The impact of HB2115 appears to be limited and focused primarily on regulatory clarity rather than introducing significant changes to state laws governing banking practices. By amending the short title of an existing act, the bill potentially facilitates smoother referencing and interpretation of the law without reshaping its core provisions. This kind of amendment is common in legislative processes and usually serves administrative purposes rather than altering substantive policy.
Summary
House Bill 2115 is an amendment to the Illinois Banking Act. The primary purpose of this bill is to introduce a technical change related to the short title of the Illinois Banking Act. This minor alteration reflects the need for legislative clarity or alignment with current regulatory language, although the specifics of the change are not detailed in the provided summary. Thus, the bill does not aim to alter existing banking regulations but rather seeks to refine legislative language to enhance understanding and compliance.
Contention
Given the technical nature of the amendment proposed by HB2115, it is not anticipated that the bill will face substantial contention or debate among legislators. Technical amendments such as this typically do not spark significant opposition, as they do not change the underlying regulatory framework. Nevertheless, it is critical for such changes to be clearly communicated to all stakeholders involved in the banking sector to ensure understanding and compliance with the updated legal terminology.