While the bill does not introduce major changes to policies regarding financial institutions, the amendment is intended to ensure clarity and consistency within the legal text of the Financial Institutions Code. Such amendments are crucial for maintaining the accuracy of legal references and facilitating better understanding among stakeholders, including lawmakers, regulators, and the public. However, the impact on state laws is relatively minimal, as it does not alter existing functions or responsibilities of financial institutions.
Summary
SB3064 is a legislative measure introduced in Illinois that seeks to amend the Financial Institutions Code. The bill is primarily focused on making a technical change related to the short title of the Financial Institutions Code. This kind of technical amendment is routine in legislative practice, aimed at clarifying or correcting existing statutes without making significant changes to their substance or impact.
Contention
There are no notable points of contention surrounding SB3064, as its nature is technical and non-controversial. Bills of this sort generally do not elicit significant debate or opposition since they seek to address clarity in statutory language rather than introduce substantial policy changes. Nonetheless, the introduction of technical amendments is often a point of discussion among legislators who may scrutinize the necessity and implications of any legal modifications.