Illinois General Assembly - Full Text of SB2857
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Full Text of SB2857  100th General Assembly




SB2857 EnrolledLRB100 17746 RJF 32919 b

1    AN ACT concerning State government.
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4    Section 5. The State Treasurer Act is amended by changing
5Section 20 as follows:
6    (15 ILCS 505/20)
7    Sec. 20. State Treasurer administrative charge. The State
8Treasurer may retain an administrative charge for both the
9costs of services associated with the deposit of moneys that
10are remitted directly to the State Treasurer and the investment
11or safekeeping of funds by the State Treasurer. The
12administrative charges charge collected under this Section
13shall be deposited into the State Treasurer's Administrative
14Fund. The amount of the administrative charges charge may be
15determined by the State Treasurer. Administrative charges from
16the deposit of moneys remitted directly to the State Treasurer
17and shall not exceed 2% of the amount deposited. Administrative
18charges from the investment or safekeeping of funds by the
19State Treasurer shall be charged no more than monthly and the
20total amount charged per fiscal year shall not exceed
21$12,000,000 plus any amounts required as employer
22contributions under Section 14-131 of the Illinois Pension Code
23and Section 10 of the State Employees Group Insurance Act of



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2    Administrative charges for the deposit of moneys This
3Section shall apply to fines, fees, or other amounts remitted
4directly to the State Treasurer by circuit clerks, county
5clerks, and other entities for deposit into a fund in the State
6treasury. Administrative charges for the deposit of moneys do
7This Section does not apply to amounts remitted by State
8agencies or certified collection specialists as defined in 74
9Ill. Admin. Code 1200.50. Administrative charges for the
10deposit of moneys This Section shall apply only to any form of
11fines, fees, or other collections created on or after August
1215, 2014 (the effective date of Public Act 98-965) this
13amendatory Act of the 98th General Assembly.
14    Moneys in the State Treasurer's Administrative Fund are
15subject to appropriation by the General Assembly.
16(Source: P.A. 98-965, eff. 8-15-14.)
17    Section 10. The State Treasurer's Bank Services Trust Fund
18Act is amended by changing Section 10 as follows:
19    (30 ILCS 212/10)
20    Sec. 10. Creation of Fund. There is hereby created in the
21State treasury a special fund to be known as the State
22Treasurer's Bank Services Trust Fund. Moneys deposited in the
23Fund shall be used by the State Treasurer to pay the cost of
24the following banking services: processing of payments of



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1taxes, fees, and other moneys due the State; transactional,
2technological, consultant, and legal service charges, and
3other operational expenses of the State Treasurer's Office
4related to the investment or safekeeping of funds under the
5Treasurer's control; and the cost of paying bondholders and
6legal services under the State's general obligation bond
8(Source: P.A. 98-909, eff. 8-15-14.)
9    Section 99. Effective date. This Act takes effect upon
10becoming law.