HB2785 - 104th General Assembly (2025-2026)

CREDIT UNIONS-VARIOUS
Last Action
08/15/2025 - House: Public Act . . . . . . . . . 104-0248
Statutes Amended In Order of Appearance
205 ILCS 305/10  from Ch. 17, par. 4411
205 ILCS 305/29  from Ch. 17, par. 4430
205 ILCS 305/34  from Ch. 17, par. 4435
205 ILCS 305/63  from Ch. 17, par. 4464
Synopsis As Introduced
Amends the Illinois Credit Union Act. Authorizes a credit union to furnish information to any person on a list submitted and periodically updated by a member who is an elderly person or person with a disability or to specified other persons, if there is suspicion by the credit union that the member has been or may become a victim of financial exploitation. Provides that the board of directors of a credit union with a composite rating of either 1 or 2 under the Uniform Financial Institutions Rating System known as the CAMELS supervisory rating system and a management rating under such composite rating of either 1 or 2 may meet not less than 4 (instead of 6) times annually. Provides that the supervisory committee of a credit union with assets of less than $10,000,000 may, at its option, engage (instead of a credit union with assets of $5,000,000 or more, but less than $10,000,000 shall engage) a licensed certified public accountant or licensed certified public accounting firm to perform specified auditing and other services. Permits the merger of credit unions, without meeting certain voting and notice requirements, where supervisory concerns exist and upon agreement of the boards of directors of the merging and continuing credit unions, as confirmed by a majority vote of the directors present at a meeting of each board at which a quorum is present. Makes other changes.

House Committee Amendment No. 1
Adds reference to:
205 ILCS 305/19  from Ch. 17, par. 4420
Replaces everything after the enacting clause with the provisions of the introduced bill with the following changes. Makes changes to disclosure requirements in provisions concerning the furnishing of information to any person on a list submitted and periodically updated by a member who is an elderly person or person with a disability if there is suspicion that the member has been or may become a victim of financial exploitation. In provisions concerning member voting, provides that members shall have the right to vote on specified questions in person by written ballot. Provides that the board of directors of a credit union with $50,000,000 or more in assets, a composite rating of either 1 or 2 under the Uniform Financial Institutions Rating System known as the CAMELS supervisory rating system (or an equivalent rating under a comparable rating system), and a management rating under the composite rating of either 1 or 2 shall meet no fewer than 4 times annually, with at least one meeting held during each fiscal quarter. Provides that the board of directors of a credit union with less than $50,000,000 in assets, but with the composite and management ratings referenced in this subsection, may meet no fewer than 4 times annually, with at least one meeting held during each fiscal quarter, upon prior written approval of the Secretary of Financial and Professional Regulation. Establishes requirements regarding the meeting frequency schedule for the board of directors. Provides that the supervisory committee of a credit union with assets of less than $10,000,000 may, at its option, engage a licensed certified public accounting firm to perform the procedures to minimally satisfy certain supervisory committee internal audit standards within the standards established by the American Institute of Certified Public Accountants (instead of to perform agreed-upon procedures to minimally satisfy certain supervisory committee internal audit standards).

Senate Committee Amendment No. 1
Deletes reference to:
205 ILCS 305/10  
205 ILCS 305/19  
205 ILCS 305/29  
205 ILCS 305/34  
205 ILCS 305/63  
Adds reference to:
205 ILCS 305/6  from Ch. 17, par. 4407
Replaces everything after the enacting clause. Amends the Illinois Credit Union Act. Makes a technical change in a Section concerning the fiscal year of credit unions.

Senate Floor Amendment No. 3
Deletes reference to:
205 ILCS 305/6  
Adds reference to:
215 ILCS 5/356z.3a  
Replaces everything after the enacting clause. Makes changes to defined terms in provisions concerning billing for emergency services. Removes provision that made emergency billing provisions inapplicable to ground ambulance services. Sets forth provisions concerning coverage for ground ambulance services provided by nonparticipating ground ambulance service providers. Provides that, beginning on October 1, 2026, and each October 1 thereafter, each nonparticipating ground ambulance service provider shall file annually with the Department of Public Health, in the form and manner prescribed by the Department, its average gross charge rates and any other information required by the Department, by rule, for each of the specified ground ambulance charge descriptions. Requires the Department to publish the submitted rate information by January 1, 2027 and every January 1 thereafter. Permits the Department to request other information, as provided. Requires the Department of Insurance to direct the health insurance issuer to the location in which the information reported to the Department of Public Health is stored. Provides that a home rule unit may not regulate payments for ground ambulance service in a manner inconsistent with the specified provisions concerning billing for emergency services. Makes conforming changes. Effective immediately.
Actions
DateChamberAction
02/05/2025HouseFiled with the Clerk by Rep. Jay Hoffman
02/06/2025HouseFirst Reading
02/06/2025HouseReferred to Rules Committee
03/04/2025HouseAssigned to Financial Institutions and Licensing Committee
03/04/2025HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Jay Hoffman
03/04/2025HouseHouse Committee Amendment No. 1 Referred to Rules Committee
03/05/2025HouseHouse Committee Amendment No. 1 Rules Refers to Financial Institutions and Licensing Committee
03/11/2025HouseAdded Chief Co-Sponsor Rep. Margaret Croke
03/11/2025HouseHouse Committee Amendment No. 1 Adopted in Financial Institutions and Licensing Committee; by Voice Vote
03/11/2025HouseDo Pass as Amended / Short Debate Financial Institutions and Licensing Committee; 012-000-000
03/12/2025HousePlaced on Calendar 2nd Reading - Short Debate
03/25/2025HouseSecond Reading - Short Debate
03/25/2025HousePlaced on Calendar Order of 3rd Reading - Short Debate
04/10/2025HouseChief Sponsor Changed to Rep. Ann M. Williams
04/10/2025HouseAdded Chief Co-Sponsor Rep. Jay Hoffman
04/10/2025HouseChief Sponsor Changed to Rep. Martin J. Moylan
04/11/2025HouseThird Reading - Short Debate - Passed 115-000-000
04/11/2025HouseAdded Co-Sponsor Rep. Natalie A. Manley
04/11/2025HouseAdded Co-Sponsor Rep. Michael J. Kelly
04/11/2025HouseAdded Co-Sponsor Rep. Mary Gill
04/11/2025HouseAdded Co-Sponsor Rep. Rick Ryan
04/11/2025HouseAdded Co-Sponsor Rep. Joyce Mason
04/11/2025HouseAdded Co-Sponsor Rep. Anthony DeLuca
04/11/2025HouseAdded Co-Sponsor Rep. Dave Vella
04/11/2025HouseAdded Co-Sponsor Rep. Hoan Huynh
04/14/2025SenateArrive in Senate
04/14/2025SenatePlaced on Calendar Order of First Reading
04/14/2025SenateChief Senate Sponsor Sen. David Koehler
04/14/2025SenateFirst Reading
04/14/2025SenateReferred to Assignments
05/08/2025SenateAssigned to Executive
05/09/2025SenateRule 2-10 Committee Deadline Established As May 23, 2025
05/13/2025SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Don Harmon
05/13/2025SenateSenate Committee Amendment No. 1 Referred to Assignments
05/13/2025SenateAlternate Chief Sponsor Changed to Sen. Don Harmon
05/14/2025SenateSenate Committee Amendment No. 1 Assignments Refers to Executive
05/14/2025SenateSenate Committee Amendment No. 1 Adopted
05/15/2025SenateDo Pass as Amended Executive; 009-004-000
05/15/2025SenatePlaced on Calendar Order of 2nd Reading
05/15/2025SenateSecond Reading
05/15/2025SenatePlaced on Calendar Order of 3rd Reading May 20, 2025
05/23/2025SenateRule 2-10 Third Reading/Passage Deadline Established As June 1, 2025
05/28/2025SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Ram Villivalam
05/28/2025SenateSenate Floor Amendment No. 2 Referred to Assignments
05/29/2025SenateSenate Floor Amendment No. 3 Filed with Secretary by Sen. Ram Villivalam
05/29/2025SenateSenate Floor Amendment No. 3 Referred to Assignments
05/29/2025SenateSenate Floor Amendment No. 3 Assignments Refers to Executive
05/29/2025SenateAlternate Chief Sponsor Changed to Sen. Ram Villivalam
05/29/2025SenateAdded as Alternate Chief Co-Sponsor Sen. Linda Holmes
05/29/2025SenateSenate Floor Amendment No. 3 Recommend Do Adopt Executive; 012-000-000
05/30/2025SenateRecalled to Second Reading
05/30/2025SenateSenate Floor Amendment No. 3 Adopted; Villivalam
05/30/2025SenatePlaced on Calendar Order of 3rd Reading
05/30/2025SenateThird Reading - Passed; 057-000-000
05/30/2025SenateSenate Floor Amendment No. 2 Tabled Pursuant to Rule 5-4(a)
05/30/2025HouseArrived in House
05/30/2025HousePlaced on Calendar Order of Concurrence Senate Amendment(s) 1, 3
05/30/2025HouseSenate Committee Amendment No. 1 Motion Filed Concur Rep. Martin J. Moylan
05/30/2025HouseSenate Floor Amendment No. 3 Motion Filed Concur Rep. Martin J. Moylan
05/30/2025HouseSenate Committee Amendment No. 1 Motion to Concur Referred to Rules Committee
05/30/2025HouseSenate Floor Amendment No. 3 Motion to Concur Referred to Rules Committee
05/31/2025HouseSenate Committee Amendment No. 1 Motion to Concur Rules Referred to Insurance Committee
05/31/2025HouseSenate Floor Amendment No. 3 Motion to Concur Rules Referred to Insurance Committee
05/31/2025HouseSenate Committee Amendment No. 1 Motion to Concur Recommends Be Adopted Insurance Committee; 017-000-000
05/31/2025HouseSenate Floor Amendment No. 3 Motion to Concur Recommends Be Adopted Insurance Committee; 017-000-000
05/31/2025HouseSenate Committee Amendment No. 1 House Concurs 116-000-000
05/31/2025HouseSenate Floor Amendment No. 3 House Concurs 116-000-000
05/31/2025HouseHouse Concurs
05/31/2025HousePassed Both Houses
06/24/2025HouseSent to the Governor
08/15/2025HouseGovernor Approved
08/15/2025HouseEffective Date August 15, 2025
08/15/2025HousePublic Act . . . . . . . . . 104-0248