---
type: "Bill"
title: "BANKS-REVERSE STOCK SPLITS"
description: "BANKS-REVERSE STOCK SPLITS"
jurisdiction: "us/states/il"
legislature: "Illinois General Assembly"
session: "90th"
identifier: "HB 1588"
citation: "Illinois HB 1588 (90th)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: []
version_count: 1
action_count: 31
vote_count: 0
first_action: "1997-03-06T00:00:00-06:00"
last_action: "1997-07-23T00:00:00-05:00"
source: "openstates"
source_identifier: "ocd-bill/8dcee0c3-2655-4cd2-adc8-91a34d43a200"
source_url: "http://www.ilga.gov/legislation/legisnet90/90gatoc.html"
source_hash: "87b595bc256f2fe64e2d7a0660cdc8dd880574e4489b683d286a6c909e92be67"
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 1588 (90th) — BANKS-REVERSE STOCK SPLITS

## Version chain

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

1. **HB1588** (committee substitute) — [source](http://www.ilga.gov/legislation/legisnet90/hbgroups/hb/900HB1588LV.html)

## Sponsors

- BRADY — cosponsor (person)
- KLEMM — cosponsor (person)
- MCAULIFFE — cosponsor (person)
- RUTHERFORD — cosponsor (person)
- RYDER — cosponsor (person)
- TENHOUSE — cosponsor (person)
- WALSH,T — cosponsor (person)

## Timeline

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

- **1997-03-06T00:00:00-06:00** FIRST READING `reading-1`
- **1997-03-06T00:00:00-06:00** REFERRED TO HOUSE RULES COMMITTEE RULES `referral-committee`
- **1997-03-11T00:00:00-06:00** ASSIGNED TO COMMITTEE FIN INSTIT `referral-committee`
- **1997-03-19T00:00:00-06:00** DO PASS/SHORT DEBATE 029-000-000 HFIN
- **1997-03-19T00:00:00-06:00** PLACED CALENDAR 2ND READING-SHORT DEBATE
- **1997-03-20T00:00:00-06:00** SECOND READING-SHORT DEBATE `reading-2`
- **1997-03-20T00:00:00-06:00** PLCD CAL ORDER 3RD READING-SHORT DEBATE
- **1997-03-21T00:00:00-06:00** FISCAL NOTE FILED
- **1997-03-21T00:00:00-06:00** CALENDAR ORDER 3RD READING-SHORT DEBATE
- **1997-04-08T00:00:00-05:00** ADDED AS A JOINT SPONSOR RYDER
- **1997-04-08T00:00:00-05:00** ADDED AS A CO-SPONSOR BRADY
- **1997-04-08T00:00:00-05:00** ADDED AS A CO-SPONSOR MCAULIFFE
- **1997-04-08T00:00:00-05:00** ADDED AS A CO-SPONSOR TENHOUSE
- **1997-04-14T00:00:00-05:00** THIRD READING/SHORT DEBATE/PASSED 117-000-001 `reading-3`
- **1997-04-15T00:00:00-05:00** ARRIVE IN SENATE
- **1997-04-15T00:00:00-05:00** PLACED CALENDAR ORDER OF FIRST READING
- **1997-04-15T00:00:00-05:00** CHIEF SPONSOR KLEMM
- **1997-04-16T00:00:00-05:00** FIRST READING `reading-1`
- **1997-04-16T00:00:00-05:00** REFERRED TO SENATE RULES COMMITTEE RULES `referral-committee`
- **1997-04-22T00:00:00-05:00** ADDED AS A CHIEF CO-SPONSOR WALSH,T
- **1997-04-23T00:00:00-05:00** ASSIGNED TO COMMITTEE FIN INST `referral-committee`
- **1997-05-01T00:00:00-05:00** DO PASS 008-000-000 SFIC
- **1997-05-01T00:00:00-05:00** PLACED ON CALENDAR ORDER OF 2ND READING 97-05-06
- **1997-05-07T00:00:00-05:00** SECOND READING `reading-2`
- **1997-05-07T00:00:00-05:00** PLACED ON CALENDAR ORDER OF 3RD READING 97-05-08
- **1997-05-09T00:00:00-05:00** THIRD READING - PASSED 053-000-002 `reading-3`
- **1997-05-09T00:00:00-05:00** PASSED BOTH HOUSES
- **1997-06-06T00:00:00-05:00** SENT TO THE GOVERNOR `executive-receipt`
- **1997-07-23T00:00:00-05:00** GOVERNOR APPROVED `executive-signature`
- **1997-07-23T00:00:00-05:00** EFFECTIVE DATE 97-07-23
- **1997-07-23T00:00:00-05:00** PUBLIC ACT.............................. 90-0160

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/8dcee0c3-2655-4cd2-adc8-91a34d43a200`. Confidence: reported (aggregated from official Illinois legislature records).