Illinois General Assembly - Full Text of SB1254
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Full Text of SB1254  100th General Assembly

SB1254enr 100TH GENERAL ASSEMBLY

  
  
  

 


 
SB1254 EnrolledLRB100 05764 SMS 15787 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 Savings Bank Act is amended by changing
5Section 9002.5 as follows:
 
6    (205 ILCS 205/9002.5)
7    Sec. 9002.5. Regulatory fees.
8    (a) Each For the fiscal year beginning July 1, 2007 and
9every year thereafter, each savings bank and each service
10corporation operating under this Act shall pay in quarterly
11installments equal to one-fourth of a fixed fee of $520, plus a
12regulatory variable fee based on the total assets of the
13savings bank or service corporation, as shown in the quarterly
14report of condition, at the following rates:
15        19.295 cents per $1,000 of the first $5,000,000 of
16    total assets;
17        18.16 cents per $1,000 of the next $20,000,000 of total
18    assets;
19        15.89 cents per $1,000 of the next $75,000,000 of total
20    assets;
21        10.7825 cents per $1,000 of the next $400,000,000 of
22    total assets;
23        8.5125 cents per $1,000 of the next $500,000,000 of

 

 

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1    total assets;
2        6.2425 cents per $1,000 of the next $19,000,000,000 of
3    total assets;
4        2.27 cents per $1,000 of the next $30,000,000,000 of
5    total assets;
6        1.135 cents per $1,000 of the next $50,000,000,000 of
7    total assets; and
8        0.5675 cents per $1,000 of all assets in excess of
9    $100,000,000,000 of the savings bank.
10        24.97˘ per $1,000 of the first $2,000,000 of total
11    assets;
12        22.70˘ per $1,000 of the next $3,000,000 of total
13    assets;
14        20.43˘ per $1,000 of the next $5,000,000 of total
15    assets;
16        17.025˘ per $1,000 of the next $15,000,000 of total
17    assets;
18        14.755˘ per $1,000 of the next $25,000,000 of total
19    assets;
20        12.485˘ per $1,000 of the next $50,000,000 of total
21    assets;
22        10.215˘ per $1,000 of the next $400,000,000 of total
23    assets;
24        6.81˘ per $1,000 of the next $500,000,000 of total
25    assets; and
26        4.54˘ per $1,000 of all total assets in excess of

 

 

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1    $1,000,000,000 of such savings bank or service
2    corporation.
3    As used in this Section, "quarterly report of condition"
4means the Report of Condition and Income (Call Report), which
5the Secretary requires.
6    (a-5) For any savings bank or service corporation operating
7under this Act that is examined by the Department between
8January 1, 2017 and the effective date of this amendatory Act
9of the 100th General Assembly, a regulatory fee shall not be
10due or paid to the Department for the first billing of the
11regulatory fee immediately following the effective date of this
12amendatory Act of the 100th General Assembly. Any savings bank
13or service corporation subject to this subsection shall pay the
14regulatory fee as prescribed in subsection (a) beginning with
15the second billing of the regulatory fee by the Department
16following the effective date of this amendatory Act of the
17100th General Assembly.
18    (b) (Blank).
19    (c) (Blank). The Secretary shall receive and there shall be
20paid to the Secretary by each savings bank and each service
21corporation a fee of $520 for each approved branch office or
22facility office established under the Illinois Administrative
23Code. The determination of the fees shall be made annually as
24of the close of business of the prior calendar year ended
25December 31.
26    (d) The Secretary shall receive for each fiscal year,

 

 

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1commencing with the fiscal year ending June 30, 2014, a
2contingent fee equal to the lesser of the aggregate of the fees
3paid by all savings banks under subsection subsections (a),
4(b), and (c) of this Section for that year, or the amount, if
5any, whereby the aggregate of the administration expenses, as
6defined in subsection (c) of Section 9002.1 of this Act, for
7that fiscal year exceeds the sum of the aggregate of the fees
8payable by all savings banks for that year under subsection
9subsections (a), (b), and (c) of this Section, plus any amounts
10transferred into the Savings Bank Regulatory Fund from the
11State Pensions Fund for that year, plus all other amounts
12collected by the Secretary for that year under any other
13provision of this Act. The aggregate amount of the contingent
14fee thus arrived at for any fiscal year shall be apportioned
15amongst, assessed upon, and paid by the savings banks,
16respectively, in the same proportion that the fee of each under
17subsection subsections (a), (b), and (c) of this Section,
18respectively, for that year bears to the aggregate for that
19year of the fees collected under subsection subsections (a),
20(b), and (c) of this Section. The aggregate amount of the
21contingent fee, and the portion thereof to be assessed upon
22each savings bank, respectively, shall be determined by the
23Secretary and shall be paid by each, respectively, within 120
24days of the close of the period for which the contingent fee is
25computed and is payable, and the Secretary shall give 20 days'
26days advance notice of the amount of the contingent fee payable

 

 

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1by the savings bank and of the date fixed by the Secretary for
2payment of the fee.
3(Source: P.A. 98-1081, eff. 1-1-15; 99-39, eff. 1-1-16; revised
49-14-16.)
 
5    Section 99. Effective date. This Act takes effect upon
6becoming law.