SB2101ham002 96TH GENERAL ASSEMBLY

Rep. Frank J. Mautino

Filed: 5/25/2010

09600SB2101ham002 LRB096 11443 RCE 41746 a

AMENDMENT TO SENATE BILL 2101

AMENDMENT NO. ______. Amend Senate Bill 2101, AS AMENDED, by replacing everything after the enacting clause with the following:

"Section 5. The State Finance Act is amended by adding Section 6z-11.5 as follows:

(30 ILCS 105/6z-11.5 new)

Sec. 6z-11.5. Transfers to Illinois Department of Financial and Professional Regulation funds. On and after July 1, 2010 and through June 30, 2011, when any fund supporting the oversight or regulation of an industry or profession that is subject to the authority of the Illinois Department of Financial and Professional Regulation has insufficient cash from which the State Comptroller may make expenditures properly supported by appropriations from the fund, then the Illinois Department of Financial and Professional Regulation may transfer moneys on deposit in an account maintained in a commercial bank or corporate fiduciary in the name of the Illinois Bank Examiners' Education Foundation to the Illinois Department of Financial and Professional Regulation fund with insufficient cash, in such amount as is necessary to satisfy outstanding expenditure obligations on a timely basis, subject to the provisions of the State Prompt Payment Act. The aggregate amount of funds transferred from an account maintained in a commercial bank or corporate fiduciary in the name of the Illinois Bank Examiners' Education Foundation to the Illinois Department of Financial and Professional Regulation shall not exceed $5,000,000, which amount is equal to the sum deposited into the Illinois Bank Examiners' Education Fund under the Order of Assessment of a Civil Money Penalty, Monetary Payment and Order to File Reports Issued Upon Consent in the matter captioned FRB Dkt. No. 05-035-CMP-FB, plus proceeds accrued from the investment of that sum since the date of deposit.

Section 99. Effective date. This Act takes effect July 1, 2010.".