98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB5324

 

Introduced , by Rep. Elizabeth Hernandez

 

SYNOPSIS AS INTRODUCED:
 
205 ILCS 616/41 new

    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.


LRB098 17371 ZMM 52468 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB5324LRB098 17371 ZMM 52468 b

1    AN ACT concerning regulation.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Electronic Fund Transfer Act is amended by
5adding Section 41 as follows:
 
6    (205 ILCS 616/41 new)
7    Sec. 41. Remittance to Illinois DREAM Fund Act. For every
8electronic fund transfer performed in Illinois, financial
9institutions shall remit $0.01 to the Division of Banking of
10the Department of Financial and Professional Regulation for
11deposit into the Illinois DREAM Fund established under Section
1267 of the Higher Education Student Assistance Act.
 
13    Section 99. Effective date. This Act takes effect upon
14becoming law.