investing in its local community when placing public funds. They may look at federal and Illinois community reinvestment ratings. They may also consider ownership or management changes, policy changes, and the money impact on the State or agency. These factors guide where public money is placed.

No deposits in poor community-rated banks

Since January 1, 2022, the State and public agencies cannot deposit money in a bank covered by the federal Community Reinvestment Act unless it is rated satisfactory or outstanding. Beginning January 1, 2026, the same rule applies to banks covered by the Illinois Community Reinvestment Act. An exception allows deposits if Illinois has not yet finished the bank’s first Illinois exam. These rules apply at the time of each deposit.

No early withdrawals for Illinois rating drops

From January 1, 2026, State and public deposits are not pulled out early only because a bank’s Illinois community rating falls below satisfactory. This protection applies only before the deposit’s maturity date. Other valid reasons to withdraw early are not limited by this rule.

Preference for top community-rated banks

Starting January 1, 2026, the State Treasurer and public agencies may favor banks that have outstanding ratings under both the federal and Illinois community reinvestment laws. This is a preference, not a mandate. It applies when investing or depositing State or other public funds.

Banks share reports; confidential exams stay private

Starting January 1, 2026, the State Treasurer may require banks that hold State deposits to submit call reports and community reinvestment statements, and exam reports if available. Banks do not have to submit documents that regulators keep confidential. The law does not let the Treasurer or agencies examine banks or get nonpublic examiner materials. Decisions rely on public information and permitted filings.

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

Actions Timeline

  1. Public Act . . . . . . . . . 104-0092

    8/1/2025Senate

  2. Effective Date January 1, 2026

    8/1/2025Senate

  3. Governor Approved

    8/1/2025Senate

  4. Sent to the Governor

    6/18/2025Senate

  5. Added Alternate Co-Sponsor Rep. Thaddeus Jones

    5/21/2025House

  6. Passed Both Houses

    5/21/2025Senate

  7. Third Reading - Short Debate - Passed 108-000-000

    5/21/2025House

  8. Added Alternate Chief Co-Sponsor Rep. Camille Y. Lilly

    5/21/2025House

  9. Placed on Calendar Order of 3rd Reading - Short Debate

    5/13/2025House

  10. Second Reading - Short Debate

    5/13/2025House

  11. Placed on Calendar 2nd Reading - Short Debate

    4/30/2025House

  12. Do Pass / Short Debate Financial Institutions and Licensing Committee; 011-000-000

    4/29/2025House

  13. Assigned to Financial Institutions and Licensing Committee

    4/17/2025House

  14. Referred to Rules Committee

    4/9/2025House

  15. First Reading

    4/9/2025House

  16. Chief House Sponsor Rep. Kimberly Du Buclet

    4/9/2025House

  17. Arrived in House

    4/9/2025House

  18. Third Reading - Passed; 056-000-000

    4/9/2025Senate

  19. Placed on Calendar Order of 3rd Reading

    4/9/2025Senate

  20. Placed on Calendar Order of 3rd Reading **

    4/4/2025Senate

  21. Added as Co-Sponsor Sen. Kimberly A. Lightford

    4/4/2025Senate

  22. Placed on Calendar Order of 3rd Reading March 6, 2025

    3/5/2025Senate

  23. Second Reading

    3/5/2025Senate

  24. Added as Chief Co-Sponsor Sen. Mark L. Walker

    2/26/2025Senate

  25. Placed on Calendar Order of 2nd Reading February 27, 2025

    2/26/2025Senate

Bill Text

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