Bill Status of SB2513  95th General Assembly


Short Description:  BANKING-FEES/FUND TRANSFERS

Senate Sponsors
Sen. Terry Link - Jacqueline Y. Collins - Dan Rutherford - Kimberly A. Lightford, William R. Haine, Michael Noland and Dan Kotowski

House Sponsors
(Rep. Joseph M. Lyons - Lisa M. Dugan - Thomas Holbrook - John D'Amico - Bill Mitchell, Julie Hamos, Patrick J Verschoore, Monique D. Davis, Maria Antonia Berrios, Kathleen A. Ryg, Sara Feigenholtz and Karen May)

Last Action
DateChamber Action
  4/6/2009SenatePublic Act . . . . . . . . . 95-1047

Statutes Amended In Order of Appearance
205 ILCS 5/2from Ch. 17, par. 302
205 ILCS 5/2.7 new
205 ILCS 5/48from Ch. 17, par. 359
205 ILCS 105/1-10.39 new
205 ILCS 105/7-3from Ch. 17, par. 3307-3
205 ILCS 105/7-19.1from Ch. 17, par. 3307-19.1
205 ILCS 105/1-10.04 rep.
205 ILCS 205/1007.135 new
205 ILCS 205/9002from Ch. 17, par. 7309-2
205 ILCS 305/1.1from Ch. 17, par. 4402
205 ILCS 305/1.2 new
205 ILCS 305/12from Ch. 17, par. 4413
205 ILCS 635/1-4from Ch. 17, par. 2321-4
205 ILCS 635/1-4.1 new
205 ILCS 635/2-2from Ch. 17, par. 2322-2
205 ILCS 635/2-6from Ch. 17, par. 2322-6
205 ILCS 635/4-11from Ch. 17, par. 2324-11


Synopsis As Introduced
Amends the Illinois Banking Act, the Illinois Savings and Loan Act of 1985, the Savings Bank Act, the Illinois Credit Union Act, and the Residential Mortgage License Act of 1987. Defines "Secretary" as the Secretary of Financial and Professional Regulation, or a person authorized by the Secretary or by the Acts to act in the Secretary's stead and changes some provisions to reference the Secretary instead of the Commissioner of Banks and Real Estate or the Director of Financial Institutions. Allows the Secretary to adopt emergency and general rules to adjust regulatory rates in some Acts and decreases regulatory fees in other Acts. Provides that (1) the specified sum shall be transferred from the Bank and Trust Company Fund, the Savings and Residential Finance Regulatory Fund, and the Credit Union Fund to the General Revenue Fund on the effective date of the amendatory Act; (2) the Governor may, during any fiscal year through January 10, 2011, from time to time direct the State Treasurer and Comptroller to transfer a specified sum not exceeding 10% of the revenues to be deposited into the Bank and Trust Company Fund during that fiscal year from that Fund to the General Revenue Fund in order to help defray the State's operating costs for the fiscal year; and (3) the total sum transferred during any fiscal year through January 10, 2011, from the Bank and Trust Company Fund to the General Revenue Fund pursuant to the State Finance Act or any other law shall not exceed during any fiscal year 10% of the revenues to be deposited into the Bank and Trust Company Fund during that fiscal year. Makes other changes. Effective immediately.

Senate Committee Amendment No. 1
Deletes reference to:
205 ILCS 5/2from Ch. 17, par. 302
205 ILCS 5/2.7 new
205 ILCS 5/48from Ch. 17, par. 359
205 ILCS 105/1-10.39 new
205 ILCS 105/7-3from Ch. 17, par. 3307-3
205 ILCS 105/7-19.1from Ch. 17, par. 3307-19.1
205 ILCS 105/1-10.04 rep.
205 ILCS 205/1007.135 new
205 ILCS 205/9002from Ch. 17, par. 7309-2
205 ILCS 305/1.1from Ch. 17, par. 4402
205 ILCS 305/1.2 new
205 ILCS 305/12from Ch. 17, par. 4413
205 ILCS 635/1-4from Ch. 17, par. 2321-4
205 ILCS 635/1-4.1 new
205 ILCS 635/2-2from Ch. 17, par. 2322-2
205 ILCS 635/2-6from Ch. 17, par. 2322-6
205 ILCS 635/4-11from Ch. 17, par. 2324-11
Adds reference to:
205 ILCS 5/1from Ch. 17, par. 301

Replaces everything after the enacting clause. Amends the Illinois Banking Act. Makes a technical change in the short title.

Senate Floor Amendment No. 2
Deletes reference to:
205 ILCS 5/1from Ch. 17, par. 301
Adds reference to:
205 ILCS 5/2from Ch. 17, par. 302
205 ILCS 5/48from Ch. 17, par. 359
205 ILCS 105/1-10.39 new
205 ILCS 105/7-3from Ch. 17, par. 3307-3
205 ILCS 105/7-19.1from Ch. 17, par. 3307-19.1
205 ILCS 205/1007.135 new
205 ILCS 205/9002from Ch. 17, par. 7309-2
205 ILCS 305/1.1from Ch. 17, par. 4402
205 ILCS 305/12from Ch. 17, par. 4413
205 ILCS 635/1-4from Ch. 17, par. 2321-4
205 ILCS 635/2-2from Ch. 17, par. 2322-2
205 ILCS 635/2-6from Ch. 17, par. 2322-6
205 ILCS 635/4-11from Ch. 17, par. 2324-11

Replaces everything after the enacting clause. Amends the Illinois Banking Act, the Illinois Credit Union Act, and the Residential Mortgage License Act of 1987 to mark the transfer of authority from the Commissioner of Banks and Real Estate and Director of the Department of Financial Institutions to the Secretary of Financial and Professional Regulation. Amends the Illinois Banking Act, the Illinois Savings and Loan Act of 1985, and the Savings Bank Act. Specifies the powers and duties of the Secretary of Financial and Professional Regulation. Provides that for the fiscal year July 1, 2007, and continuing thereafter through January 10, 2011, the Secretary shall adopt emergency and general rules to adjust regulatory fee rates to an amount that shall not exceed by a specified percentage the rates in effect prior to the escalation in rates implemented by specific provisions. Amends the Illinois Banking Act, the Illinois Savings and Loan Act of 1985, the Savings Bank Act, and the Illinois Credit Union Act to provide that notwithstanding provisions in the State Finance Act or any other law to the contrary: (1) a specified amount shall be transferred from a specified fund to the General Revenue Fund on the effective date of the amendatory Act, or as soon thereafter as practical; (2) the Governor may, during any fiscal year through a specified date, from time to time direct the State Treasurer and Comptroller to transfer a specified sum of the revenues to be deposited into a specific fund during that fiscal year from that fund to the General Revenue Fund in order to help defray the State's operating costs for the fiscal year; and (3) the total sum transferred during any fiscal year through a specified date, from the specified fund to the General Revenue Fund pursuant to the State Finance Act or any other law shall not exceed during any fiscal year 10% of the revenues to be deposited into the fund during that fiscal year. Amends the Illinois Savings and Loan Act of 1985 to provide that amounts deposited into the Savings and Residential Finance Regulatory Fund shall be used for the ordinary and contingent expenses of the Department of Financial and Professional Regulation and the Division of Banking, or their successors, in administering and enforcing the Illinois Savings and Loan Act of 1985, the Savings Bank Act, and the Residential Mortgage License Act of 1987 and other laws, rules, and regulations that apply to the administration and enforcement of the foregoing laws, rules, and regulations. Provides that when the balance in the Savings and Residential Finance Regulatory Fund at the end of a fiscal year apportioned to the fees collected under the Illinois Savings and Loan Act of 1985 and the Savings Bank Act exceeds a specified amount, the excess shall be credited to specified institutions and entities in specified amounts. Amends the Illinois Credit Union Act. Makes changes in provisions concerning regulatory fees. Amends the Residential Mortgage License Act of 1987 to make changes in (1) the application process for a license and (2) the costs of supervision, examination, and investigative fees. Effective immediately.

House Floor Amendment No. 2
Adds reference to:
30 ILCS 105/5.710 new
30 ILCS 105/6z-73 new
205 ILCS 5/48.05 new
205 ILCS 105/7-3.05 new
205 ILCS 205/9002.5 new

Deletes everything after the enacting clause. Reinserts the contents of the engrossed bill with the following changes. Amends the State Finance Act. Creates the Financial Institutions Settlement of 2008 Fund as a nonappropriated trust fund to be held outside the State Treasury with the State Treasurer as custodian. Provides that moneys in the fund shall be used by the Comptroller solely for the purpose of payment of outstanding vouchers as of the effective date of the amendatory Act for expenses related to medical assistance under the Illinois Public Aid Code, the Children's Health Insurance Program Act, the Covering ALL KIDS Health Insurance Act, and the Senior Citizens and Disabled Persons Property Tax Relief and Pharmaceutical Assistance Act. Provides that the Department of Health and Family Services must submit all necessary and proper documentation to the Comptroller for administration of the Fund. Amends the Illinois Banking Act. Provides that for the fiscal year beginning July 1, 2007 and every year thereafter, each state bank regulated by the Department of Financial and Professional Regulation shall pay a regulatory fee to the Department based upon its total assets as shown by its year-end Call Report at specified rates. Amends the Illinois Savings and Loan Act of 1985. Provides that for the fiscal year beginning July 1, 2007 and every year thereafter, each association and each service corporation operating under the provisions of the Act shall pay a fixed fee of $520, plus a variable fee based on the total assets of each association and each service corporation at specified rates. Provides that the Secretary of Financial and Professional Regulation shall receive and there shall be paid to the Secretary an additional fee as an adjustment to the supervisory fee, based upon the difference between the total assets of the association or service corporation as shown by its financial report filed with the Secretary for the reporting period of the calendar year ended December 31 on which the supervisory fee was based and the total assets of the association or service corporation as shown by its financial report filed with the Secretary for the reporting period of the calendar year ended December 31 in which the quarterly payments are made according to a specified schedule. Provides that the Secretary of Financial and Professional Regulation shall receive and there shall be paid to the Secretary an additional fee as an adjustment to the supervisory fee, based upon the difference between the total assets of each association and each service corporation as shown by its financial report filed with the Secretary for the reporting period of the calendar year ended December 31 on which the supervisory fee was based and the total assets of each association and each service corporation as shown by its financial report filed with the Secretary for the reporting period of the calendar year ended December 31 in which the quarterly payments are made according a specified schedule. Provides that the Secretary shall receive and there shall be paid to the Secretary by each association a fee of $520 for each approved branch office or facility office established under the Illinois Administrative Code. Provides that the determination of the fees shall be made annually as of the close of business of the prior calendar year ended December 31. Amends the Savings Bank Act. Provides that for the fiscal year beginning July 1, 2007 and every year thereafter, each savings bank and each service corporation operating under the Act shall pay a fixed fee of $520, plus a variable fee based on the total assets of each savings bank and each service corporation at specified rates. Provides that the Secretary of Financial and Professional Regulation shall receive and there shall be paid to the Secretary an additional fee as an adjustment to the supervisory fee, based upon the difference between the total assets of the savings bank or service corporation as shown by its financial report filed with the Secretary for the reporting period of the calendar year ended December 31 on which the supervisory fee was based and the total assets of the savings bank or service corporation as shown by its financial report filed with the Secretary for the reporting period of the calendar year ended December 31 in which the quarterly payments are made according to a specified schedule. Provides that the Secretary shall receive and there shall be paid to the Secretary by each savings bank a fee of $520 for each approved branch office or facility office established under the Illinois Administrative Code. Provides that the determination of the fees shall be made annually as of the close of business of the prior calendar year ended December 31. Amends the Illinois Banking Act, the Illinois Savings and Loan Act of 1985, and the Illinois Credit Union Act to provide that notwithstanding provisions in the State Finance Act or any other law to the contrary, specified sums shall be transferred from specified funds to the Financing Institutions Settlement of 2008 Fund on the effective date of the amendatory Act, or as soon thereafter as practical. Effective immediately.

House Floor Amendment No. 3
Adds reference to:
65 ILCS 95/3from Ch. 24, par. 1603
65 ILCS 95/7from Ch. 24, par. 1607
65 ILCS 95/8from Ch. 24, par. 1608
735 ILCS 5/15-1502.5 new
765 ILCS 940/5
765 ILCS 940/7 new
765 ILCS 940/50
765 ILCS 940/70 new

Amends the Home Equity Assurance Act. Changes the definition of "bona fide offer", provides that a member shall receive the guarantee provided by a guaranteed home equity program only if the member has accepted a bona fide offer and the sale of the guaranteed residence has closed, and makes various changes in procedures for obtaining benefits. Amends the Mortgage Foreclosure Article of the Code of Civil Procedure. Provides that, except when a mortgagor has filed a petition for relief under the United States Bankruptcy Code, no mortgagee shall file a complaint to foreclose a mortgage secured by residential real estate until the mortgagee has satisfied specified requirements. Contains provisions concerning: requirements and procedures for notification of delinquency; procedures concerning legal action; the liabilities of counselors concerning counseling for home loans; the reporting of information to consumer reporting agencies; the powers and duties of the Secretary of Financial and Professional Regulation; prohibitions on waiver; intent; and other matters. Provides that the provisions amending the Mortgage Foreclosure Article of the Code of Civil Procedure are repealed 2 years after the effective date of the amendatory Act. Amends the Mortgage Rescue Fraud Act. Makes changes in definitions. Deletes provisions excluding licensees of the Residential Mortgage License Act of 1987 from the definition of "distressed property consultant", and adds language providing that licensees of the Residential Mortgage License Act of 1987 are exempt from specified requirements of the Act. Deletes existing limits on the compensation of distressed property consultants, and adds new limits. Adds a severability clause. Effective immediately.

Actions 
DateChamber Action
  2/15/2008SenateFiled with Secretary by Sen. Terry Link
  2/15/2008SenateFirst Reading
  2/15/2008SenateReferred to Rules
  2/21/2008SenateAdded as Co-Sponsor Sen. William R. Haine
  2/28/2008SenateAssigned to Financial Institutions
  3/4/2008SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Terry Link
  3/4/2008SenateSenate Committee Amendment No. 1 Referred to Rules
  3/5/2008SenateSenate Committee Amendment No. 1 Rules Refers to Financial Institutions
  3/5/2008SenateSenate Committee Amendment No. 1 Adopted
  3/6/2008SenateDo Pass as Amended Financial Institutions; 007-000-000
  3/6/2008SenatePlaced on Calendar Order of 2nd Reading March 11, 2008
  3/6/2008SenateAdded as Chief Co-Sponsor Sen. Dan Rutherford
  3/12/2008SenateSecond Reading
  3/12/2008SenatePlaced on Calendar Order of 3rd Reading March 13, 2008
  3/13/2008SenateAdded as Chief Co-Sponsor Sen. Kimberly A. Lightford
  4/10/2008SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Terry Link
  4/10/2008SenateSenate Floor Amendment No. 2 Referred to Rules
  4/15/2008SenateSenate Floor Amendment No. 2 Rules Refers to Financial Institutions
  4/16/2008SenateSenate Floor Amendment No. 2 Recommend Do Adopt Financial Institutions; 005-000-000
  4/16/2008SenateRecalled to Second Reading
  4/16/2008SenateSenate Floor Amendment No. 2 Adopted; Link
  4/16/2008SenatePlaced on Calendar Order of 3rd Reading
  4/16/2008SenateAdded as Co-Sponsor Sen. Michael Noland
  4/16/2008SenateThird Reading - Passed; 058-000-000
  4/17/2008HouseArrived in House
  4/17/2008HousePlaced on Calendar Order of First Reading
  4/17/2008HouseChief House Sponsor Rep. Joseph M. Lyons
  4/17/2008HouseFirst Reading
  4/17/2008HouseReferred to Rules Committee
  4/29/2008HouseAdded Alternate Chief Co-Sponsor Rep. Lisa M. Dugan
  5/5/2008HouseAdded Alternate Chief Co-Sponsor Rep. Thomas Holbrook
  5/20/2008HouseAdded Alternate Chief Co-Sponsor Rep. John D'Amico
  5/21/2008HouseAdded Alternate Chief Co-Sponsor Rep. Bill Mitchell
  5/22/2008HouseCommittee Deadline Extended-Rule 9(b) May 23, 2008
  5/22/2008HouseAssigned to Executive Committee
  5/23/2008HouseFinal Action Deadline Extended-9(b) May 31, 2008
  5/28/2008HouseHouse Committee Amendment No. 1 Filed with Clerk by Executive Committee
  5/28/2008HouseHouse Committee Amendment No. 1 Adopted in Executive Committee; by Voice Vote
  5/28/2008HouseDo Pass as Amended / Short Debate Executive Committee; 012-000-000
  5/28/2008HousePlaced on Calendar 2nd Reading - Short Debate
  5/28/2008HouseSecond Reading - Short Debate
  5/28/2008HouseHeld on Calendar Order of Second Reading - Short Debate
  5/31/2008HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Joseph M. Lyons
  5/31/2008HouseHouse Floor Amendment No. 2 Referred to Rules Committee
  5/31/2008HouseHouse Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 003-001-000
  5/31/2008HouseHouse Committee Amendment No. 1 Motion Filed to Table Rep. Joseph M. Lyons
  5/31/2008HouseHouse Committee Amendment No. 1 Motion to Table Referred to Rules Committee
  5/31/2008HouseHouse Committee Amendment No. 1 Motion to Table Recommends Be Adopted Rules Committee; 003-001-000
  5/31/2008HouseHouse Committee Amendment No. 1 Motion to Table Amendment - Prevailed
  5/31/2008HouseHouse Committee Amendment No. 1 Tabled
  5/31/2008HouseHouse Floor Amendment No. 2 Adopted by Voice Vote
  5/31/2008HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/31/2008HouseThird Reading - Short Debate - Passed 109-000-004
  6/4/2008HouseMotion Filed to Reconsider Vote Rep. Barbara Flynn Currie
  1/12/2009SenateAdded as Chief Co-Sponsor Sen. Jacqueline Y. Collins
  1/12/2009HouseHouse Floor Amendment No. 3 Filed with Clerk by Rep. Joseph M. Lyons
  1/12/2009HouseHouse Floor Amendment No. 3 Referred to Rules Committee
  1/12/2009HouseMotion to Reconsider Vote - Prevails 112-000-000
  1/12/2009HouseFinal Action Deadline Extended-9(b) January 13, 2009
  1/12/2009HousePlaced on Calendar Order of 3rd Reading - Short Debate
  1/12/2009HouseHouse Floor Amendment No. 3 Rules Refers to Executive Committee
  1/12/2009HouseAdded Alternate Co-Sponsor Rep. Julie Hamos
  1/12/2009HouseHouse Floor Amendment No. 3 Recommends Be Adopted Executive Committee; 013-000-000
  1/12/2009HouseAdded Alternate Co-Sponsor Rep. Patrick J Verschoore
  1/12/2009HouseAdded Alternate Co-Sponsor Rep. Monique D. Davis
  1/12/2009HouseAdded Alternate Co-Sponsor Rep. Maria Antonia Berrios
  1/12/2009HouseAdded Alternate Co-Sponsor Rep. Kathleen A. Ryg
  1/12/2009HouseAdded Alternate Co-Sponsor Rep. Sara Feigenholtz
  1/12/2009HouseAdded Alternate Co-Sponsor Rep. Karen May
  1/12/2009HouseRecalled to Second Reading - Short Debate
  1/12/2009HouseHouse Floor Amendment No. 3 Adopted by Voice Vote
  1/12/2009HousePlaced on Calendar Order of 3rd Reading - Short Debate
  1/12/2009HouseThird Reading - Short Debate - Passed 113-000-000
  1/13/2009SenateSecretary's Desk - Concurrence House Amendment(s) 02,03
  1/13/2009SenatePlaced on Calendar Order of Concurrence House Amendment(s) January 13, 2009; 02,03
  1/13/2009SenateHouse Floor Amendment No. 2 Motion to Concur Filed with Secretary Sen. Terry Link
  1/13/2009SenateHouse Floor Amendment No. 2 Motion to Concur Referred to Rules
  1/13/2009SenateHouse Floor Amendment No. 3 Motion to Concur Filed with Secretary Sen. Terry Link
  1/13/2009SenateHouse Floor Amendment No. 3 Motion to Concur Referred to Rules
  1/13/2009SenateHouse Floor Amendment No. 2 Motion to Concur Rules Referred to Executive
  1/13/2009SenateHouse Floor Amendment No. 3 Motion to Concur Rules Referred to Executive
  1/13/2009SenateHouse Floor Amendment No. 2 Motion To Concur Recommended Do Adopt Executive; 012-000-000
  1/13/2009SenateHouse Floor Amendment No. 3 Motion To Concur Recommended Do Adopt Executive; 012-000-000
  1/13/2009SenateHouse Floor Amendment No. 2 Senate Concurs 056-000-000
  1/13/2009SenateHouse Floor Amendment No. 3 Senate Concurs 056-000-000
  1/13/2009SenateAdded as Co-Sponsor Sen. Dan Kotowski
  1/13/2009SenatePassed Both Houses
  2/11/2009SenateSent to the Governor
  4/6/2009SenateGovernor Approved
  4/6/2009SenateEffective Date April 6, 2009
  4/6/2009SenatePublic Act . . . . . . . . . 95-1047