Public Act 103-0959
 
SB3235 EnrolledLRB103 37444 RTM 67566 b

    AN ACT concerning regulation.
 
    Be it enacted by the People of the State of Illinois, 
represented in the General Assembly:
 
    Section 5. The Commission on Equity and Inclusion Act is 
amended by changing Section 40-10 as follows:
 
    (30 ILCS 574/40-10)
    Sec. 40-10. Powers and duties. In addition to the other 
powers and duties which may be prescribed in this Act or 
elsewhere, the Commission shall have the following powers and 
duties: 
        (1) The Commission shall have a role in all State and 
    university procurement by facilitating and streamlining 
    communications between the Business Enterprise Council for 
    Minorities, Women, and Persons with Disabilities, the 
    purchasing entities, the Chief Procurement Officers, and 
    others. 
        (2) The Commission may create a scoring evaluation for 
    State agency directors, public university presidents and 
    chancellors, and public community college presidents. The 
    scoring shall be based on the following 3 principles: (i) 
    increasing capacity; (ii) growing revenue; and (iii) 
    enhancing credentials. These principles should be the 
    foundation of the agency compliance plan required under 
    Section 6 of the Business Enterprise for Minorities, 
    Women, and Persons with Disabilities Act.
        (3) The Commission shall exercise the authority and 
    duties provided to it under Section 5-7 of the Illinois 
    Procurement Code. 
        (4) The Commission, working with State agencies, shall 
    provide support for diversity in State hiring. 
        (5) The Commission shall oversee the implementation of 
    diversity training of the State workforce. 
        (6) Each January, and as otherwise frequently as may 
    be deemed necessary and appropriate by the Commission, the 
    Commission shall propose and submit to the Governor and 
    the General Assembly legislative changes to increase 
    inclusion and diversity in State government. 
        (7) The Commission shall have oversight over the 
    following entities: 
            (A) the Illinois African-American Family 
        Commission; 
            (B) the Illinois Latino Family Commission; 
            (C) the Asian American Family Commission; 
            (D) the Illinois Muslim American Advisory Council; 
            (E) the Illinois African-American Fair Contracting 
        Commission created under Executive Order 2018-07; and 
            (F) the Business Enterprise Council for 
        Minorities, Women, and Persons with Disabilities. 
        (8) The Commission shall adopt any rules necessary for 
    the implementation and administration of the requirements 
    of this Act. 
        (9) The Commission shall exercise the authority and 
    duties provided to it under Section 45-57 of the Illinois 
    Procurement Code. 
        (10) The Commission is responsible for completing 
    studies as required by Section 35-15 of the Illinois 
    Community Reinvestment Act. 
(Source: P.A. 101-657, eff. 1-1-22; 102-29, eff. 6-25-21; 
102-671, eff. 11-30-21.)
 
    Section 10. The Illinois Community Reinvestment Act is 
amended by changing Sections 35-5 and 35-15 as follows:
 
    (205 ILCS 735/35-5)
    Sec. 35-5. Definitions. As used in this Act: 
    "Commission" means the Commission on Equity and Inclusion. 
    "Covered financial institution" means a bank chartered 
under the Illinois Banking Act, a savings bank chartered under 
the Illinois Savings Bank Act, a credit union incorporated 
under the Illinois Credit Union Act, an entity licensed under 
the Illinois Residential Mortgage License Act of 1987 which 
lent or originated 50 or more residential mortgage loans in 
the previous calendar year, and any other financial 
institution under the jurisdiction of the Department as 
designated by rule by the Secretary.
    "Department" means the Department of Financial and 
Professional Regulation. 
    "Division of Banking" means the Division of Banking within 
the Department. 
    "Division of Financial Institutions" means the Division of 
Financial Institutions within the Department. 
    "Secretary" means the Secretary of Financial and 
Professional Regulation, or his or her designee, including the 
Director of the Division of Banking or the Director of the 
Division of Financial Institutions. 
(Source: P.A. 101-657, eff. 3-23-21.)
 
    (205 ILCS 735/35-15)
    Sec. 35-15. Examinations. 
    (a) The Secretary shall have the authority to examine each 
covered financial institution for compliance with this Act, in 
consultation with State and federal regulators with an 
appropriate regulatory interest, for and in compliance with 
applicable State and federal fair lending laws, including, but 
not limited to, the Illinois Human Rights Act, the federal 
Equal Credit Opportunity Act, and the federal Home Mortgage 
Disclosure Act, as often as the Secretary deems necessary and 
proper. The Secretary may adopt rules with respect to the 
frequency and manner of examination including the imposition 
of examination fees. The Secretary shall appoint a suitable 
person to perform such examination. The Secretary and his or 
her appointees may examine the entire books, records, 
documents, and operations of each covered financial 
institution, its parent company, and its subsidiaries, 
affiliates, or agents, and may examine any of the covered 
financial institution's, its parent company's or its 
subsidiaries', affiliates', or agents' officers, directors, 
employees, and agents under oath. Any document or record 
prepared or obtained in connection with or relating to any 
such examination, and any record prepared or obtained by the 
Secretary to the extent that the record summarizes or contains 
information derived from any document or record described in 
this subsection (a), shall not be disclosed to the public 
unless otherwise provided by this Act.
    (b) Upon the completion of the examination of a covered 
financial institution under this Section, the Secretary shall 
prepare a written evaluation of the covered financial 
institution's record of performance relative to this Act. Each 
written evaluation required under this subsection (b) shall 
have a public section, which shall include no less information 
than would be disclosed in a written evaluation under the 
federal Community Reinvestment Act, and a confidential 
section. The Secretary shall give the covered financial 
institution an opportunity to comment on the evaluation, and 
then shall make the public section of the written evaluation 
open to public inspection upon request. The written evaluation 
shall include, but is not limited to: 
        (1) the assessment factors utilized to determine the 
    covered financial institution's descriptive rating; 
        (2) the Secretary's conclusions with respect to each 
    such assessment factor; 
        (3) a discussion of the facts supporting such 
    conclusions; 
        (4) the covered financial institution's descriptive 
    rating and the basis therefor; and 
        (5) a summary of public comments. 
    (c) Based upon the examination, the covered financial 
institution shall be assigned one of the following ratings: 
        (1) outstanding record of performance in meeting its 
    community financial services needs; 
        (2) satisfactory record of performance in meeting its 
    community financial services needs; 
        (3) needs to improve record of performance in meeting 
    its community services needs; or 
        (4) substantial noncompliance in meeting its community 
    financial services needs. 
    (d) Notwithstanding the foregoing provisions of this 
Section, the Secretary may establish an alternative 
examination procedure for any covered financial institution, 
which, as of the most recent examination, has been assigned a 
rating of outstanding or satisfactory for its record of 
performance in meeting its community financial services needs. 
    (e) The Commission shall conduct studies to:
        (1) identify and delineate geographies in Illinois 
    exhibiting significant disparities by protected classes as 
    identified by the Human Rights Act with respect to:
            (A) access to financial products or services, 
        including, but not limited to, physical branches of 
        covered financial institutions; and
            (B) lending and investments by covered financial 
        institutions;
        (2) identify policies, procedures, patterns, or 
    practices that have or may have a disparate impact or 
    discriminatory effect; and
        (3) identify opportunities for establishing and 
    growing Banking Development Districts in geographic 
    locations where there are the greatest underbanked and 
    unbanked populations and opportunities for partnerships 
    between depository institutions and local communities. 
    (f) The Secretary may implement the findings and other 
results from such studies into the examination process through 
rules adopted in accordance with the Illinois Administrative 
Procedure Act.
    (g) Any costs incurred by the Commission in conducting 
such studies shall be subject to appropriation and not funded 
by the examination fees paid by covered financial institutions 
under subsection (a). 
    (h) The Commission shall provide reports of its findings 
and shall furnish copies of the reports to the General 
Assembly and the Secretary.
    (i) The results of every study performed under this Act 
shall be publicly available on the websites of the Commission 
and the Department.
    (j) The Commission may contract with a qualified person or 
entity to design and conduct the studies authorized under 
subsection (e). 
(Source: P.A. 101-657, eff. 3-23-21.)
 
    Section 99. Effective date. This Act takes effect January 
1, 2025.