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IllinoisSB1777104th General Assembly (2025–2026)SenateWALLET

BANKING&PROBATE-FINANCE/NOTICE

Sponsored By: Mark L. Walker (Democratic)

Became Law

assignmentsjudiciaryjudiciary - civil

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Bill Overview

Analyzed Economic Effects

7 provisions identified: 4 benefits, 0 costs, 3 mixed.

Medicaid long-term care bank record sharing

If you apply for Medicaid long-term care, you can sign a written, notarized, and witnessed consent. Your bank, savings bank, or credit union may send listed records only to DHS or HFS to check eligibility. You may revoke the consent before disclosure. The bank cannot send records to the care facility. Records should be delivered within 10 days or as soon as they can. Banks can be paid back for reasonable search and copy costs and may wait to deliver until paid.

Clearer rules for who can be executor

The law lists who gets priority to manage an estate. A person with a past felony can serve if the will says the testator knew about the felony and other limits are met. Banks and businesses that follow court letters or orders when dealing with an executor are protected from liability. If there is a dispute or unknown co-executors, they may wait for a court decision.

Electronic records and signatures count

You can choose to get required notices electronically if you clearly agree and can open them. The provider must explain your rights, offer paper copies, and confirm you can access the files. If tech changes block access, they must tell you and get consent again. Accurate electronic copies of bank records count the same as paper. Valid digital signatures work like handwritten ones; no one is forced to use them.

POD accounts can pass to descendants

You can choose per stirpes on a payable-on-death account so a deceased beneficiary’s share goes to their descendants. Banks may rely on your written list or on affidavits naming descendants. The shares must add to 100%. If no beneficiary or descendant survives, the money goes to the estate.

Fines for unlawful bank record sharing

A bank, savings bank, or credit union officer who knowingly and willfully shares records in violation of this law can be fined up to $1,000. Anyone who knowingly tries to get them to break the law can also be fined up to $1,000.

Limited data sharing for store cards

If you use a store-branded credit program, your bank can share limited data with the store’s credit partner. Shared data can include your balance, available credit, payment history, what you bought, and basic identity details. Sharing is only for running that credit program.

Notice and fees for subpoenaed bank records

If your bank gets a subpoena or court order for your records, the bank sends you a copy first. It can mail, hand deliver, use a carrier, or email you if you agreed to e-delivery. No notice is sent if a court or law forbids it, or for grand jury subpoenas. Banks can be paid back for reasonable costs to search, copy, or move records. The state banking regulator sets payment rates for banks.

Sponsors & Cosponsors

Sponsor

  • Mark L. Walker

    Democratic • Senate

Cosponsors

  • Dan Ugaste

    Republican • House

  • Daniel Didech

    Democratic • House

  • Jennifer Gong-Gershowitz

    Democratic • House

  • Jil Tracy

    Republican • Senate

  • Margaret Croke

    Democratic • House

Roll Call Votes

All Roll Calls

Yes: 199 • No: 0

House vote • 5/22/2025

Third Reading - Short Debate - Passed

Yes: 115 • No: 0

House vote • 4/23/2025

Do Pass / Short Debate Judiciary - Civil Committee;

Yes: 19 • No: 0

Senate vote • 4/9/2025

Third Reading - Passed;

Yes: 56 • No: 0

Senate vote • 3/19/2025

Do Pass as Amended Judiciary;

Yes: 9 • No: 0

Actions Timeline

  1. Public Act . . . . . . . . . 104-0123

    8/1/2025Senate

  2. Effective Date January 1, 2026

    8/1/2025Senate

  3. Governor Approved

    8/1/2025Senate

  4. Sent to the Governor

    6/20/2025Senate

  5. Passed Both Houses

    5/22/2025Senate

  6. Third Reading - Short Debate - Passed 115-000-000

    5/22/2025House

  7. Added Alternate Chief Co-Sponsor Rep. Daniel Didech

    5/20/2025House

  8. Added Alternate Chief Co-Sponsor Rep. Jennifer Gong-Gershowitz

    5/20/2025House

  9. Added Alternate Chief Co-Sponsor Rep. Dan Ugaste

    5/20/2025House

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

    5/14/2025House

  11. Second Reading - Short Debate

    5/14/2025House

  12. Placed on Calendar 2nd Reading - Short Debate

    4/23/2025House

  13. Do Pass / Short Debate Judiciary - Civil Committee; 019-000-000

    4/23/2025House

  14. Assigned to Judiciary - Civil Committee

    4/17/2025House

  15. Referred to Rules Committee

    4/9/2025House

  16. First Reading

    4/9/2025House

  17. Chief House Sponsor Rep. Margaret Croke

    4/9/2025House

  18. Arrived in House

    4/9/2025House

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

    4/9/2025Senate

  20. Placed on Calendar Order of 3rd Reading

    4/9/2025Senate

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

    4/4/2025Senate

  22. Placed on Calendar Order of 3rd Reading April 1, 2025

    3/20/2025Senate

  23. Second Reading

    3/20/2025Senate

  24. Placed on Calendar Order of 2nd Reading March 20, 2025

    3/19/2025Senate

  25. Do Pass as Amended Judiciary; 009-000-000

    3/19/2025Senate

Bill Text

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