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Public Act 100-0232
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| SB1254 Enrolled | LRB100 05764 SMS 15787 b |
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AN ACT concerning regulation.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Savings Bank Act is amended by changing |
Section 9002.5 as follows:
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(205 ILCS 205/9002.5) |
Sec. 9002.5. Regulatory fees. |
(a) Each For the fiscal year beginning July 1, 2007 and |
every year thereafter, each savings bank and each service |
corporation operating under this Act shall pay in quarterly |
installments equal to one-fourth of a fixed fee of $520, plus a |
regulatory variable fee based on the total assets of the |
savings bank or service corporation, as shown in the quarterly |
report of condition, at the following rates: |
19.295 cents per $1,000 of the first $5,000,000 of |
total assets; |
18.16 cents per $1,000 of the next $20,000,000 of total
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assets; |
15.89 cents per $1,000 of the next $75,000,000 of total
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assets; |
10.7825 cents per $1,000 of the next $400,000,000 of
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total assets; |
8.5125 cents per $1,000 of the next $500,000,000 of |
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total assets; |
6.2425 cents per $1,000 of the next $19,000,000,000 of
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total assets; |
2.27 cents per $1,000 of the next $30,000,000,000 of |
total assets; |
1.135 cents per $1,000 of the next $50,000,000,000 of
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total assets; and |
0.5675 cents per $1,000 of all assets in excess of |
$100,000,000,000 of the savings bank. |
24.97¢ per $1,000 of the first $2,000,000 of total |
assets; |
22.70¢ per $1,000 of the next $3,000,000 of total |
assets; |
20.43¢ per $1,000 of the next $5,000,000 of total |
assets; |
17.025¢ per $1,000 of the next $15,000,000 of total |
assets; |
14.755¢ per $1,000 of the next $25,000,000 of total |
assets; |
12.485¢ per $1,000 of the next $50,000,000 of total |
assets; |
10.215¢ per $1,000 of the next $400,000,000 of total |
assets; |
6.81¢ per $1,000 of the next $500,000,000 of total |
assets; and |
4.54¢ per $1,000 of all total assets in excess of |
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$1,000,000,000 of such savings bank or service |
corporation. |
As used in this Section, "quarterly report of condition" |
means the Report of Condition and Income (Call Report), which |
the Secretary requires. |
(a-5) For any savings bank or service corporation operating
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under this Act that is examined by the Department between |
January 1,
2017 and the effective date of this amendatory Act |
of the 100th
General Assembly, a regulatory fee
shall not be |
due or paid to the Department for the first
billing of the |
regulatory fee immediately following the
effective date of this |
amendatory Act of the 100th General
Assembly. Any savings bank |
or service corporation subject to this subsection shall pay
the |
regulatory fee as prescribed in subsection (a) beginning
with |
the second billing of the regulatory fee by the Department
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following the effective date of this amendatory Act of the |
100th
General Assembly. |
(b) (Blank). |
(c) (Blank). The Secretary shall receive and there shall be |
paid to the Secretary by each savings bank and each service |
corporation a fee of $520 for each approved branch office or |
facility office established under the Illinois Administrative |
Code. The determination of the fees shall be made annually as |
of the close of business of the prior calendar year ended |
December 31.
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(d) The Secretary shall receive for each fiscal year, |
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commencing with the fiscal year ending June 30, 2014, a |
contingent fee equal to the lesser of the aggregate of the fees |
paid by all savings banks under subsection subsections (a), |
(b), and (c) of this Section for that year, or the amount, if |
any, whereby the aggregate of the administration expenses, as |
defined in subsection (c) of Section 9002.1 of this Act, for |
that fiscal year exceeds the sum of the aggregate of the fees |
payable by all savings banks for that year under subsection |
subsections (a), (b), and (c) of this Section, plus any amounts |
transferred into the Savings Bank Regulatory Fund from the |
State Pensions Fund for that year, plus all other amounts |
collected by the Secretary for that year under any other |
provision of this Act. The aggregate amount of the contingent |
fee thus arrived at for any fiscal year shall be apportioned |
amongst, assessed upon, and paid by the savings banks, |
respectively, in the same proportion that the fee of each under |
subsection subsections (a), (b), and (c) of this Section, |
respectively, for that year bears to the aggregate for that |
year of the fees collected under subsection subsections (a), |
(b), and (c) of this Section. The aggregate amount of the |
contingent fee, and the portion thereof to be assessed upon |
each savings bank, respectively, shall be determined by the |
Secretary and shall be paid by each, respectively, within 120 |
days of the close of the period for which the contingent fee is |
computed and is payable, and the Secretary shall give 20 days' |
days advance notice of the amount of the contingent fee payable |