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| | 100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB3076 Introduced , by Rep. Elizabeth Hernandez SYNOPSIS AS INTRODUCED:
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Amends the Electronic Fund Transfer Act. Provides that for every electronic fund transfer performed in Illinois, financial institutions shall remit $0.01 to the Division of Banking of the Department of Financial and Professional Regulation for deposit into the Illinois DREAM Fund. Effective immediately.
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| | | FISCAL NOTE ACT MAY APPLY | |
| | A BILL FOR |
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| | HB3076 | | LRB100 09168 SMS 19323 b |
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| 1 | | AN ACT concerning regulation.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Electronic Fund Transfer Act is amended by |
| 5 | | adding Section 41 as follows:
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| 6 | | (205 ILCS 616/41 new) |
| 7 | | Sec. 41. Remittance to Illinois DREAM Fund Act. For every |
| 8 | | electronic fund transfer performed in Illinois, financial |
| 9 | | institutions shall remit $0.01 to the Division of Banking of |
| 10 | | the Department of Financial and Professional Regulation for |
| 11 | | deposit into the Illinois DREAM Fund established under Section |
| 12 | | 67 of the Higher Education Student Assistance Act.
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| 13 | | Section 99. Effective date. This Act takes effect upon |
| 14 | | becoming law.
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