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HB4415

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FINANCIAL EMPOWERMENT

What this bill does

Creates the Financial Empowerment Commission Act. Provides for the establishment of the Financial Empowerment Commission. Provides that the Commission shall support the Board of Higher Education and organizations that provide financial educational programming through various capacity building initiatives. Provides that the Commission, in consultation with the Governor and appropriate State agencies, shall design a database platform to communicate with and connect existing financial literacy resources, programs, products and services in the State. Provides that the Commission shall identify, document, and track key metrics for young adults' financial health and well-being over time. Further provides that the Commission shall submit an annual report to the General Assembly, which shall detail the progress of financial empowerment efforts and the Commission's achievement of its main objectives. Provides that the Commission may collaborate with State and federal agencies, local governments, research and educational institutions, community and nonprofit organizations, financial institutions, the 3 main credit bureaus, service providers, and philanthropic organizations to ensure a coordinated, comprehensive approach with equitable access to resources and programming. Provides that the Commission may issue advisory material to stakeholders across Illinois to ensure monitoring, compliance, and adherence to consumer protection standards and may issue a supplementary report to the Governor and associated State agencies on best practices concerning consumer protections. Provides that the Commission may make policy recommendations to the General Assembly to enhance Illinois students' financial literacy and use of new and existing resources and may recommend that education programs be supported by economic policies dismantling structural issues, such as income disparities and financial barriers to health care.

Sponsor: Debbie Meyers-Martin Chamber: House Introduced: 2026-01-13
Stuck
P(Advance)
7.5%
Chance it ever reaches a milestone (committee, floor, etc.). Not “next step.”
P(Law)
0.0%
Chance it becomes law given where it is now (stage, momentum).
Confidence: 92% FORECAST

Calculating prediction drivers...

Pipeline Progress

Current stage: In Committee · Last action 85 days ago · SLOW

How does a bill become law in Illinois?
  1. Introduction of Bill

    A member of the Senate or the House introduces a bill, which is assigned a unique identifying number (e.g., "H.B. ___" for House bills and "S.B. ___" for Senate bills). If not enacted, it must be reintroduced in the next General Assembly with a new number.

  2. Committee Work — Hearings

    The bill goes to the appropriate committee, which holds hearings to gather expert opinions and determine the need for the legislation.

  3. Committee Work — Markup, Amendments, Report

    The committee may make amendments to the bill. If approved, a committee report endorsing the bill is issued.

  4. Floor Debate

    The bill is debated and can be further amended. The debate transcripts are accessible online for public viewing.

  5. Passage and Consideration in Second Chamber

    If the bill passes in the first chamber, it moves to the second chamber for a similar review process. If both chambers approve, it goes to the governor.

  6. Gubernatorial Action

    The governor can sign the bill into law, veto it, or take no action (resulting in an automatic law after 60 days). The type of veto can be total or amendatory. Once signed, the bill becomes a Public Act and is assigned a Public Act number.

Sponsor Context

Hearings

This bill has not been scheduled for a committee hearing.

Action History

3 actions recorded. Last action: 2026-01-14 — Referred toRules Committee. Each action's meaning and outcome signal are classified automatically.

2026-01-13 Introduction & Filing
Filed with the Clerk byRep. Debbie Meyers-Martin House Rule 6(b)
Bill officially submitted to the House Clerk during the session.
2026-01-14 Introduction & Filing
First Reading Senate Rule 5-1(d)/5-2; House Rule 37(d)/38
Formal introduction — title read into the official record. Required procedural step; bill now exists in the system.
2026-01-14 Committee Assignment
Referred toRules Committee Senate Rule 3-8(a); House Rule 18(a)
Sent to a committee (usually Rules in the House, Assignments in the Senate). The gatekeeping step — Rules/Assignments decides which substantive committee hears the bill.

All actions (table)

Date Chamber Action Category Signal
2026-01-13 House Filed with the Clerk byRep. Debbie Meyers-Martin House Rule 6(b) Introduction & Filing —
2026-01-14 House First Reading Senate Rule 5-1(d)/5-2; House Rule 37(d)/38 Introduction & Filing —
2026-01-14 House Referred toRules Committee Senate Rule 3-8(a); House Rule 18(a) Committee Assignment —