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| Public Act 103-0234 | ||||
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AN ACT concerning State government.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The State Treasurer Act is amended by changing | ||||
Section 18 as follows:
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(15 ILCS 505/18)
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Sec. 18. Banking and automated automatic teller machine
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services.
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(a) The Treasurer may enter into written agreements with | ||||
financial
institutions for the provision of banking services | ||||
at the State Capitol and with automated teller machine | ||||
providers
for the provision of automated automatic
teller | ||||
machine services at State office
buildings, State parks, State | ||||
tourism centers, and State fairs at Springfield and DuQuoin. | ||||
The Treasurer shall
establish competitive procedures for the | ||||
selection of financial institutions and automated teller | ||||
machine providers
to provide the services authorized under | ||||
this Section. No State agency may procure services authorized | ||||
by this Section without the approval of the Treasurer.
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(b) The Treasurer shall enter into written agreements with | ||||
the
authorities having jurisdiction of the property where the | ||||
services are intended
to be provided. These agreements shall | ||||
include, but need not be limited
to, the quantity of machines | ||||
to be located at the property and the exact
location of the | ||
service or machine and shall establish responsibility for
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payment of expenses incurred in locating the machine or | ||
service.
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(c) The Treasurer's agreement with a financial institution | ||
or automated teller machine providers may authorize
the | ||
financial institution or automated teller machine providers to | ||
provide any or all of the banking services that
the financial | ||
institution or automated teller machine providers is otherwise | ||
authorized by law to provide to the
public.
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The Treasurer's agreement with a financial
institution or | ||
automated teller machine providers shall establish the amount | ||
of compensation to
be paid by the financial institution. The | ||
financial institution or automated teller machine providers | ||
shall pay the
compensation to the Treasurer in accordance with | ||
the terms of the agreement.
The Treasurer shall deposit moneys | ||
received under this Section into the State Treasurer's Bank | ||
Services Trust Fund.
Treasurer's Rental Fee Fund, a special | ||
fund hereby created in the State
treasury. The Treasurer shall | ||
use the moneys in the Fund for the operation
of the program | ||
established under this Section. If the Treasurer determines | ||
that any moneys in the Treasurer's Rental Fee Fund are in | ||
excess of the amount necessary to sustain the operation of the | ||
program established under this Section, the Treasurer may | ||
transfer any unobligated and unexpended moneys from the | ||
Treasurer's Rental Fee Fund into the State Pensions Fund.
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(d) This Section does not apply to a State office building | ||
in which a
currency exchange or a credit union providing | ||
financial services located in the
building on July 1, 1995 | ||
(the effective date of Public Act 88-640) is
operating.
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(e) Notwithstanding any other provision of law to the | ||
contrary, and in addition to any other transfers that may be | ||
provided by law, within 30 days of the effective date of this | ||
amendatory Act of the 103rd General Assembly, or as soon | ||
thereafter as practicable, the State Comptroller shall direct | ||
and the State Treasurer shall transfer the remaining balance | ||
from the Treasurer's Rental Fee Fund into the State | ||
Treasurer's Bank Services Trust Fund. Upon completion of the | ||
transfer, the Treasurer's Rental Fee Fund is dissolved, and | ||
any future deposits due to that Fund and any outstanding | ||
obligations or liabilities of that Fund shall pass to the | ||
State Treasurer's Bank Services Trust Fund. | ||
(Source: P.A. 98-19, eff. 6-10-13.)
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Section 10. The State Finance Act is amended by changing | ||
Section 5.397 as follows:
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(30 ILCS 105/5.397)
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Sec. 5.397. The Treasurer's Rental Fee Fund. This Fund is | ||
dissolved upon the transfer of the remaining balance from the | ||
Treasurer's Rental Fee Fund to the State Treasurer's Bank | ||
Services Trust Fund as provided under subsection (e) of | ||
Section 18 of the State Treasurer Act. This Section is | ||
repealed on January 1, 2025. | ||
(Source: P.A. 88-640, eff. 7-1-95; 89-235, eff. 8-4-95.)
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Section 15. The State Treasurer's Bank Services Trust Fund | ||
Act is amended by changing Section 10 as follows:
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(30 ILCS 212/10)
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Sec. 10. Creation of Fund. There is hereby created in the | ||
State
treasury a special fund to be known as the State | ||
Treasurer's Bank Services
Trust Fund. Moneys deposited in the | ||
Fund shall be used by the
State
Treasurer to pay the cost of | ||
the following banking services: processing
of payments of | ||
taxes, fees, and other moneys due the State; transactional, | ||
technological, consultant, legal service charges, and other | ||
operational expenses of the State Treasurer's Office related | ||
to the investment or safekeeping of funds under the | ||
Treasurer's
control; the provision of banking and automated | ||
teller machine services at State office buildings, State | ||
parks, State tourism centers, and State fairs at Springfield | ||
and DuQuoin; and the cost of paying bondholders and legal | ||
services under the State's general
obligation bond program.
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(Source: P.A. 100-587, eff. 6-4-18.)
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