IL HB2699 | 2009-2010 | 96th General Assembly

Status

Spectrum: Moderate Partisan Bill (Republican 8-1)
Status: Introduced on February 23 2009 - 25% progression, died in committee
Action: 2009-03-13 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Deposit of State Moneys Act. Requires the State Treasurer to implement and administer, by rule, a program requiring financial institutions to make mortgage loans on residential property in order for that financial institution to be eligible for investment of State funds in that financial institution. Requires the rules to contain provisions concerning not rejecting residential mortgage loans because of the location of the property, minimum assets to be invested in residential mortgage loans, minimum annual new residential mortgage loans, and reporting and auditing. Requires the Treasurer to report annually to the General Assembly. Effective immediately.

Tracking Information

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Title

STATE FUNDS-DEPOSIT-MORTGAGES

Sponsors


History

DateChamberAction
2009-03-13 Rule 19(a) / Re-referred to Rules Committee
2009-03-11 Added Co-Sponsor Rep. Angelo Saviano
2009-03-11 Added Co-Sponsor Rep. William B. Black
2009-03-03 Assigned to State Government Administration Committee
2009-02-25 Added Co-Sponsor Rep. Keith Farnham
2009-02-24 Referred to Rules Committee
2009-02-24 First Reading
2009-02-24 Added Co-Sponsor Rep. Michael G. Connelly
2009-02-23 Chief Co-Sponsor Rep. Richard P. Myers
2009-02-23 Chief Co-Sponsor Rep. Michael W. Tryon
2009-02-23 Chief Co-Sponsor Rep. Mike Fortner
2009-02-23 Chief Co-Sponsor Rep. Elizabeth Coulson
2009-02-23 Filed with the Clerk by Rep. Robert W. Pritchard

Illinois State Sources


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