Fabio
118 lines
8.7 KiB
Markdown
118 lines
8.7 KiB
Markdown
---
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type: "Bill"
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title: "CREDIT UNIONS-VARIOUS"
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description: "Amends the Illinois Credit Union Act. Authorizes a credit union to furnish information to any person on a list submitted and periodically updated by a member who is an elderly person or person with a disability or to specified other persons, if there is suspicion by the credit union that the member has been or may become a victim of financial exploitation. Provides that the board of directors of a credit union with a composite rating of either 1 or 2 under the Uniform Financial Institutions Rating System known as the CAMELS supervisory rating system and a management rating under such composite rating of either 1 or 2 may meet not less than 4 (instead of 6) times annually. Provides that the supervisory committee of a credit union with assets of less than $10,000,000 may, at its option, engage (instead of a credit union with assets of $5,000,000 or more, but less than $10,000,000 shall engage) a licensed certified public accountant or licensed certified public accounting firm to perform specified auditing and other services. Permits the merger of credit unions, without meeting certain voting and notice requirements, where supervisory concerns exist and upon agreement of the boards of directors of the merging and continuing credit unions, as confirmed by a majority vote of the directors present at a meeting of each board at which a quorum is present. Makes other changes."
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jurisdiction: "us/states/il"
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legislature: "Illinois General Assembly"
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session: "104th"
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identifier: "SB 1994"
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citation: "Illinois SB 1994 (104th)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: ["David Koehler", "Jay Hoffman"]
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version_count: 5
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action_count: 47
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vote_count: 8
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first_action: "2025-02-06"
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last_action: "2025-08-15"
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source: "openstates"
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source_identifier: "ocd-bill/238245a5-d995-4e1d-81e8-64be713797e5"
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source_url: "https://ilga.gov/Legislation/BillStatus?DocNum=1994&GAID=18&DocTypeID=SB&LegId=161394&SessionID=114"
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source_hash: "356e35ec3838b1d038b181c3729d15a2759c71510a001fba7b5b809503dca130"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-il"]
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---
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# Illinois SB 1994 (104th) — CREDIT UNIONS-VARIOUS
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Amends the Illinois Credit Union Act. Authorizes a credit union to furnish information to any person on a list submitted and periodically updated by a member who is an elderly person or person with a disability or to specified other persons, if there is suspicion by the credit union that the member has been or may become a victim of financial exploitation. Provides that the board of directors of a credit union with a composite rating of either 1 or 2 under the Uniform Financial Institutions Rating System known as the CAMELS supervisory rating system and a management rating under such composite rating of either 1 or 2 may meet not less than 4 (instead of 6) times annually. Provides that the supervisory committee of a credit union with assets of less than $10,000,000 may, at its option, engage (instead of a credit union with assets of $5,000,000 or more, but less than $10,000,000 shall engage) a licensed certified public accountant or licensed certified public accounting firm to perform specified auditing and other services. Permits the merger of credit unions, without meeting certain voting and notice requirements, where supervisory concerns exist and upon agreement of the boards of directors of the merging and continuing credit unions, as confirmed by a majority vote of the directors present at a meeting of each board at which a quorum is present. Makes other changes.
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **Introduced** (filed) — [source](https://ilga.gov/documents/legislation/104/SB/PDF/10400SB1994.pdf)
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2. **Engrossed** (committee substitute) — [source](https://ilga.gov/documents/legislation/104/SB/PDF/10400SB1994eng.pdf)
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3. **House Amendment 001** (committee substitute) — [source](https://ilga.gov/documents/legislation/104/SB/PDF/10400SB1994ham001.pdf)
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4. **Senate Amendment 001** (committee substitute) — [source](https://ilga.gov/documents/legislation/104/SB/PDF/10400SB1994sam001.pdf)
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5. **Enrolled** (enrolled) — [source](https://ilga.gov/documents/legislation/104/SB/PDF/10400SB1994enr.pdf)
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## Votes
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- Financial Institutions — **8–0** (pass) · upper
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- Financial Institutions — **8–0** (pass) · upper
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- Third Reading — **56–0** (pass) · upper
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- Financial Institutions & Licensing, Amendment 1 — **11–0** (pass) · lower
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- Concurrence, Amendment 1 — **57–0** (pass) · upper
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- Financial Institutions & Licensing — **11–0** (pass) · lower
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- Third Reading — **114–0** (pass) · lower
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- Executive, Amendment 1 — **12–0** (pass) · upper
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## Sponsors
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- David Koehler — primary (person)
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- Jay Hoffman — primary (person)
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- Chris Balkema — cosponsor (person)
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- Graciela Guzmán — cosponsor (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2025-02-06** Filed with Secretary by Sen. David Koehler `filing`
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- **2025-02-06** First Reading `reading-1`
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- **2025-02-06** Referred to Assignments
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- **2025-02-25** Assigned to Financial Institutions `referral-committee`
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- **2025-02-25** Added as Chief Co-Sponsor Sen. Graciela Guzmán
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- **2025-03-03** Senate Committee Amendment No. 1 Filed with Secretary by Sen. David Koehler `amendment-introduction`
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- **2025-03-03** Senate Committee Amendment No. 1 Referred to Assignments
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- **2025-03-04** Senate Committee Amendment No. 1 Assignments Refers to Financial Institutions
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- **2025-03-05** Senate Committee Amendment No. 1 Adopted `amendment-passage`
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- **2025-03-05** Do Pass as Amended Financial Institutions; 008-000-000
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- **2025-03-05** Placed on Calendar Order of 2nd Reading March 6, 2025 `reading-2`
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- **2025-03-18** Second Reading `reading-2`
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- **2025-03-18** Placed on Calendar Order of 3rd Reading March 19, 2025
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- **2025-04-04** Placed on Calendar Order of 3rd Reading **
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- **2025-04-09** Placed on Calendar Order of 3rd Reading
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- **2025-04-09** Third Reading - Passed; 056-000-000 `passage, reading-3`
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- **2025-04-09** Arrived in House `introduction`
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- **2025-04-10** Chief House Sponsor Rep. Jay Hoffman
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- **2025-04-10** First Reading `reading-1`
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- **2025-04-10** Referred to Rules Committee
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- **2025-04-17** Assigned to Financial Institutions and Licensing Committee `referral-committee`
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- **2025-04-29** Do Pass / Short Debate Financial Institutions and Licensing Committee; 011-000-000
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- **2025-04-30** Placed on Calendar 2nd Reading - Short Debate `reading-2`
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- **2025-05-13** House Floor Amendment No. 1 Filed with Clerk by Rep. Jay Hoffman `amendment-introduction`
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- **2025-05-13** House Floor Amendment No. 1 Referred to Rules Committee
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- **2025-05-14** House Floor Amendment No. 1 Rules Refers to Financial Institutions and Licensing Committee
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- **2025-05-16** Second Reading - Short Debate `reading-2`
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- **2025-05-16** Held on Calendar Order of Second Reading - Short Debate `reading-2`
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- **2025-05-20** House Floor Amendment No. 1 Recommends Be Adopted Financial Institutions and Licensing Committee; 011-000-000 `committee-passage-favorable`
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- **2025-05-22** Added as Co-Sponsor Sen. Chris Balkema
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- **2025-05-23** Third Reading/Final Action Deadline Extended-9(b) May 31, 2025
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- **2025-05-28** House Floor Amendment No. 1 Adopted `amendment-passage`
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- **2025-05-28** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2025-05-28** Third Reading - Short Debate - Passed 114-000-000 `passage, reading-3`
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- **2025-05-28** Secretary's Desk - Concurrence House Amendment(s) 1
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- **2025-05-28** Placed on Calendar Order of Concurrence House Amendment(s) 1 - May 28, 2025
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- **2025-05-29** House Floor Amendment No. 1 Motion to Concur Filed with Secretary Sen. David Koehler `filing`
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- **2025-05-29** House Floor Amendment No. 1 Motion to Concur Referred to Assignments
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- **2025-05-29** House Floor Amendment No. 1 Motion to Concur Assignments Referred to Executive
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- **2025-05-29** House Floor Amendment No. 1 Motion To Concur Recommended Do Adopt Executive; 012-000-000
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- **2025-05-31** House Floor Amendment No. 1 Senate Concurs 057-000-000
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- **2025-05-31** Senate Concurs
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- **2025-05-31** Passed Both Houses
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- **2025-06-27** Sent to the Governor `executive-receipt`
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- **2025-08-15** Governor Approved `executive-signature`
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- **2025-08-15** Effective Date January 1, 2026
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- **2025-08-15** Public Act . . . . . . . . . 104-0403 `became-law`
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/238245a5-d995-4e1d-81e8-64be713797e5`. Confidence: reported (aggregated from official Illinois legislature records).
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