92nd General Assembly
Summary of HB5839
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House Sponsors:
DART.

Senate Sponsors:
WALSH,T

Short description: 
SAV BNK & LOAN-LOAN LIMIT                                                  

Synopsis of Bill as introduced:
        Amends the Illinois Savings and Loan Act of 1985 to provide  that      
   all  earnings  received  from investments of moneys in the Savings and      
   Residential Finance Regulatory Fund shall be deposited into that  fund      
   and  used  for  the  same  purposes  as fees deposited into that fund.      
   Amends the Savings Bank Act to raise from 20% to 25% the percentage of      
   capital and general loan loss reserve that a  bank  may  loan  to  any      
   person at any one time.  Effective immediately.                             
          FISCAL NOTE (Office of Banks and Real Estate)                        
          The Office of Banks and Real Estate estimates that the reten-        
          tion of interest earnings (calculated at 6% interest rate) will      
          add $318,000 annually to the Savings and Residential Finance         
          Regulatory Fund and decrease the General Revenue Fund by an          
          equivalent amount.                                                   
 
Last action on Bill: PUBLIC ACT.............................. 92-0700

   Last action date: JUL-19-2002

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 



 Full Text  Bill Status