Illinois House Bill 2980 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 3-0)
Status: Introduced on February 14 2019 - 25% progression, died in committee
Action: 2019-03-29 - House Committee Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Banking Act and the Illinois Credit Union Act. Provides that the Secretary of Financial and Professional Regulation shall not: issue an order against a financial institution for unsafe or unsound banking practices solely because the entity provides financial services to a cannabis-related legitimate business; prohibit, penalize, or otherwise discourage a financial institution from providing financial services to a cannabis-related legitimate business solely because the entity provides financial services to a cannabis-related legitimate business; recommend, incentivize, or encourage a financial institution not to offer financial services to an account holder or to downgrade or cancel the financial services offered to an account holder solely because the account holder is a manufacturer or producer or is the owner, operator, or employee of a cannabis-related legitimate business, the account holder later becomes an owner or operator of a cannabis-related legitimate business, or the financial institution was not aware that the account holder is the owner or operator of a cannabis-related legitimate business; and take any adverse or corrective supervisory action on a loan made to an owner or operator of a cannabis-related legitimate business solely because the owner or operator owns or operates a cannabis-related legitimate business or an owner or operator of real estate or equipment that is leased to a cannabis-related legitimate business solely because the owner or operator of the real estate or equipment leased the equipment or real estate to a cannabis-related legitimate business. Authorizes the Secretary to furnish confidential supervisory information relating to a financial institution providing financial services to cannabis-related businesses, limited to the name, contact information, and such other information as the Secretary determines is prudent, to the Illinois State Treasurer. Effective immediately.

BANKING-CANNABIS BUSINESSES

Rep. Jehan Gordon-Booth [D]

Rep. Bob Morgan [D]

Rep. Kelly Cassidy [D]

Date	Chamber	Action
2019-03-29	House	House Committee Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee
2019-03-29	House	Rule 19(a) / Re-referred to Rules Committee
2019-03-19	House	Added Chief Co-Sponsor Rep. Kelly M. Cassidy
2019-03-19	House	House Committee Amendment No. 1 Rules Refers to Judiciary - Criminal Committee
2019-03-14	House	Chief Sponsor Changed to Rep. Jehan Gordon-Booth
2019-03-13	House	House Committee Amendment No. 1 Referred to Rules Committee
2019-03-13	House	House Committee Amendment No. 1 Filed with Clerk by Rep. Kelly M. Cassidy
2019-03-13	House	Re-assigned to Judiciary - Criminal Committee
2019-02-26	House	Assigned to Executive Committee
2019-02-21	House	Added Chief Co-Sponsor Rep. Bob Morgan
2019-02-14	House	Referred to Rules Committee
2019-02-14	House	First Reading
2019-02-14	House	Filed with the Clerk by Rep. Kelly M. Cassidy

Chapter	Article	Section	Citation Type	Statute Text
205	305	8	Amended Code	Citation Text
205	305	9.1	Amended Code	Citation Text
205	5	48	Amended Code	Citation Text
205	5	48.3	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2980&GAID=15&DocTypeID=HB&SessionID=108&GA=101
Text	https://www.ilga.gov/legislation/101/HB/10100HB2980.htm
Amendment	https://www.ilga.gov/legislation/101/HB/10100HB2980ham001.htm