CREDIT UNION ACT-FUND INVEST House SponsorsRep. Michael K. Smith-Aaron Schock-Thomas Holbrook-Patrick J Verschoore, Kurt M. Granberg, Joseph M. Lyons and Monique D. Davis Senate Sponsors(Sen. David Koehler-Michael Noland) 8/13/2007HousePublic Act . . . . . . . . . 95-0124 205 ILCS 305/59from Ch. 17, par. 4460 Amends the Illinois Credit Union Act. Provides that a credit union investing to fund an employee benefit plan obligation is not subject to the investment limitations of the Illinois Credit Union Act and may purchase an investment that would otherwise be impermissible if the investment is directly related to the credit union's obligation under the employee benefit plan and the credit union holds the investment only for so long as it has an actual or potential obligation under the employee benefit plan. Effective immediately. 2/5/2007HouseFiled with the Clerk by Rep. Michael K. Smith 2/5/2007HouseFirst Reading 2/5/2007HouseReferred to Rules Committee 2/7/2007HouseAssigned to Financial Institutions Committee 2/16/2007HouseAdded Co-Sponsor Rep. Kurt M. Granberg 2/21/2007HouseDo Pass / Short Debate Financial Institutions Committee; 020-000-000 2/22/2007HousePlaced on Calendar 2nd Reading - Short Debate 2/23/2007HouseSecond Reading - Short Debate 2/23/2007HousePlaced on Calendar Order of 3rd Reading - Short Debate 2/23/2007HouseAdded Chief Co-Sponsor Rep. Aaron Schock 2/23/2007HouseAdded Chief Co-Sponsor Rep. Thomas Holbrook 2/23/2007HouseAdded Chief Co-Sponsor Rep. Patrick J Verschoore 3/1/2007HouseThird Reading - Short Debate - Passed 114-000-000 3/1/2007HouseAdded Co-Sponsor Rep. Joseph M. Lyons 3/1/2007HouseAdded Co-Sponsor Rep. Monique D. Davis 3/6/2007SenateArrive in Senate 3/6/2007SenatePlaced on Calendar Order of First Reading 3/6/2007SenateChief Senate Sponsor Sen. David Koehler 3/6/2007SenateFirst Reading 3/6/2007SenateReferred to Rules 3/30/2007SenateAssigned to Financial Institutions 4/19/2007SenateAdded as Alternate Chief Co-Sponsor Sen. Michael Noland 4/20/2007SenateDo Pass Financial Institutions; 007-000-000 4/20/2007SenatePlaced on Calendar Order of 2nd Reading April 24, 2007 5/3/2007SenateSecond Reading 5/3/2007SenatePlaced on Calendar Order of 3rd Reading May 8, 2007 5/16/2007SenateThird Reading - Passed; 058-000-000 5/16/2007HousePassed Both Houses 6/14/2007HouseSent to the Governor 8/13/2007HouseGovernor Approved 8/13/2007HouseEffective Date August 13, 2007 8/13/2007HousePublic Act . . . . . . . . . 95-0124