republic-os/legislation/us/states/il/102nd/sb-3847.md

---
type: "Bill"
title: "STATE TREASURER-LOAN GUARANTEE"
description: "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."
jurisdiction: "us/states/il"
legislature: "Illinois General Assembly"
session: "102nd"
identifier: "SB 3847"
citation: "Illinois SB 3847 (102nd)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["Christopher Belt", "Sonya M. Harper"]
version_count: 3
action_count: 28
vote_count: 2
first_action: "2022-01-21"
last_action: "2022-05-27"
source: "openstates"
source_identifier: "ocd-bill/1f1cf571-a559-4570-aeae-fc46997b9010"
source_url: "https://ilga.gov/legislation/BillStatus.asp?DocNum=3847&GAID=16&DocTypeID=SB&LegId=138910&SessionID=110&GA=102"
source_hash: "15cf41ff2de851519e7361f899d1a734f7898b3a13a072ed26deb092d9fa2c9f"
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 SB 3847 (102nd) — STATE TREASURER-LOAN GUARANTEE

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.

## Version chain

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

1. **Introduced** (filed) — [source](https://ilga.gov/legislation/102/SB/PDF/10200SB3847.pdf)
2. **Engrossed** (committee substitute) — [source](https://ilga.gov/legislation/102/SB/PDF/10200SB3847eng.pdf)
3. **Enrolled** (enrolled) — [source](https://ilga.gov/legislation/102/SB/PDF/10200SB3847enr.pdf)

## Votes

- Third Reading — **53–0** (pass) · upper
- Third Reading — **71–41** (pass) · lower

## Sponsors

- Christopher Belt — primary (person)
- Sonya M. Harper — primary (person)
- LaToya Greenwood — cosponsor (person)
- Mary E. Flowers — cosponsor (person)

## Timeline

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

- **2022-01-21** Filed with Secretary by Sen. Christopher Belt `filing`
- **2022-01-21** First Reading `reading-1`
- **2022-01-21** Referred to Assignments `referral-committee`
- **2022-02-01** Assigned to State Government `referral-committee`
- **2022-02-10** Do Pass State Government; 008-000-000 `committee-passage`
- **2022-02-10** Placed on Calendar Order of 2nd Reading February 15, 2022
- **2022-02-15** Second Reading `reading-2`
- **2022-02-15** Placed on Calendar Order of 3rd Reading February 16, 2022
- **2022-02-16** Third Reading - Passed; 053-000-000 `passage, reading-3`
- **2022-02-16** Arrived in House `introduction`
- **2022-02-16** Chief House Sponsor Rep. LaToya Greenwood
- **2022-02-16** First Reading `reading-1`
- **2022-02-16** Referred to Rules Committee `referral-committee`
- **2022-03-02** Alternate Chief Sponsor Changed to Rep. Sonya M. Harper
- **2022-03-02** Added Alternate Chief Co-Sponsor Rep. LaToya Greenwood
- **2022-03-07** Assigned to Financial Institutions Committee `referral-committee`
- **2022-03-15** Do Pass / Short Debate Financial Institutions Committee; 007-004-000 `committee-passage`
- **2022-03-16** Placed on Calendar 2nd Reading - Short Debate
- **2022-03-23** Second Reading - Short Debate `reading-2`
- **2022-03-23** Placed on Calendar Order of 3rd Reading - Short Debate
- **2022-03-31** Final Action Deadline Extended-9(b) April 8, 2022
- **2022-04-06** Third Reading - Short Debate - Passed 071-041-000 `passage, reading-3`
- **2022-04-06** Passed Both Houses
- **2022-04-06** Added Alternate Chief Co-Sponsor Rep. Mary E. Flowers
- **2022-05-05** Sent to the Governor `executive-receipt`
- **2022-05-27** Governor Approved `executive-signature`
- **2022-05-27** Effective Date May 27, 2022
- **2022-05-27** Public Act . . . . . . . . . 102-1027 `became-law`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/1f1cf571-a559-4570-aeae-fc46997b9010`. Confidence: reported (aggregated from official Illinois legislature records).