Bill Status of SB 2495   94th General Assembly

Short Description:  FINANCIAL INSTITUTIONS-FEES

Senate Sponsors
Sen. Terry Link-William R. Haine-Gary Forby, John J. Millner, Wendell E. Jones, Adeline Jay Geo-Karis, Carole Pankau, Christine Radogno, Cheryl Axley, Dale A. Righter, Larry K. Bomke, Gary G. Dahl, Pamela J. Althoff, Bill Brady, John O. Jones, William E. Peterson, Dale E. Risinger, Edward Petka, J. Bradley Burzynski, David Luechtefeld-Dan Rutherford, Frank C. Watson, Chris Lauzen, Steven J. Rauschenberger, Richard J. Winkel, Jr., Dave Syverson, Dan Cronin, Todd Sieben, Kirk W. Dillard and Peter J. Roskam

House Sponsors
(Rep. Jay C. Hoffman-Robert F. Flider-Jim Durkin-Sandra M. Pihos-Dave Winters, Aaron Schock, Suzanne Bassi, Mark H. Beaubien, Jr., Patricia R. Bellock, Bob Biggins, William B. Black, Mike Bost, Dan Brady, Rich Brauer, Elizabeth Coulson, Shane Cultra, Robert W. Churchill, Tom Cross, Lee A. Daniels, Joe Dunn, Roger L. Eddy, Paul D. Froehlich, Brent Hassert, Randall M. Hultgren, Roger Jenisch, Renee Kosel, Carolyn H. Krause, David R. Leitch, Patricia Reid Lindner, Sidney H. Mathias, Michael P. McAuliffe, James H. Meyer, Bill Mitchell, Jerry L. Mitchell, Rosemary Mulligan, Ruth Munson, Richard P. Myers, JoAnn D. Osmond, Terry R. Parke, Raymond Poe, Robert W. Pritchard, Harry R. Ramey, Jr., David Reis, Chapin Rose, Jim Sacia, Angelo Saviano, Timothy L. Schmitz, Keith P. Sommer, Ron Stephens, Ed Sullivan, Jr., Art Tenhouse, Michael Tryon, Ronald A. Wait, Jim Watson, Joseph M. Lyons, Frank J. Mautino, Mike Boland, Michael K. Smith, Thomas Holbrook, Richard T. Bradley, Kevin A. McCarthy, Maria Antonia Berrios, Michelle Chavez, Susana A Mendoza, Robert Rita, John D'Amico, Robert S. Molaro, Naomi D. Jakobsson and Patrick J Verschoore)


Last Action  View All Actions

DateChamber Action
  1/9/2007SenateSession Sine Die

Statutes Amended In Order of Appearance
30 ILCS 105/6z-26
30 ILCS 105/8h
30 ILCS 105/8j
205 ILCS 5/48from Ch. 17, par. 359
205 ILCS 105/7-3from Ch. 17, par. 3307-3
205 ILCS 105/7-19.1from Ch. 17, par. 3307-19.1
205 ILCS 205/9002from Ch. 17, par. 7309-2
205 ILCS 305/12from Ch. 17, par. 4413

Synopsis As Introduced
Amends the State Finance Act. Excludes moneys received by the Department of Financial and Professional Regulation under the Illinois Credit Union Act from those moneys required to be deposited into the Financial Institution Fund. Makes certain provisions concerning transfers to the General Revenue Fund inapplicable to (i) any fund established under the Illinois Credit Union Act, the Illinois Banking Act, the Illinois Savings and Loan Act of 1985, or the Savings Bank Act and (ii) the Professions Indirect Cost Fund. Limits transfers and expenditures from those funds to specified purposes. Prohibits the allocation or transfer of additional amounts generated by certain fee increases with respect to or from the Credit Union Fund. Amends the Illinois Banking Act, the Illinois Savings and Loan Act of 1985, and the Savings Bank Act. With respect to the moneys in each of the Bank and Trust Company Fund, the Savings and Residential Finance Regulatory Fund, and the Credit Union Fund, (i) exempts those moneys from assignment or transfer except for unappropriated administrative expenses and (ii) provides that the moneys remain the property of and must be held in trust for the financial institutions from which they were collected. For FY08, requires the Commissioner of Banks and Real Estate (now, the Director of the Division of Banks and Real Estate) to adopt rules to adjust regulatory fee rates in the specified manner. Amends the Illinois Credit Union Act. Provides that the regulatory fee paid by a credit union to the Department of Financial and Professional Regulation shall be the lesser of (i) the rate pursuant to the regulatory fee schedule or (ii) a rate established in a manner proportionately consistent with the rates in the regulatory fee schedule and that would fund the actual administrative and operational expenses of the Credit Union Section. Increases rates in the regulatory fee schedule for credit unions with total assets over $5,000,000. Requires the Director of Financial and Professional Regulation to adjust the fee schedule for the next fiscal year. Provides that the fee schedule may be increased by no more than 5% annually if necessary to defray the actual (now, estimated) administrative and operational expenses of the Credit Union Section (now, the Department). Prohibits any increase in the fee schedule if the amount remaining in the Credit Union Fund at the end of the fiscal year is equal to or greater than 25% of the actual administrative and operational expenses for the preceding fiscal year. Requires the Director to base the regulatory fee for the next fiscal year on the credit union's total assets as of December 31 of the preceding calendar year. Beginning on July 1, 2005, requires a credit union to pay the regulatory fee in quarterly installments due and payable on the due date for the call report for the preceding quarter (now, a credit union is required to pay the regulatory fee in full no later than March 1 of each calendar year). Provides for a regulatory fee cap of $125,000 (now, $187,500). Effective immediately.

Senate Committee Amendment No. 1
Adds reference to:
205 ILCS 635/2-2from Ch. 17, par. 2322-2
205 ILCS 635/2-6from Ch. 17, par. 2322-6
205 ILCS 635/4-1from Ch. 17, par. 2324-1

Further amends the Illinois Banking Act, the Illinois Savings and Loan Act of 1985, the Savings Bank Act, and the Illinois Credit Union Act. Deletes a provision that makes an exception for unappropriated administrative expenses with respect to a provision exempting moneys in each of the Bank and Trust Company Fund, the Savings and Residential Finance Regulatory Fund, and the Credit Union Fund from assignment or transfer. Decreases certain regulatory fees. Amends the Residential Mortgage License Act of 1987. For FY08, requires the Commissioner of Banks and Real Estate (now, the Director of the Division of Banks and Real Estate) to adopt rules to adjust certain regulatory fee rates in the specified manner.

Senate Floor Amendment No. 2
Adds reference to:
30 ILCS 105/8h

Deletes everything after the enacting clause. Replaces with the bill as amended by Senate Amendment No. 1 with the following changes. Provides that all moneys in the Bank and Trust Company Fund, the Savings and Residential Finance Regulatory Fund, and the Credit Union Fund are exempt from assignment or transfer under any other law or executive order, other than for the purposes authorized by the Illinois State Auditing Act. Provides that regulatory fee rates may be set to cover the costs of regulatory oversight. Effective immediately.

Actions 
DateChamber Action
  1/18/2006SenateFiled with Secretary by Sen. Terry Link
  1/18/2006SenateFirst Reading
  1/18/2006SenateReferred to Rules
  1/19/2006SenateAdded as Chief Co-Sponsor Sen. William R. Haine
  1/19/2006SenateAssigned to Financial Institutions
  1/20/2006SenateAdded as Chief Co-Sponsor Sen. Gary Forby
  1/25/2006SenateAdded as Co-Sponsor Sen. Dan Rutherford
  1/31/2006SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Terry Link
  1/31/2006SenateSenate Committee Amendment No. 1 Referred to Rules
  2/1/2006SenateSenate Committee Amendment No. 1 Rules Refers to Financial Institutions
  2/2/2006SenateSenate Committee Amendment No. 1 Adopted
  2/2/2006SenateDo Pass as Amended Financial Institutions; 009-000-000
  2/2/2006SenatePlaced on Calendar Order of 2nd Reading February 7, 2006
  2/7/2006SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Terry Link
  2/7/2006SenateSenate Floor Amendment No. 2 Referred to Rules
  2/7/2006SenateSecond Reading
  2/7/2006SenatePlaced on Calendar Order of 3rd Reading February 8, 2006
  2/23/2006SenateSenate Floor Amendment No. 2 Rules Refers to Financial Institutions
  2/24/2006SenateSenate Floor Amendment No. 2 Recommend Do Adopt Financial Institutions; 008-000-000
  2/24/2006SenateAdded as Co-Sponsor Sen. John J. Millner
  2/24/2006SenateRecalled to Second Reading
  2/24/2006SenateSenate Floor Amendment No. 2 Adopted; Link
  2/24/2006SenatePlaced on Calendar Order of 3rd Reading February 27, 2006
  2/27/2006SenateAdded as Co-Sponsor Sen. Wendell E. Jones
  2/27/2006SenateAdded as Co-Sponsor Sen. Adeline Jay Geo-Karis
  2/27/2006SenateAdded as Co-Sponsor Sen. Carole Pankau
  2/27/2006SenateAdded as Co-Sponsor Sen. Christine Radogno
  2/27/2006SenateAdded as Co-Sponsor Sen. Cheryl Axley
  2/27/2006SenateAdded as Co-Sponsor Sen. Dale A. Righter
  2/27/2006SenateAdded as Co-Sponsor Sen. Larry K. Bomke
  2/27/2006SenateAdded as Co-Sponsor Sen. Gary G. Dahl
  2/27/2006SenateAdded as Co-Sponsor Sen. Pamela J. Althoff
  2/27/2006SenateAdded as Co-Sponsor Sen. Bill Brady
  2/27/2006SenateAdded as Co-Sponsor Sen. John O. Jones
  2/27/2006SenateAdded as Co-Sponsor Sen. William E. Peterson
  2/27/2006SenateAdded as Co-Sponsor Sen. Dale E. Risinger
  2/27/2006SenateAdded as Co-Sponsor Sen. Edward Petka
  2/27/2006SenateAdded as Co-Sponsor Sen. J. Bradley Burzynski
  2/27/2006SenateAdded as Co-Sponsor Sen. David Luechtefeld
  2/27/2006SenateAdded as Chief Co-Sponsor Sen. Dan Rutherford
  2/27/2006SenateAdded as Co-Sponsor Sen. Frank C. Watson
  2/27/2006SenateAdded as Co-Sponsor Sen. Chris Lauzen
  2/27/2006SenateAdded as Co-Sponsor Sen. Steven J. Rauschenberger
  2/27/2006SenateAdded as Co-Sponsor Sen. Richard J. Winkel, Jr.
  2/27/2006SenateAdded as Co-Sponsor Sen. Dave Syverson
  2/27/2006SenateAdded as Co-Sponsor Sen. Dan Cronin
  2/27/2006SenateThird Reading - Passed; 051-000-000
  2/27/2006HouseArrived in House
  2/27/2006HousePlaced on Calendar Order of First Reading
  2/27/2006HouseChief House Sponsor Rep. Jay C. Hoffman
  2/28/2006SenateAdded as Co-Sponsor Sen. Todd Sieben
  2/28/2006SenateAdded as Co-Sponsor Sen. Kirk W. Dillard
  2/28/2006SenateAdded as Co-Sponsor Sen. Peter J. Roskam
  2/28/2006HouseFirst Reading
  2/28/2006HouseReferred to Rules Committee
  3/29/2006HouseAdded Alternate Chief Co-Sponsor Rep. Robert F. Flider
  3/29/2006HouseAdded Alternate Chief Co-Sponsor Rep. Jim Durkin
  3/29/2006HouseAdded Alternate Chief Co-Sponsor Rep. Sandra M. Pihos
  3/30/2006HouseAdded Alternate Chief Co-Sponsor Rep. Dave Winters
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Aaron Schock
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Suzanne Bassi
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Mark H. Beaubien, Jr.
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Patricia R. Bellock
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Bob Biggins
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. William B. Black
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Mike Bost
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Dan Brady
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Rich Brauer
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Elizabeth Coulson
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Shane Cultra
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Robert W. Churchill
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Tom Cross
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Lee A. Daniels
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Joe Dunn
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Roger L. Eddy
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Paul D. Froehlich
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Brent Hassert
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Randall M. Hultgren
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Roger Jenisch
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Renee Kosel
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Carolyn H. Krause
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. David R. Leitch
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Patricia Reid Lindner
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Sidney H. Mathias
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Michael P. McAuliffe
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. James H. Meyer
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Bill Mitchell
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Jerry L. Mitchell
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Rosemary Mulligan
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Ruth Munson
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Richard P. Myers
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. JoAnn D. Osmond
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Terry R. Parke
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Raymond Poe
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Robert W. Pritchard
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Harry R. Ramey, Jr.
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. David Reis
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Chapin Rose
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Jim Sacia
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Angelo Saviano
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Timothy L. Schmitz
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Keith P. Sommer
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Ron Stephens
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Ed Sullivan, Jr.
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Art Tenhouse
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Michael Tryon
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Ronald A. Wait
  3/30/2006HouseAdded Alternate Co-Sponsor Rep. Jim Watson
  4/4/2006HouseAdded Alternate Co-Sponsor Rep. Joseph M. Lyons
  4/4/2006HouseAdded Alternate Co-Sponsor Rep. Frank J. Mautino
  4/4/2006HouseAdded Alternate Co-Sponsor Rep. Mike Boland
  4/4/2006HouseAdded Alternate Co-Sponsor Rep. Michael K. Smith
  4/4/2006HouseAdded Alternate Co-Sponsor Rep. Thomas Holbrook
  4/4/2006HouseAdded Alternate Co-Sponsor Rep. Richard T. Bradley
  4/4/2006HouseAdded Alternate Co-Sponsor Rep. Kevin A. McCarthy
  4/4/2006HouseAdded Alternate Co-Sponsor Rep. Maria Antonia Berrios
  4/4/2006HouseAdded Alternate Co-Sponsor Rep. Michelle Chavez
  4/4/2006HouseAdded Alternate Co-Sponsor Rep. Susana A Mendoza
  4/4/2006HouseAdded Alternate Co-Sponsor Rep. Robert Rita
  4/4/2006HouseAdded Alternate Co-Sponsor Rep. John D'Amico
  4/4/2006HouseAdded Alternate Co-Sponsor Rep. Robert S. Molaro
  4/6/2006HouseAdded Alternate Co-Sponsor Rep. Naomi D. Jakobsson
  4/18/2006HouseAdded Alternate Co-Sponsor Rep. Patrick J Verschoore
  1/9/2007SenateSession Sine Die

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