Illinois legislation · 104th General Assembly
Illinois HB1700: FUNDS-COMMUNITY REINVESTMENT
Status: Signed into law, June 26, 2026
Amends the Deposit of State Moneys Act and the Public Funds Investment Act. Provides that the State Treasurer or any public agency may consider the current and historical ratings that a financial institution has received under the Illinois Community Reinvestment Act when deciding whether to deposit State or public funds in that financial institution. Provides that, effective January 1, 2026, no State or public funds may be deposited in a financial institution subject to the Illinois Community Reinvestment Act unless either (i) the institution has a current rating of satisfactory or outstanding under the Illinois Community Reinvestment Act or (ii) the Department of Financial and Professional Regulation has not yet completed its initial examination of the institution pursuant to the Illinois Community Reinvestment Act. Makes conforming changes. Effective January 1, 2026.
What the bill says
An act concerning State government.
From the engrossed text, March 18, 2025:
AN ACT concerning State government. Be it enacted by the People of the State of Illinois, represented in the General Assembly: Section 5.The Deposit of State Moneys Act is amended by changing Sections 16.1 and 16.3 as follows: (15 ILCS 520/16.1)(from Ch. 130, par. 35.1) Sec. 16.1.Depository reports.The State Treasurer may request, at his discretion, a financial institution, as a condition to serving as a State depository of public funds, to submit to the State Treasurer a copy of the consolidated report of condition and income required to be submitted on a periodic basis to a[ADDED: State][DELETED: state]or federal regulator of the financial institution[ADDED: ,][DELETED: and]a copy of the financial institution's[ADDED: Illinois]Community Reinvestment Act statement and examination, if available[ADDED: , and a copy of the financial ] [ADDED: institution's federal Community Reinvestment Act of 1977 ] [ADDED: statement and examination, if available]. Nothing in this Section, however, shall require a financial institution to submit any document or part thereof deemed to be confidential by a State or federal regulator of the financial institution. (Source: P.A. 87-510.) (15 ILCS 520/16.3) HB1700 Engrossed- 2 -LRB104 08228 SPS 18278 b HB1700 Engrossed - 2 - LRB104 08228 SPS 18278 b HB1700 Engrossed - 2 - LRB104 08228 SPS 18278 b Sec. 16.3.Consideration of financial institution's commitment to its community. (a) In addition to …
Sponsors
- Ann M. Williams (D, 11) · primary sponsor
- Sonya M. Harper (D, 6)
- Camille Y. Lilly (D, 78)
- Jehan Gordon-Booth (D, 92)
- Debbie Meyers-Martin (D, 38)
- Suzanne M. Ness (D, 66)
- William "Will" Davis (D, 30)
- Justin Slaughter (D, 27)
- Michael Crawford (D, 31)
- Lisa Davis (D, 32)
- Emanuel "Chris" Welch (D, 7)
- Yolonda Morris (D, 9)
Latest actions
- : Public Act . . . . . . . . . 104-0477
- : Effective Date June 26, 2026
- : Governor Approved
- : Sent to the Governor
- : Passed Both Houses
- : House Concurs
- : Senate Floor Amendment No. 4 House Concurs 075-039-000
- : Senate Floor Amendment No. 3 House Concurs 075-039-000
- : Senate Committee Amendment No. 1 House Concurs 075-039-000
- : Senate Floor Amendment No. 4 Motion to Concur Recommends Be Adopted Rules Committee; 005-000-000
Votes
- Senate Floor Amendment No. 4 House Concurs (May 31, 2026): 75 yea, 39 nay, passed
- Senate Floor Amendment No. 3 House Concurs (May 31, 2026): 75 yea, 39 nay, passed
- Senate Committee Amendment No. 1 House Concurs (May 31, 2026): 75 yea, 39 nay, passed
- Third Reading - Passed (May 30, 2026): 36 yea, 20 nay, passed
- Senate Floor Amendment No. 4 Motion to Concur Recommends Be Adopted Rules Committee (May 30, 2026): 5 yea, 0 nay, passed
- Senate Floor Amendment No. 3 Motion to Concur Recommends Be Adopted Rules Committee (May 30, 2026): 5 yea, 0 nay, passed
Subjects: ILCS 15 - Executive Branch, ILCS 30 - Finance
Common questions
- What is HB1700?
- HB1700 is a bill in the Illinois Legislature (104th General Assembly): FUNDS-COMMUNITY REINVESTMENT.
- What does HB1700 do?
- In its own words: An act concerning State government.
- What is the status of HB1700?
- Signed into law as of June 26, 2026. Latest action: Public Act . . . . . . . . . 104-0477 (June 26, 2026).
- Who sponsored HB1700?
- Ann M. Williams (D, 11), with 11 co-sponsors.
- Where is the official record for HB1700?
- On the Illinois Legislature website: https://www.ilga.gov/Legislation/BillStatus?DocNum=1700&GAID=18&DocTypeID=HB&SessionID=114
Source: official Illinois record. Tracked by Delilah, AI for legislation across all 50 states and Congress.