CREDIT UNION ACT House SponsorsRep. Lou Lang-Adam Brown and André Thapedi Senate Sponsors(Sen. David Koehler and Terry Link) 7/28/2015HousePublic Act . . . . . . . . . 99-0149 205 ILCS 305/7from Ch. 17, par. 4408205 ILCS 305/46from Ch. 17, par. 4447205 ILCS 305/57.1 Amends the Illinois Credit Union Act. Provides that the failure of an out-of-state credit union to register with the Secretary of Financial and Professional Regulation shall not impair the collectability of a loan made to a resident of this State. Provides that, for a renewal, refinancing, or restructuring of an existing loan at the credit union that is secured by an interest or equity in real estate, a new appraisal of the collateral shall not be required when (i) no new moneys are advanced other than funds necessary to cover reasonable closing costs, or (ii) there has been no obvious or material change in market conditions or physical aspects of the real estate that threatens the adequacy of the credit union's real estate collateral protection after the transaction, even with the advancement of new moneys. Provides that a credit union may act as a representative of and enter into an agreement with credit unions or other organizations for the purposes of providing implementation and administrative support services related to the use of debit cards, payroll debit cards, and other prepaid debit cards and credit cards. Effective immediately.House Floor Amendment No. 1 Provides that the Department of Financial and Professional Regulation reserves the right to require an appraisal under a specified provision of the Act whenever the Department believes it is necessary to address safety and soundness concerns.Senate Floor Amendment No. 1 Adds reference to:205 ILCS 5/5g new205 ILCS 205/7008 new205 ILCS 305/42.7 new230 ILCS 15/1720 ILCS 5/28-1720 ILCS 5/28-1.1720 ILCS 5/28-2Replaces everything after the enacting clause. Reinserts the language of the engrossed bill with the following changes; amends the Illinois Credit Union Act, the Illinois Banking Act, and the Savings Bank Act; provides that a credit union's board of directors may authorize a savings promotion raffle; provides that, if authorized by its board of directors, a State bank may conduct a savings promotion raffle; provides that the savings promotion raffle shall be conducted so that each token or ticket representing an entry in the savings promotion raffle has an equal chance of being drawn; defines a "savings promotion raffle"; makes conforming changes in the Raffles and Poker Runs Act and the Criminal Code of 2012; amends the Raffles and Poker Runs Act; provides that "raffle" does not include a savings promotion raffle authorized under the Illinois Banking Act, the Savings Bank Act, the Illinois Credit Union Act, the National Bank Act, or the Home Owners' Loan Act. 2/18/2015HouseFiled with the Clerk by Rep. Lou Lang 2/18/2015HouseFirst Reading 2/18/2015HouseReferred to Rules Committee 2/20/2015HouseAdded Chief Co-Sponsor Rep. Adam Brown 3/2/2015HouseAssigned to Financial Institutions Committee 3/17/2015HouseAdded Co-Sponsor Rep. André Thapedi 3/17/2015HouseDo Pass / Short Debate Financial Institutions Committee; 019-000-000 3/18/2015HousePlaced on Calendar 2nd Reading - Short Debate 3/19/2015HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Lou Lang 3/19/2015HouseHouse Floor Amendment No. 1 Referred to Rules Committee 3/24/2015HouseHouse Floor Amendment No. 1 Recommends Be Adopted Rules Committee; 003-000-000 3/25/2015HouseSecond Reading - Short Debate 3/25/2015HouseHouse Floor Amendment No. 1 Adopted 3/25/2015HousePlaced on Calendar Order of 3rd Reading - Short Debate 4/14/2015HouseThird Reading - Short Debate - Passed 111-000-001 4/14/2015SenateArrive in Senate 4/14/2015SenatePlaced on Calendar Order of First Reading April 15, 2015 4/14/2015SenateChief Senate Sponsor Sen. David Koehler 4/15/2015SenateFirst Reading 4/15/2015SenateReferred to Assignments 4/22/2015SenateAssigned to Financial Institutions 4/29/2015SenateDo Pass Financial Institutions; 007-000-000 4/29/2015SenatePlaced on Calendar Order of 2nd Reading April 30, 2015 5/6/2015SenateAdded as Alternate Co-Sponsor Sen. Terry Link 5/7/2015SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. David Koehler 5/7/2015SenateSenate Floor Amendment No. 1 Referred to Assignments 5/13/2015SenateSenate Floor Amendment No. 1 Pursuant to Senate Rule 3-8(b-1), this amendment will remain in the Committee on Assignments 5/19/2015SenateSecond Reading 5/19/2015SenatePlaced on Calendar Order of 3rd Reading May 20, 2015 5/19/2015SenateSenate Floor Amendment No. 1 Assignments Refers to Financial Institutions 5/20/2015SenateSenate Floor Amendment No. 1 Recommend Do Adopt Financial Institutions; 007-000-000 5/21/2015SenateRecalled to Second Reading 5/21/2015SenateSenate Floor Amendment No. 1 Adopted; Koehler 5/21/2015SenatePlaced on Calendar Order of 3rd Reading 5/21/2015SenateThird Reading - Passed; 056-000-000 5/21/2015HouseArrived in House 5/21/2015HousePlaced on Calendar Order of Concurrence Senate Amendment(s) 1 5/22/2015HouseSenate Floor Amendment No. 1 Motion Filed Concur Rep. Lou Lang 5/22/2015HouseSenate Floor Amendment No. 1 Motion to Concur Referred to Rules Committee 5/25/2015HouseSenate Floor Amendment No. 1 Motion to Concur Rules Referred to Revenue & Finance Committee 5/27/2015HouseSenate Floor Amendment No. 1 Motion to Concur Recommends Be Adopted Revenue & Finance Committee; 009-000-000 5/31/2015HouseSenate Floor Amendment No. 1 House Concurs 108-000-002 5/31/2015HouseHouse Concurs 5/31/2015HousePassed Both Houses 6/29/2015HouseSent to the Governor 7/28/2015HouseGovernor Approved 7/28/2015HouseEffective Date January 1, 2016 7/28/2015HousePublic Act . . . . . . . . . 99-0149