SB2196 97TH GENERAL ASSEMBLY

LRB097 05665 AEK 45728 b

97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB2196

Introduced 2/10/2011, by Sen. Mattie Hunter

SYNOPSIS AS INTRODUCED:

805 ILCS 5/15.93 new
805 ILCS 5/15.95	from Ch. 32, par. 15.95

Amends the State Finance Act. Provides that 15% of all moneys received by the State of Illinois from franchise tax litigation shall be deposited into the Secretary of State's Department of Business Services Special Operations Fund. Provides that the moneys in the fund shall be used by the Department of Business Services of the Office of the Secretary of State for expenses related to audit, enforcement, and operational duties in addition to pre-existing uses. Effective immediately.

FISCAL NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning finance.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Business Corporation Act of 1983 is amended by adding Section 15.93 and changing Section 15.95 as follows:

(805 ILCS 5/15.93 new)

Sec. 15.93. Audit and enforcement funding. Fifteen percent of all moneys received by the State of Illinois from franchise tax litigation, either by settlement or judgment, under Articles 15 and 16 of this Act shall be deposited into the Secretary of State's Department of Business Services Special Operations Fund.

(805 ILCS 5/15.95) (from Ch. 32, par. 15.95)

Sec. 15.95. Department of Business Services Special Operations Fund.

(a) A special fund in the State treasury known as the Division of Corporations Special Operations Fund is renamed the Department of Business Services Special Operations Fund. Moneys deposited into the Fund shall, subject to appropriation, be used by the Department of Business Services of the Office of the Secretary of State, hereinafter "Department", to create and maintain the capability to perform expedited services in response to special requests made by the public for same day or 24 hour service, and for expenses related to audit, enforcement, and operational duties. Moneys deposited into the Fund shall be used for, but not limited to, expenditures for personal services, retirement, social security, contractual services, equipment, electronic data processing, and telecommunications.

(b) The balance in the Fund at the end of any fiscal year shall not exceed $600,000 and any amount in excess thereof shall be transferred to the General Revenue Fund.

(c) All fees payable to the Secretary of State under this Section and Section 15.93 shall be deposited into the Fund. No other fees or taxes collected under this Act shall be deposited into the Fund.

(d) "Expedited services" means services rendered within the same day, or within 24 hours from the time, the request therefor is submitted by the filer, law firm, service company, or messenger physically in person or, at the Secretary of State's discretion, by electronic means, to the Department's Springfield Office and includes requests for certified copies, photocopies, and certificates of good standing or fact made to the Department's Springfield Office in person or by telephone, or requests for certificates of good standing or fact made in person or by telephone to the Department's Chicago Office.

(e) Fees for expedited services shall be as follows:

Restatement of articles, $200;

Merger, consolidation or exchange, $200;

Articles of incorporation, $100;

Articles of amendment, $100;

Revocation of dissolution, $100;

Reinstatement, $100;

Application for authority, $100;

Cumulative report of changes in issued shares or paid-in capital, $100;

Report following merger or consolidation, $100;

Certificate of good standing or fact, $20;

All other filings, copies of documents, annual reports filed on or after January 1, 1984, and copies of documents of dissolved or revoked corporations having a file number over 5199, $50.

(f) Expedited services shall not be available for a statement of correction, a petition for refund or adjustment, or a request involving annual reports filed before January 1, 1984 or involving dissolved corporations with a file number below 5200.

(Source: P.A. 95-331, eff. 8-21-07.)

Section 99. Effective date. This Act takes effect upon becoming law.