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| | SB1254 Enrolled | | LRB100 05764 SMS 15787 b |
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1 | | AN ACT concerning regulation.
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2 | | Be it enacted by the People of the State of Illinois,
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3 | | represented in the General Assembly:
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4 | | Section 5. The Savings Bank Act is amended by changing |
5 | | Section 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 |
9 | | every year thereafter , each savings bank and each service |
10 | | corporation operating under this Act shall pay in quarterly |
11 | | installments equal to one-fourth of a fixed fee of $520, plus a |
12 | | regulatory variable fee based on the total assets of the |
13 | | savings bank or service corporation, as shown in the quarterly |
14 | | report 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
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18 | | assets; |
19 | | 15.89 cents per $1,000 of the next $75,000,000 of total
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20 | | assets; |
21 | | 10.7825 cents per $1,000 of the next $400,000,000 of
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22 | | total assets; |
23 | | 8.5125 cents per $1,000 of the next $500,000,000 of |
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| | SB1254 Enrolled | - 2 - | LRB100 05764 SMS 15787 b |
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1 | | total assets; |
2 | | 6.2425 cents per $1,000 of the next $19,000,000,000 of
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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
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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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| | SB1254 Enrolled | - 3 - | LRB100 05764 SMS 15787 b |
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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" |
4 | | means the Report of Condition and Income (Call Report), which |
5 | | the Secretary requires. |
6 | | (a-5) For any savings bank or service corporation operating
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7 | | under this Act that is examined by the Department between |
8 | | January 1,
2017 and the effective date of this amendatory Act |
9 | | of the 100th
General Assembly, a regulatory fee
shall not be |
10 | | due or paid to the Department for the first
billing of the |
11 | | regulatory fee immediately following the
effective date of this |
12 | | amendatory Act of the 100th General
Assembly. Any savings bank |
13 | | or service corporation subject to this subsection shall pay
the |
14 | | regulatory fee as prescribed in subsection (a) beginning
with |
15 | | the second billing of the regulatory fee by the Department
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16 | | following the effective date of this amendatory Act of the |
17 | | 100th
General Assembly. |
18 | | (b) (Blank). |
19 | | (c) (Blank). The Secretary shall receive and there shall be |
20 | | paid to the Secretary by each savings bank and each service |
21 | | corporation a fee of $520 for each approved branch office or |
22 | | facility office established under the Illinois Administrative |
23 | | Code. The determination of the fees shall be made annually as |
24 | | of the close of business of the prior calendar year ended |
25 | | December 31.
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26 | | (d) The Secretary shall receive for each fiscal year, |
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| | SB1254 Enrolled | - 4 - | LRB100 05764 SMS 15787 b |
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1 | | commencing with the fiscal year ending June 30, 2014, a |
2 | | contingent fee equal to the lesser of the aggregate of the fees |
3 | | paid by all savings banks under subsection subsections (a) , |
4 | | (b), and (c) of this Section for that year, or the amount, if |
5 | | any, whereby the aggregate of the administration expenses, as |
6 | | defined in subsection (c) of Section 9002.1 of this Act, for |
7 | | that fiscal year exceeds the sum of the aggregate of the fees |
8 | | payable by all savings banks for that year under subsection |
9 | | subsections (a) , (b), and (c) of this Section, plus any amounts |
10 | | transferred into the Savings Bank Regulatory Fund from the |
11 | | State Pensions Fund for that year, plus all other amounts |
12 | | collected by the Secretary for that year under any other |
13 | | provision of this Act. The aggregate amount of the contingent |
14 | | fee thus arrived at for any fiscal year shall be apportioned |
15 | | amongst, assessed upon, and paid by the savings banks, |
16 | | respectively, in the same proportion that the fee of each under |
17 | | subsection subsections (a) , (b), and (c) of this Section, |
18 | | respectively, for that year bears to the aggregate for that |
19 | | year of the fees collected under subsection subsections (a) , |
20 | | (b), and (c) of this Section. The aggregate amount of the |
21 | | contingent fee, and the portion thereof to be assessed upon |
22 | | each savings bank, respectively, shall be determined by the |
23 | | Secretary and shall be paid by each, respectively, within 120 |
24 | | days of the close of the period for which the contingent fee is |
25 | | computed and is payable, and the Secretary shall give 20 days' |
26 | | days advance notice of the amount of the contingent fee payable |