General Assembly Governor's Bill No. 6382
January Session, 2011 LCO No. 3444
*_____HB06382BA____031511____*
Referred to Committee on Banks
Introduced by:
REP. DONOVAN, 84th Dist. REP. SHARKEY, 88th Dist. SEN. LOONEY, 11th Dist. SEN. WILLIAMS, 29th Dist.
General Assembly
Governor's Bill No. 6382
January Session, 2011
LCO No. 3444
*_____HB06382BA____031511____*
Referred to Committee on Banks
Introduced by:
REP. DONOVAN, 84th Dist.
REP. SHARKEY, 88th Dist.
SEN. LOONEY, 11th Dist.
SEN. WILLIAMS, 29th Dist.
AN ACT CONCERNING THE BANKING FUND.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. Subsections (a) and (b) of section 36a-65 of the general statutes are repealed and the following is substituted in lieu thereof (Effective July 1, 2011):
(a) The commissioner shall annually, on or after July first for the fiscal year commencing on said July first, collect pro rata based on asset size from each Connecticut bank and each Connecticut credit union an amount sufficient in the commissioner's judgment to meet the expenses of the Department of Banking, including a reasonable reserve for contingencies, provided the commissioner shall not collect such amount from a newly organized Connecticut credit union until July first following the third full calendar year after issuance by the commissioner of such credit union's certificate of authority. Such assessments and expenses shall not exceed the budget estimates submitted in accordance with section 36a-13. Such assessments may be made more frequently than annually at the discretion of the commissioner. Such assessments for any fiscal year shall be reduced pro rata by the amount of any surplus from the assessments of prior fiscal years, which surplus shall be maintained in accordance with subdivision [(4)] (5) of subsection (b) of this section. The commissioner may reduce any such assessment collected from a Connecticut bank up to the amount of any assessment for the same fiscal year collected from such bank by another state in which such bank has established a branch, limited branch or mobile branch. The commissioner may reduce any such assessment collected from a Connecticut credit union up to the amount of any assessment for the same fiscal year collected from such credit union by another state in which such credit union has established a branch. Such assessments for any fiscal year shall be a liability of such banks and credit unions as of the assessment date. Except as provided in this subsection, such assessments shall not be prorated for any reason.
(b) (1) Each such bank and credit union shall pay the commissioner the amount allocated to it [within] not later than twenty business days from the [time] date on which the commissioner mails a notice to it of the amount due. [, with an additional two hundred dollars if the amount allocated is not paid in the time specified. The provisions of this subdivision shall not apply to any person required to pay the commissioner any fee for license or registration or the whole cost of all examinations made by the commissioner.]
(2) Each such bank and credit union shall pay the commissioner an additional two hundred dollars if the amount allocated is not paid in the time specified in subdivision (1) of this subsection. The provisions of this subdivision shall not apply to any person required to pay the commissioner any fee for license or registration or the whole cost of all examinations made by the commissioner. The State Treasurer shall place all funds received by the commissioner pursuant to this subdivision into the General Fund.
[(2)] (3) The State Treasurer shall place all funds received from the commissioner and all moneys received from any person for documents or reports sold by the commissioner pursuant to subdivision (1) of subsection (b) of this section in a special fund to be known as the State Banking Fund. Amounts in the fund may be expended only pursuant to appropriation by the General Assembly.
[(3)] (4) The Comptroller shall determine for each fiscal year the expenses of the Department of Banking.
[(4)] (5) The Secretary of the Office of Policy and Management shall examine the State Banking Fund annually after the Comptroller has made his determination and shall direct the Treasurer to set aside within the Banking Fund amounts in excess of a reasonable reserve for contingencies, which excess amounts shall be considered a surplus for the purposes of subsection (a) of this section.
Sec. 2. (NEW) (Effective July 1, 2011) Any fines, civil penalties or restitution imposed by the Banking Commissioner or ordered by a court of competent jurisdiction in accordance with section 36a-50, 36a-53 or 36a-57 of the general statutes shall be deposited into the General Fund.
This act shall take effect as follows and shall amend the following sections:
Section 1 July 1, 2011 36a-65(a) and (b)
Sec. 2 July 1, 2011 New section
This act shall take effect as follows and shall amend the following sections:
Section 1
July 1, 2011
36a-65(a) and (b)
Sec. 2
July 1, 2011
New section
BA Joint Favorable
BA
Joint Favorable