Rep. Frank J. Mautino

Filed: 5/25/2010

 

 


 

 


 
09600SB2101ham002 LRB096 11443 RCE 41746 a

1
AMENDMENT TO SENATE BILL 2101

2     AMENDMENT NO. ______. Amend Senate Bill 2101, AS AMENDED,
3 by replacing everything after the enacting clause with the
4 following:
 
5     "Section 5. The State Finance Act is amended by adding
6 Section 6z-11.5 as follows:
 
7     (30 ILCS 105/6z-11.5 new)
8     Sec. 6z-11.5. Transfers to Illinois Department of
9 Financial and Professional Regulation funds. On and after July
10 1, 2010 and through June 30, 2011, when any fund supporting the
11 oversight or regulation of an industry or profession that is
12 subject to the authority of the Illinois Department of
13 Financial and Professional Regulation has insufficient cash
14 from which the State Comptroller may make expenditures properly
15 supported by appropriations from the fund, then the Illinois
16 Department of Financial and Professional Regulation may

 

 

09600SB2101ham002 - 2 - LRB096 11443 RCE 41746 a

1 transfer moneys on deposit in an account maintained in a
2 commercial bank or corporate fiduciary in the name of the
3 Illinois Bank Examiners' Education Foundation to the Illinois
4 Department of Financial and Professional Regulation fund with
5 insufficient cash, in such amount as is necessary to satisfy
6 outstanding expenditure obligations on a timely basis, subject
7 to the provisions of the State Prompt Payment Act. The
8 aggregate amount of funds transferred from an account
9 maintained in a commercial bank or corporate fiduciary in the
10 name of the Illinois Bank Examiners' Education Foundation to
11 the Illinois Department of Financial and Professional
12 Regulation shall not exceed $5,000,000, which amount is equal
13 to the sum deposited into the Illinois Bank Examiners'
14 Education Fund under the Order of Assessment of a Civil Money
15 Penalty, Monetary Payment and Order to File Reports Issued Upon
16 Consent in the matter captioned FRB Dkt. No. 05-035-CMP-FB,
17 plus proceeds accrued from the investment of that sum since the
18 date of deposit.
 
19     Section 99. Effective date. This Act takes effect July 1,
20 2010.".