Illinois HB1700 amends the Illinois Community Reinvestment Act to require financial institutions to have a satisfactory or outstanding rating to.
Illinois HB1700 amends the Illinois Community Reinvestment Act, effective January 1, 2026. It mandates that financial institutions must have a current rating of satisfactory or outstanding under the Illinois Community Reinvestment Act to receive state funds. Public agencies and the State Treasurer must consider the financial institution's commitment to its community when deciding where to deposit public funds. The bill also allows preference for institutions with outstanding ratings under the federal Community Reinvestment Act of 1977 and the Illinois Community Reinvestment Act.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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