STATE BILLIL HB 4770PASSED

CREDIT UNIONS-VARIOUS

Reinserts the provisions of the introduced bill with the following changes. Makes changes to senior management official and executive officer provisions. In provisions concerning the delegation of duties by the board of directors, provides that the board of directors may delegate to the chief management official the hiring of employees other than the chief management official, including, without limitation, vice presidents and other officers (instead of just the hiring of employees other than the chief management official), and fixing their title, grade, and compensation (instead of just their compensation). Removes provisions concerning a credit union's authority to engage in digital asset business activity and perform custodial services. Provides that, when marketing or advertising digital assets, digital asset business activities conducted by covered persons or service providers (instead of digital asset business activities), and related administrative functions to the members of the credit union, the members shall receive the specified information. Makes changes to compliance requirements in provisions concerning the investment of credit union funds in commercial mortgage related securities and collateralized mortgage obligations. Effective immediately.

Status: Passed; Signed or otherwise enacted
Status date: Jun 26, 2026; 139 days ago
Current chamber: House of Representatives
Session: 2025-2026 Regular Session

IL HB 4770 · PassedJun 26

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Bill details

Last action: Public Act . . . . . . . . . 104-0505 · Jun 26, 2026

Bill history

Newest first.

Jun 26, 2026Public Act . . . . . . . . . 104-0505House

Jun 26, 2026Effective Date June 26, 2026House

Jun 26, 2026Governor ApprovedHouse

Jun 12, 2026Sent to the GovernorHouse

May 14, 2026Passed Both HousesHouse

May 14, 2026Third Reading - Passed; 058-000-000Senate

Apr 30, 2026Placed on Calendar Order of 3rd Reading May 5, 2026Senate

Apr 30, 2026Second ReadingSenate

Show 26 earlier actions

Apr 28, 2026Placed on Calendar Order of 2nd Reading April 29, 2026Senate

Apr 28, 2026Approved for Consideration AssignmentsSenate

Apr 21, 2026Referred to AssignmentsSenate

Apr 21, 2026First ReadingSenate

Apr 21, 2026Chief Senate Sponsor Sen. David KoehlerSenate

Apr 15, 2026Placed on Calendar Order of First Reading April 16, 2026Senate

Apr 15, 2026Arrive in SenateSenate

Apr 14, 2026Third Reading - Short Debate - Passed 109-000-000House

Apr 14, 2026Placed on Calendar Order of 3rd Reading - Short DebateHouse

Apr 14, 2026House Floor Amendment No. 2 AdoptedHouse

Apr 10, 2026Held on Calendar Order of Second Reading - Short DebateHouse

Apr 10, 2026Second Reading - Short DebateHouse

Apr 8, 2026House Floor Amendment No. 2 Recommends Be Adopted Financial Institutions and Licensing Committee; 011-000-000House

Apr 7, 2026House Floor Amendment No. 2 Rules Refers to Financial Institutions and Licensing CommitteeHouse

Mar 26, 2026House Floor Amendment No. 2 Referred to Rules CommitteeHouse

Mar 26, 2026House Floor Amendment No. 2 Filed with Clerk by Rep. Jay HoffmanHouse

Mar 25, 2026Placed on Calendar 2nd Reading - Short DebateHouse

Mar 24, 2026Do Pass as Amended / Short Debate Financial Institutions and Licensing Committee; 012-000-000House

Mar 24, 2026House Committee Amendment No. 1 Adopted in Financial Institutions and Licensing Committee; by Voice VoteHouse

Mar 20, 2026House Committee Amendment No. 1 Rules Refers to Financial Institutions and Licensing CommitteeHouse

Mar 18, 2026House Committee Amendment No. 1 Referred to Rules CommitteeHouse

Mar 18, 2026House Committee Amendment No. 1 Filed with Clerk by Rep. Jay HoffmanHouse

Mar 18, 2026Assigned to Financial Institutions and Licensing CommitteeHouse

Feb 6, 2026Referred to Rules CommitteeHouse

Feb 6, 2026First ReadingHouse

Feb 2, 2026Filed with the Clerk by Rep. Jay HoffmanHouse

Recorded votes

House Financial Institutions & Licensing CommitteeMar 24, 2026 · House · 12 yea · 0 nayPassed

House Financial Institutions & Licensing CommitteeApr 8, 2026 · House · 11 yea · 0 nayPassed

House Third ReadingApr 14, 2026 · House · 109 yea · 0 nayPassed

Senate Third ReadingMay 14, 2026 · Senate · 58 yea · 0 nayPassed

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Bill history

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