republic-os/legislation/us/states/il/103rd/sb-3687.md

type, title, description, jurisdiction, legislature, session, identifier, citation, classification, subjects, status, primary_sponsors, version_count, action_count, vote_count, first_action, last_action, source, source_identifier, source_url, source_hash, vintage, source_snapshot, retrieved_at, confidence, tags

type	title	description	jurisdiction	legislature	session	identifier	citation	classification	subjects	status	primary_sponsors	version_count	action_count	vote_count	first_action	last_action	source	source_identifier	source_url	source_hash	vintage	source_snapshot	retrieved_at	confidence	tags
Bill	CREDIT UNIONS-EXAMINATION FEES	Amends the Illinois Credit Union Act. Provides that a credit union regulated by the Department of Financial and Professional Regulation that is a covered financial institution under the Illinois Community Reinvestment Act shall pay an examination fee to the Department subject to the rules adopted by the Department. Provides that the aggregate of all credit union examination fees collected by the Department under the Illinois Community Reinvestment Act shall be paid and transferred promptly, accompanied by a detailed statement, into the State Treasury and shall be set apart in the Credit Union Community Reinvestment Act Fund. Provides the limits to the amounts of funds that a credit union may invest in the purchase of an investment interest in a pool of loans when the investment is greater than the net worth of the credit union. Provides that credit unions may invest funds in derivatives transactions to aid in the credit union's management of interest rate risk if certain specified conditions are satisfied. Makes changes to provisions concerning conflicts between bylaws adopted by the subscribers of a credit union and the Act. Makes changes to provisions concerning rules adopted by the Secretary of Financial and Professional Regulation and the Act. Makes other changes. Amends the State Finance Act. Creates the Credit Union Community Reinvestment Act Fund. Effective immediately.	us/states/il	Illinois General Assembly	103rd	SB 3687	Illinois SB 3687 (103rd)	bill		enacted	David Koehler Jay Hoffman	4	34	5	2024-02-09	2024-08-09	openstates	ocd-bill/7e2317e1-b9c8-42de-8990-aca44a9a5aa8	https://beta.ilga.gov/Legislation/BillStatus?DocNum=3687&GAID=17&DocTypeID=SB&LegId=153668&SessionID=112	cb440f7e0aee4144b930afe77e3950ed4e63ad5378c24d0117273057b08d1a4a	2026-07-01	https://data.openstates.org/daily/2026-07-01/public.pgdump	2026-07-06	reported	legislation bill us-il

Illinois SB 3687 (103rd) — CREDIT UNIONS-EXAMINATION FEES

Amends the Illinois Credit Union Act. Provides that a credit union regulated by the Department of Financial and Professional Regulation that is a covered financial institution under the Illinois Community Reinvestment Act shall pay an examination fee to the Department subject to the rules adopted by the Department. Provides that the aggregate of all credit union examination fees collected by the Department under the Illinois Community Reinvestment Act shall be paid and transferred promptly, accompanied by a detailed statement, into the State Treasury and shall be set apart in the Credit Union Community Reinvestment Act Fund. Provides the limits to the amounts of funds that a credit union may invest in the purchase of an investment interest in a pool of loans when the investment is greater than the net worth of the credit union. Provides that credit unions may invest funds in derivatives transactions to aid in the credit union's management of interest rate risk if certain specified conditions are satisfied. Makes changes to provisions concerning conflicts between bylaws adopted by the subscribers of a credit union and the Act. Makes changes to provisions concerning rules adopted by the Secretary of Financial and Professional Regulation and the Act. Makes other changes. Amends the State Finance Act. Creates the Credit Union Community Reinvestment Act Fund. Effective immediately.

Version chain

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

1. Introduced (filed) — source
2. Engrossed (committee substitute) — source
3. Senate Amendment 001 (committee substitute) — source
4. Enrolled (enrolled) — source

Votes

• Financial Institutions, Amendment 1 — 6–0 (pass) · lower
• Third Reading — 58–0 (pass) · lower
• Third Reading — 110–0 (pass) · lower
• Financial Institutions & Licensing — 12–0 (pass) · lower
• Financial Institutions — 7–0 (pass) · lower

Sponsors

• David Koehler — primary (person)
• Jay Hoffman — primary (person)
• Omar Aquino — cosponsor (person)
• Willie Preston — cosponsor (person)

Timeline

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

• 2024-02-09 Filed with Secretary by Sen. David Koehler filing
• 2024-02-09 First Reading reading-1
• 2024-02-09 Referred to Assignments
• 2024-02-28 Assigned to Financial Institutions referral-committee
• 2024-03-06 Postponed - Financial Institutions
• 2024-03-13 Do Pass Financial Institutions; 007-000-000
• 2024-03-13 Placed on Calendar Order of 2nd Reading March 14, 2024 reading-2
• 2024-04-01 Senate Floor Amendment No. 1 Filed with Secretary by Sen. David Koehler amendment-introduction
• 2024-04-01 Senate Floor Amendment No. 1 Referred to Assignments
• 2024-04-09 Senate Floor Amendment No. 1 Assignments Refers to Financial Institutions
• 2024-04-10 Senate Floor Amendment No. 1 Recommend Do Adopt Financial Institutions; 006-000-000
• 2024-04-10 Senate Floor Amendment No. 1 Adopted amendment-passage
• 2024-04-10 Second Reading reading-2
• 2024-04-10 Placed on Calendar Order of 3rd Reading April 11, 2024
• 2024-04-12 Third Reading - Passed; 058-000-000 passage, reading-3
• 2024-04-12 Arrived in House introduction
• 2024-04-12 Chief House Sponsor Rep. Jay Hoffman
• 2024-04-12 Added as Co-Sponsor Sen. Omar Aquino
• 2024-04-12 Added as Co-Sponsor Sen. Willie Preston
• 2024-04-15 First Reading reading-1
• 2024-04-15 Referred to Rules Committee
• 2024-04-24 Assigned to Financial Institutions and Licensing Committee referral-committee
• 2024-04-30 Do Pass / Short Debate Financial Institutions and Licensing Committee; 012-000-000
• 2024-05-01 Placed on Calendar 2nd Reading - Short Debate reading-2
• 2024-05-16 Second Reading - Short Debate reading-2
• 2024-05-16 Held on Calendar Order of Second Reading - Short Debate reading-2
• 2024-05-17 Third Reading/Final Action Deadline Extended-9(b) May 24, 2024
• 2024-05-22 Placed on Calendar Order of 3rd Reading - Short Debate
• 2024-05-22 Third Reading - Short Debate - Passed 110-000-000 passage, reading-3
• 2024-05-22 Passed Both Houses
• 2024-06-20 Sent to the Governor executive-receipt
• 2024-08-09 Governor Approved executive-signature
• 2024-08-09 Effective Date August 9, 2024
• 2024-08-09 Public Act . . . . . . . . . 103-1034 became-law

Source

OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/7e2317e1-b9c8-42de-8990-aca44a9a5aa8. Confidence: reported (aggregated from official Illinois legislature records).