---
type: "Bill"
title: "MUNI CD-BORROWING FROM THE IFA"
description: "Amends the Illinois Municipal Code. In provisions relating to a municipality borrowing money from a bank or other financial institution, modifies the definition of \"financial institution\" to include the Illinois Finance Authority."
jurisdiction: "us/states/il"
legislature: "Illinois General Assembly"
session: "103rd"
identifier: "HB 3340"
citation: "Illinois HB 3340 (103rd)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["Bill Cunningham", "Kelly M. Burke"]
version_count: 3
action_count: 29
vote_count: 4
first_action: "2023-02-17"
last_action: "2023-06-30"
source: "openstates"
source_identifier: "ocd-bill/b093ccb2-bd13-4507-a516-ceff3d98fbde"
source_url: "https://beta.ilga.gov/Legislation/BillStatus?DocNum=3340&GAID=17&DocTypeID=HB&LegId=148502&SessionID=112"
source_hash: "2ec1787cbfaae1bfad8decaa75d38cf9f5ea72de90078100445137154a1ca088"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-il"]
---

# Illinois HB 3340 (103rd) — MUNI CD-BORROWING FROM THE IFA

Amends the Illinois Municipal Code. In provisions relating to a municipality borrowing money from a bank or other financial institution, modifies the definition of "financial institution" to include the Illinois Finance Authority.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Introduced** (filed) — [source](https://beta.ilga.gov/documents/legislation/103/HB/PDF/10300HB3340.pdf)
2. **Engrossed** (committee substitute) — [source](https://beta.ilga.gov/documents/legislation/103/HB/PDF/10300HB3340eng.pdf)
3. **Enrolled** (enrolled) — [source](https://beta.ilga.gov/documents/legislation/103/HB/PDF/10300HB3340enr.pdf)

## Votes

- Third Reading — **55–1** (pass) · lower
- Executive — **13–0** (pass) · lower
- Financial Institutions & Licensing — **12–0** (pass) · lower
- Third Reading — **112–0** (pass) · lower

## Sponsors

- Bill Cunningham — primary (person)
- Kelly M. Burke — primary (person)
- Debbie Meyers-Martin — cosponsor (person)
- Eva-Dina Delgado — cosponsor (person)
- John Egofske — cosponsor (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2023-02-17** Filed with the Clerk by Rep. Kelly M. Burke `filing`
- **2023-02-17** First Reading `reading-1`
- **2023-02-17** Referred to Rules Committee
- **2023-02-28** Assigned to Financial Institutions and Licensing Committee `referral-committee`
- **2023-03-07** Added Chief Co-Sponsor Rep. Eva-Dina Delgado
- **2023-03-07** Do Pass / Short Debate Financial Institutions and Licensing Committee; 012-000-000
- **2023-03-08** Placed on Calendar 2nd Reading - Short Debate `reading-2`
- **2023-03-15** Second Reading - Short Debate `reading-2`
- **2023-03-15** Placed on Calendar Order of 3rd Reading - Short Debate
- **2023-03-22** Third Reading - Short Debate - Passed 112-000-000 `passage, reading-3`
- **2023-03-22** Added Chief Co-Sponsor Rep. John Egofske
- **2023-03-22** Added Co-Sponsor Rep. Debbie Meyers-Martin
- **2023-03-23** Arrive in Senate `introduction`
- **2023-03-23** Placed on Calendar Order of First Reading `reading-1`
- **2023-03-23** Chief Senate Sponsor Sen. Bill Cunningham
- **2023-03-23** First Reading `reading-1`
- **2023-03-23** Referred to Assignments
- **2023-04-12** Assigned to Executive `referral-committee`
- **2023-04-20** Do Pass Executive; 013-000-000
- **2023-04-20** Placed on Calendar Order of 2nd Reading April 25, 2023 `reading-2`
- **2023-04-26** Second Reading `reading-2`
- **2023-04-26** Placed on Calendar Order of 3rd Reading April 27, 2023
- **2023-05-05** Placed on Calendar Order of 3rd Reading ** May 8, 2023
- **2023-05-11** Third Reading - Passed; 055-001-000 `passage, reading-3`
- **2023-05-11** Passed Both Houses
- **2023-06-09** Sent to the Governor `executive-receipt`
- **2023-06-30** Governor Approved `executive-signature`
- **2023-06-30** Effective Date January 1, 2024
- **2023-06-30** Public Act . . . . . . . . . 103-0187 `became-law`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/b093ccb2-bd13-4507-a516-ceff3d98fbde`. Confidence: reported (aggregated from official Illinois legislature records).