The proposed amendment to the Illinois Banking Act does not appear to have significant implications for state laws affecting banking institutions or the regulatory environment as a whole. As a technical adjustment, its primary function is to ensure that the language used in legal texts is precise and up-to-date. This kind of amendment is typical within legislative processes to maintain the integrity and clarity of legal documents.
Summary
SB0123 is a legislative bill introduced in the Illinois General Assembly that seeks to amend the Illinois Banking Act. The bill primarily focuses on making a technical change regarding the section that defines the short title of the act. This change is described as a routine adjustment, usually intended to clarify or correct language within existing statutes without altering the substantive provisions or intent of the law.
Contention
Given the nature of SB0123 as a technical correction, it is unlikely to generate strong debate or contention among legislators. However, it is important to note that even technical changes can sometimes lead to discussion regarding transparency and the need for ongoing updates to legislation to reflect current practices in the banking sector. Any opposition or support may stem more from broader discussions about banking regulations rather than the content of the bill itself.