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Public Act 100-0232


 

Public Act 0232 100TH GENERAL ASSEMBLY

  
  
  

 


 
Public Act 100-0232
 
SB1254 EnrolledLRB100 05764 SMS 15787 b

    AN ACT concerning regulation.
 
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
 
    Section 5. The Savings Bank Act is amended by changing
Section 9002.5 as follows:
 
    (205 ILCS 205/9002.5)
    Sec. 9002.5. Regulatory fees.
    (a) Each For the fiscal year beginning July 1, 2007 and
every year thereafter, each savings bank and each service
corporation operating under this Act shall pay in quarterly
installments equal to one-fourth of a fixed fee of $520, plus a
regulatory variable fee based on the total assets of the
savings bank or service corporation, as shown in the quarterly
report of condition, at the following rates:
        19.295 cents per $1,000 of the first $5,000,000 of
    total assets;
        18.16 cents per $1,000 of the next $20,000,000 of total
    assets;
        15.89 cents per $1,000 of the next $75,000,000 of total
    assets;
        10.7825 cents per $1,000 of the next $400,000,000 of
    total assets;
        8.5125 cents per $1,000 of the next $500,000,000 of
    total assets;
        6.2425 cents per $1,000 of the next $19,000,000,000 of
    total assets;
        2.27 cents per $1,000 of the next $30,000,000,000 of
    total assets;
        1.135 cents per $1,000 of the next $50,000,000,000 of
    total assets; and
        0.5675 cents per $1,000 of all assets in excess of
    $100,000,000,000 of the savings bank.
        24.97 per $1,000 of the first $2,000,000 of total
    assets;
        22.70 per $1,000 of the next $3,000,000 of total
    assets;
        20.43 per $1,000 of the next $5,000,000 of total
    assets;
        17.025 per $1,000 of the next $15,000,000 of total
    assets;
        14.755 per $1,000 of the next $25,000,000 of total
    assets;
        12.485 per $1,000 of the next $50,000,000 of total
    assets;
        10.215 per $1,000 of the next $400,000,000 of total
    assets;
        6.81 per $1,000 of the next $500,000,000 of total
    assets; and
        4.54 per $1,000 of all total assets in excess of
    $1,000,000,000 of such savings bank or service
    corporation.
    As used in this Section, "quarterly report of condition"
means the Report of Condition and Income (Call Report), which
the Secretary requires.
    (a-5) For any savings bank or service corporation operating
under this Act that is examined by the Department between
January 1, 2017 and the effective date of this amendatory Act
of the 100th General Assembly, a regulatory fee shall not be
due or paid to the Department for the first billing of the
regulatory fee immediately following the effective date of this
amendatory Act of the 100th General Assembly. Any savings bank
or service corporation subject to this subsection shall pay the
regulatory fee as prescribed in subsection (a) beginning with
the second billing of the regulatory fee by the Department
following the effective date of this amendatory Act of the
100th General Assembly.
    (b) (Blank).
    (c) (Blank). The Secretary shall receive and there shall be
paid to the Secretary by each savings bank and each service
corporation a fee of $520 for each approved branch office or
facility office established under the Illinois Administrative
Code. The determination of the fees shall be made annually as
of the close of business of the prior calendar year ended
December 31.
    (d) The Secretary shall receive for each fiscal year,
commencing with the fiscal year ending June 30, 2014, a
contingent fee equal to the lesser of the aggregate of the fees
paid by all savings banks under subsection subsections (a),
(b), and (c) of this Section for that year, or the amount, if
any, whereby the aggregate of the administration expenses, as
defined in subsection (c) of Section 9002.1 of this Act, for
that fiscal year exceeds the sum of the aggregate of the fees
payable by all savings banks for that year under subsection
subsections (a), (b), and (c) of this Section, plus any amounts
transferred into the Savings Bank Regulatory Fund from the
State Pensions Fund for that year, plus all other amounts
collected by the Secretary for that year under any other
provision of this Act. The aggregate amount of the contingent
fee thus arrived at for any fiscal year shall be apportioned
amongst, assessed upon, and paid by the savings banks,
respectively, in the same proportion that the fee of each under
subsection subsections (a), (b), and (c) of this Section,
respectively, for that year bears to the aggregate for that
year of the fees collected under subsection subsections (a),
(b), and (c) of this Section. The aggregate amount of the
contingent fee, and the portion thereof to be assessed upon
each savings bank, respectively, shall be determined by the
Secretary and shall be paid by each, respectively, within 120
days of the close of the period for which the contingent fee is
computed and is payable, and the Secretary shall give 20 days'
days advance notice of the amount of the contingent fee payable
by the savings bank and of the date fixed by the Secretary for
payment of the fee.
(Source: P.A. 98-1081, eff. 1-1-15; 99-39, eff. 1-1-16; revised
9-14-16.)
 
    Section 99. Effective date. This Act takes effect upon
becoming law.

Effective Date: 8/18/2017