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republic-os/legislation/us/states/il/96th/sb-2996.md
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Fabio 5941153bb7 Legislation: batch B — IL IN KS KY LA MA MD ME MI MN 
Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 17:27:20 -04:00

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---
type: "Bill"
title: "FINAN REG-BANKING REGULATION"
description: "Amends the Office of Banks and Real Estate Act. Changes the title of the Act (and makes conforming changes in other Acts). Changes the powers of the Secretary of Financial and Professional Regulation with respect to jurisdiction over entities subject to the Act. Amends the Illinois Banking Act. Provides that the Secretary may (1) waive specified reciprocity requirements with respect to the establishment of branches and (2) prescribe the definition of \"liabilities outstanding\". Changes provisions concerning the powers and duties of the Secretary with respect to deposits, penalties, and the borrowing of funds under specified situations. Adds provisions concerning audits of banks subject to the Act. Changes provisions concerning capital impairment. Amends the Illinois Bank Holding Company Act of 1957. Changes provisions concerning the powers of the Secretary. Amends the Illinois Savings and Loan Act of 1985 and Savings Bank Act. Changes provisions concerning (1) the bonds of officers and employees, (2) personnel, records, files, actions, and duties, (3) the examination of associations, (4) reimbursement and powers of members of the Board of Savings Institutions. Adds provisions concerning the appointment of a receiver following taking of custody. Amends the Pawnbroker Regulation Act to make changes concerning (1) administration of the Act, (2) licensure, and (3) insurance requirements. Amends the Banking Emergencies Act, Corporate Fiduciary Act, and Foreign Banking Office Act to make changes concerning the powers of the Secretary. Repeals provisions in the Illinois Savings and Loan Act of 1985 and the Savings Bank Act. Repeals the Financial Institution Activity Reporting Act. Makes other changes. Effective immediately."
jurisdiction: "us/states/il"
legislature: "Illinois General Assembly"
session: "96th"
identifier: "SB 2996"
citation: "Illinois SB 2996 (96th)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: []
version_count: 3
action_count: 53
vote_count: 4
first_action: "2010-02-03"
last_action: "2010-07-28"
source: "openstates"
source_identifier: "ocd-bill/96ea4f67-c9c6-42c7-8cc9-181dcdf6358d"
source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=2996&GAID=10&DocTypeID=SB&LegId=50199&SessionID=76&GA=96"
source_hash: "f8f4f3aab9c2e7e250f3adca6ccdefe2111333a630d73858d7cf0e8bb5f2e83b"
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 2996 (96th) — FINAN REG-BANKING REGULATION
Amends the Office of Banks and Real Estate Act. Changes the title of the Act (and makes conforming changes in other Acts). Changes the powers of the Secretary of Financial and Professional Regulation with respect to jurisdiction over entities subject to the Act. Amends the Illinois Banking Act. Provides that the Secretary may (1) waive specified reciprocity requirements with respect to the establishment of branches and (2) prescribe the definition of "liabilities outstanding". Changes provisions concerning the powers and duties of the Secretary with respect to deposits, penalties, and the borrowing of funds under specified situations. Adds provisions concerning audits of banks subject to the Act. Changes provisions concerning capital impairment. Amends the Illinois Bank Holding Company Act of 1957. Changes provisions concerning the powers of the Secretary. Amends the Illinois Savings and Loan Act of 1985 and Savings Bank Act. Changes provisions concerning (1) the bonds of officers and employees, (2) personnel, records, files, actions, and duties, (3) the examination of associations, (4) reimbursement and powers of members of the Board of Savings Institutions. Adds provisions concerning the appointment of a receiver following taking of custody. Amends the Pawnbroker Regulation Act to make changes concerning (1) administration of the Act, (2) licensure, and (3) insurance requirements. Amends the Banking Emergencies Act, Corporate Fiduciary Act, and Foreign Banking Office Act to make changes concerning the powers of the Secretary. Repeals provisions in the Illinois Savings and Loan Act of 1985 and the Savings Bank Act. Repeals the Financial Institution Activity Reporting Act. Makes other changes. Effective immediately.
## Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
1. **Introduced** (filed) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09600SB2996&GA=96&SessionId=76&DocTypeId=SB&LegID=50199&DocNum=2996&GAID=10&Session=&print=true)
2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09600SB2996eng&GA=96&SessionId=76&DocTypeId=SB&LegID=50199&DocNum=2996&GAID=10&Session=&print=true)
3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09600SB2996enr&GA=96&SessionId=76&DocTypeId=SB&LegID=50199&DocNum=2996&GAID=10&Session=&print=true)
## Votes
- Concurrence — **54–0** (pass) · upper
- Third Reading — **55–0** (pass) · upper
- Concurrence — **54–0** (pass) · upper
- Third Reading — **109–0** (pass) · lower
## Sponsors
- Kimberly A. Lightford — primary (person)
## Timeline
The legislative action history — every referral, reading, and vote.
- **2010-02-03** Filed with Secretary by Sen. Kimberly A. Lightford `filing`
- **2010-02-03** First Reading `reading-1`
- **2010-02-03** Referred to Assignments `referral-committee`
- **2010-02-24** Assigned to Financial Institutions `referral-committee`
- **2010-03-03** Postponed - Financial Institutions
- **2010-03-04** Added as Chief Co-Sponsor Sen. Jacqueline Y. Collins
- **2010-03-05** Rule 2-10 Committee Deadline Established As March 19, 2010
- **2010-03-15** Senate Committee Amendment No. 1 Filed with Secretary by Sen. Kimberly A. Lightford `amendment-introduction`
- **2010-03-15** Senate Committee Amendment No. 1 Referred to Assignments `referral-committee`
- **2010-03-16** Senate Committee Amendment No. 1 Assignments Refers to Financial Institutions
- **2010-03-17** Senate Committee Amendment No. 1 Adopted `amendment-passage`
- **2010-03-17** Do Pass as Amended Financial Institutions; 009-000-000 `committee-passage`
- **2010-03-17** Placed on Calendar Order of 2nd Reading March 18, 2010
- **2010-03-18** Second Reading `reading-2`
- **2010-03-18** Placed on Calendar Order of 3rd Reading March 23, 2010
- **2010-03-19** Rule 2-10 Third Reading Deadline Established As March 26, 2010 `reading-3`
- **2010-03-24** Third Reading - Passed; 055-000-000 `reading-3, passage`
- **2010-03-25** Arrived in House `introduction`
- **2010-03-25** Chief House Sponsor Rep. Jay C. Hoffman
- **2010-03-25** Placed on Calendar Order of First Reading `reading-1`
- **2010-03-25** First Reading `reading-1`
- **2010-03-25** Referred to Rules Committee `referral-committee`
- **2010-04-20** Added Alternate Chief Co-Sponsor Rep. Barbara Flynn Currie
- **2010-04-22** Committee Deadline Extended-Rule 9(b) April 30, 2010
- **2010-04-22** Assigned to Financial Institutions Committee `referral-committee`
- **2010-04-28** House Committee Amendment No. 1 Filed with Clerk by Financial Institutions Committee `amendment-introduction`
- **2010-04-28** House Committee Amendment No. 2 Filed with Clerk by Financial Institutions Committee `amendment-introduction`
- **2010-04-28** House Committee Amendment No. 1 Adopted in Financial Institutions Committee; by Voice Vote `amendment-passage`
- **2010-04-28** House Committee Amendment No. 2 Adopted in Financial Institutions Committee; by Voice Vote `amendment-passage`
- **2010-04-28** Do Pass as Amended / Short Debate Financial Institutions Committee; 018-000-000 `committee-passage`
- **2010-04-28** Placed on Calendar 2nd Reading - Short Debate
- **2010-04-28** Added Alternate Chief Co-Sponsor Rep. Monique D. Davis
- **2010-04-29** Second Reading - Short Debate `reading-2`
- **2010-04-29** Placed on Calendar Order of 3rd Reading - Short Debate
- **2010-05-03** Third Reading - Short Debate - Passed 109-000-002 `reading-3, passage`
- **2010-05-03** Secretary's Desk - Concurrence House Amendment(s) 1, 2
- **2010-05-03** Placed on Calendar Order of Concurrence House Amendment(s) 1, 2 - May 4, 2010
- **2010-05-03** House Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Kimberly A. Lightford `filing`
- **2010-05-03** House Committee Amendment No. 1 Motion to Concur Referred to Assignments `referral-committee`
- **2010-05-03** House Committee Amendment No. 2 Motion to Concur Filed with Secretary Sen. Kimberly A. Lightford `filing`
- **2010-05-03** House Committee Amendment No. 2 Motion to Concur Referred to Assignments `referral-committee`
- **2010-05-04** House Committee Amendment No. 1 Motion to Concur Assignments Referred to Financial Institutions `referral-committee`
- **2010-05-04** House Committee Amendment No. 2 Motion to Concur Assignments Referred to Financial Institutions `referral-committee`
- **2010-05-05** House Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Financial Institutions; 010-000-000
- **2010-05-05** House Committee Amendment No. 2 Motion To Concur Recommended Do Adopt Financial Institutions; 010-000-000
- **2010-05-05** Added as Chief Co-Sponsor Sen. Dan Rutherford
- **2010-05-05** House Committee Amendment No. 1 Senate Concurs 054-000-000
- **2010-05-05** House Committee Amendment No. 2 Senate Concurs 054-000-000
- **2010-05-05** Passed Both Houses
- **2010-06-03** Sent to the Governor `executive-receipt`
- **2010-07-28** Governor Approved `executive-signature`
- **2010-07-28** Effective Date July 28, 2010
- **2010-07-28** Public Act . . . . . . . . . 96-1365 `became-law`
## Source
OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/96ea4f67-c9c6-42c7-8cc9-181dcdf6358d`. Confidence: reported (aggregated from official Illinois legislature records).
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