Christopher Belt
- Democratic
- Senator
- District 57
Primary
Amends the Community Development Loan Guarantee Act. Provides that the State Treasurer may establish the Loan Guarantee Program by establishing one or more Loan Guarantee Accounts at approved financial institutions (currently, one Account as a special account outside the State treasury with the State Treasurer as custodian). Provides that moneys in a Loan Guarantee Account may be paid to a participating financial institution to cover losses on guaranteed loans up to the full amount in the Account or the amount of loss, whichever is lesser. Provides that the State of Illinois and the State Treasurer shall not be responsible for any losses in excess of the full amount in the Loan Guarantee Account designated for a participating financial institution. Provides that the State Treasurer may withdraw funds from any Loan Guarantee Account for a financial institution's failure to comply with Program requirements. Makes conforming and other changes. Effective immediately.
Public Act . . . . . . . . . 102-1027
Effective Date May 27, 2022
Governor Approved
Sent to the Governor
Passed Both Houses
Added Alternate Chief Co-Sponsor Rep. Mary E. Flowers
Third Reading - Short Debate - Passed 071-041-000
Final Action Deadline Extended-9(b) April 8, 2022
Placed on Calendar Order of 3rd Reading - Short Debate
Second Reading - Short Debate
Placed on Calendar 2nd Reading - Short Debate
Do Pass / Short Debate Financial Institutions Committee; 007-004-000
Assigned to Financial Institutions Committee
Added Alternate Chief Co-Sponsor Rep. LaToya Greenwood
Alternate Chief Sponsor Changed to Rep. Sonya M. Harper
Chief House Sponsor Rep. LaToya Greenwood
Referred to Rules Committee
First Reading
Arrived in House
Third Reading - Passed; 053-000-000
Second Reading
Placed on Calendar Order of 3rd Reading February 16, 2022
Do Pass State Government; 008-000-000
Placed on Calendar Order of 2nd Reading February 15, 2022
Assigned to State Government
First Reading
Referred to Assignments
Filed with Secretary by Sen. Christopher Belt
| Bill Text Versions | Format |
|---|---|
| Introduced | HTML PDF |
| Engrossed | HTML PDF |
| Enrolled | HTML PDF |
| Document | Format |
|---|---|
| Public Act |
Data on Open States is updated periodically throughout the day from the official website of the Illinois General Assembly.
If you notice any inconsistencies with these official sources, feel free to file an issue.