Full Text of SB1254 100th General Assembly
SB1254eng 100TH GENERAL ASSEMBLY |
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| 1 | | AN ACT concerning regulation.
| 2 | | Be it enacted by the People of the State of Illinois,
| 3 | | represented in the General Assembly:
| 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
| 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" | 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
| 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
| 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.
| 26 | | (d) The Secretary shall receive for each fiscal year, |
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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 |
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| 1 | | by the savings bank and of the date fixed by the Secretary for | 2 | | payment of the fee. | 3 | | (Source: P.A. 98-1081, eff. 1-1-15; 99-39, eff. 1-1-16; revised | 4 | | 9-14-16.)
| 5 | | Section 99. Effective date. This Act takes effect upon | 6 | | becoming law.
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