Illinois General Assembly - Full Text of HB2536
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Full Text of HB2536  98th General Assembly




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1    AN ACT concerning State government.
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4    Section 5. The State Treasurer Act is amended by changing
5Section 18 as follows:
6    (15 ILCS 505/18)
7    Sec. 18. Banking and automatic teller machine services.
8    (a) The Treasurer may enter into written agreements with
9financial institutions for the provision of banking services at
10the State Capitol and for the provision of automatic teller
11machine services at State office buildings, State parks, State
12tourism centers, and State fairs at Springfield and DuQuoin.
13The Treasurer shall establish competitive procedures for the
14selection of financial institutions to provide the services
15authorized under this Section. No State agency may procure
16services authorized by this Section without the approval of the
18    (b) The Treasurer shall enter into written agreements with
19the authorities having jurisdiction of the property where the
20services are intended to be provided. These agreements shall
21include, but need not be limited to, the quantity of machines
22to be located at the property and the exact location of the
23service or machine and shall establish responsibility for



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1payment of expenses incurred in locating the machine or
3    (c) The Treasurer's agreement with a financial institution
4may authorize the financial institution to provide any or all
5of the banking services that the financial institution is
6otherwise authorized by law to provide to the public.
7    The Treasurer's agreement with a financial institution
8shall establish the amount of compensation to be paid by the
9financial institution. The financial institution shall pay the
10compensation to the Treasurer in accordance with the terms of
11the agreement. The Treasurer shall deposit moneys received
12under this Section into the Treasurer's Rental Fee Fund, a
13special fund hereby created in the State treasury. The
14Treasurer shall use the moneys in the Fund for the operation of
15the program established under this Section. If the Treasurer
16determines that any moneys in the Treasurer's Rental Fee Fund
17are in excess of the amount necessary to sustain the operation
18of the program established under this Section, the Treasurer
19may transfer any unobligated and unexpended moneys from the
20Treasurer's Rental Fee Fund into the State Pensions Fund.
21    (d) This Section does not apply to a State office building
22in which a currency exchange or a credit union providing
23financial services located in the building on July 1, 1995 (the
24effective date of Public Act 88-640) is operating.
25(Source: P.A. 94-513, eff. 1-1-06.)



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1    Section 10. The Uniform Disposition of Unclaimed Property
2Act is amended by changing Section 18 as follows:
3    (765 ILCS 1025/18)  (from Ch. 141, par. 118)
4    Sec. 18. Deposit of funds received under the Act.
5    (a) The State Treasurer shall retain all funds received
6under this Act, including the proceeds from the sale of
7abandoned property under Section 17, in a trust fund. The State
8Treasurer may deposit any amount in the Trust Fund into the
9State Pensions Fund during the fiscal year at his or her
10discretion; however, he or she shall, on April 15 and October
1115 of each year, deposit any amount in the trust fund exceeding
12$2,500,000 into the State Pensions Fund. If on either April 15
13or October 15, the State Treasurer determines that a balance of
14$2,500,000 is insufficient for the prompt payment of unclaimed
15property claims authorized under this Act, the Treasurer may
16retain more than $2,500,000 in the Unclaimed Property Trust
17Fund in order to ensure the prompt payment of claims. Beginning
18in State fiscal year 2014, all amounts in excess of $2,500,000
19that are deposited into the State Pensions Fund from the
20unclaimed Property Trust Fund shall be apportioned to the
21designated retirement systems as provided in subsection (c-6)
22of Section 8.12 of the State Finance Act to reduce their
23actuarial reserve deficiencies. He or she shall make prompt
24payment of claims he or she duly allows as provided for in this
25Act for the trust fund. Before making the deposit the State



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1Treasurer shall record the name and last known address of each
2person appearing from the holders' reports to be entitled to
3the abandoned property. The record shall be available for
4public inspection during reasonable business hours.
5    (b) Before making any deposit to the credit of the State
6Pensions Fund, the State Treasurer may deduct: (1) any costs in
7connection with sale of abandoned property, (2) any costs of
8mailing and publication in connection with any abandoned
9property, and (3) any costs in connection with the maintenance
10of records or disposition of claims made pursuant to this Act.
11The State Treasurer shall semiannually file an itemized report
12of all such expenses with the Legislative Audit Commission.
13(Source: P.A. 96-1000, eff. 7-2-10; 97-732, eff. 6-30-12.)
14    Section 99. Effective date. This Act takes effect upon
15becoming law.