Illinois 2023-2024 Regular Session

Illinois House Bill HB3296 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	Public Act 103-0107
2	1		HB3296 EnrolledLRB103 27828 BMS 54206 b HB3296 Enrolled LRB103 27828 BMS 54206 b
3	2		HB3296 Enrolled LRB103 27828 BMS 54206 b
4		-	AN ACT concerning regulation.
5		-	Be it enacted by the People of the State of Illinois,
6		-	represented in the General Assembly:
7		-	Section 5. The Illinois Credit Union Act is amended by
8		-	changing Section 12 as follows:
9		-	(205 ILCS 305/12) (from Ch. 17, par. 4413)
10		-	Sec. 12. Regulatory fees.
11		-	(1) For the fiscal year beginning July 1, 2007, a credit
12		-	union regulated by the Department shall pay a regulatory fee
13		-	to the Department based upon its total assets as shown by its
14		-	Year-end Call Report at the following rates or at a lesser rate
15		-	established by the Secretary in a manner proportionately
16		-	consistent with the following rates and sufficient to fund the
17		-	actual administrative and operational expenses of the
18		-	Department's Credit Union Section pursuant to subsection (4)
19		-	of this Section:
20		-	~~TOTAL~~ ASSETSREGULATORY FEE $25,000 or less ................$100 ~~Over~~ $25,000 and not over $100,000 .......................$100 plus $4 per $1,000 of assets in excess of $25,000 ~~Over~~ $100,000 and not over TOTAL ASSETS REGULATORY FEE $25,000 or less ................ $100 Over $25,000 and not over $100,000 ....................... $100 plus $4 per $1,000 of assets in excess of $25,000 Over $100,000 and not over
21		-	TOTAL ASSETS REGULATORY FEE
22		-	$25,000 or less ................ $100
23		-	Over $25,000 and not over
24		-	$100,000 ....................... $100 plus $4 per
25		-	$1,000 of assets in excess of
26		-	$25,000
27		-	Over $100,000 and not over
	3	+	1 AN ACT concerning regulation.
	4	+	2 Be it enacted by the People of the State of Illinois,
	5	+	3 represented in the General Assembly:
	6	+	4 Section 5. The Illinois Credit Union Act is amended by
	7	+	5 changing Section 12 as follows:
	8	+	6 (205 ILCS 305/12) (from Ch. 17, par. 4413)
	9	+	7 Sec. 12. Regulatory fees.
	10	+	8 (1) For the fiscal year beginning July 1, 2007, a credit
	11	+	9 union regulated by the Department shall pay a regulatory fee
	12	+	10 to the Department based upon its total assets as shown by its
	13	+	11 Year-end Call Report at the following rates or at a lesser rate
	14	+	12 established by the Secretary in a manner proportionately
	15	+	13 consistent with the following rates and sufficient to fund the
	16	+	14 actual administrative and operational expenses of the
	17	+	15 Department's Credit Union Section pursuant to subsection (4)
	18	+	16 of this Section:
	19	+	17TOTAL ASSETSREGULATORY FEE 18$25,000 or less ................$100 19Over $25,000 and not over 20$100,000 .......................$100 plus $4 per 21$1,000 of assets in excess of 22$25,000 23Over $100,000 and not over 17 TOTAL ASSETS REGULATORY FEE 18 $25,000 or less ................ $100 19 Over $25,000 and not over 20 $100,000 ....................... $100 plus $4 per 21 $1,000 of assets in excess of 22 $25,000 23 Over $100,000 and not over
	20	+	17 TOTAL ASSETS REGULATORY FEE
	21	+	18 $25,000 or less ................ $100
	22	+	19 Over $25,000 and not over
	23	+	20 $100,000 ....................... $100 plus $4 per
	24	+	21 $1,000 of assets in excess of
	25	+	22 $25,000
	26	+	23 Over $100,000 and not over
28	27
29	28
30	29
31	30		HB3296 Enrolled LRB103 27828 BMS 54206 b
32	31
33	32
34		-	TOTAL ASSETS REGULATORY FEE
35		-	$25,000 or less ................ $100
36		-	Over $25,000 and not over
37		-	$100,000 ....................... $100 plus $4 per
38		-	$1,000 of assets in excess of
39		-	$25,000
40		-	Over $100,000 and not over
	33	+	17 TOTAL ASSETS REGULATORY FEE
	34	+	18 $25,000 or less ................ $100
	35	+	19 Over $25,000 and not over
	36	+	20 $100,000 ....................... $100 plus $4 per
	37	+	21 $1,000 of assets in excess of
	38	+	22 $25,000
	39	+	23 Over $100,000 and not over
41	40
42	41
43		-	$200,000 .......................$400 plus $3 per $1,000 of assets in excess of $100,000 Over $200,000 and not over $500,000 .......................$700 plus $2 per $1,000 of assets in excess of $200,000 Over $500,000 and not over $1,000,000 .....................$1,300 plus $1.40 per $1,000 of assets in excess of $500,000 Over $1,000,000 and not over $5,000,000.................$2,000 plus $0.50 per $1,000 of assets in excess of $1,000,000 Over $5,000,000 and not over $30,000,000 ............... $4,540 plus $0.397 per $1,000 of assets in excess of $5,000,000 Over $30,000,000 and not over $100,000,000....................$14,471 plus $0.34 per $1,000 of assets in excess of $30,000,000 Over $100,000,000 and not over $500,000,000 ..............$38,306 plus $0.17 per $1,000 of assets $200,000 ....................... $400 plus $3 per $1,000 of assets in excess of $100,000 Over $200,000 and not over $500,000 ....................... $700 plus $2 per $1,000 of assets in excess of $200,000 Over $500,000 and not over $1,000,000 ..................... $1,300 plus $1.40 per $1,000 of assets in excess of $500,000 Over $1,000,000 and not over $5,000,000................. $2,000 plus $0.50 per $1,000 of assets in excess of $1,000,000 Over $5,000,000 and not over $30,000,000 ............... $4,540 plus $0.397 per $1,000 of assets in excess of $5,000,000 Over $30,000,000 and not over $100,000,000.................... $14,471 plus $0.34 per $1,000 of assets in excess of $30,000,000 Over $100,000,000 and not over $500,000,000 .............. $38,306 plus $0.17 per $1,000 of assets
44		-	$200,000 ....................... $400 plus $3 per
45		-	$1,000 of assets in excess of
46		-	$100,000
47		-	Over $200,000 and not over
48		-	$500,000 ....................... $700 plus $2 per
49		-	$1,000 of assets in excess of
50		-	$200,000
51		-	Over $500,000 and not over
52		-	$1,000,000 ..................... $1,300 plus $1.40
53		-	per $1,000 of assets in excess
54		-	of $500,000
55		-	Over $1,000,000 and not
56		-	over $5,000,000................. $2,000 plus $0.50
57		-	per $1,000 of assets in
58		-	excess of $1,000,000
59		-	Over $5,000,000 and not
60		-	over $30,000,000 ............... $4,540 plus $0.397
61		-	per $1,000 of assets
62		-	in excess of $5,000,000
63		-	Over $30,000,000 and not over
64		-	$100,000,000.................... $14,471 plus $0.34
65		-	per $1,000 of assets
66		-	in excess of $30,000,000
67		-	Over $100,000,000 and not
68		-	over $500,000,000 .............. $38,306 plus $0.17
69		-	per $1,000 of assets
70		-
71		-	$200,000 ....................... $400 plus $3 per
72		-	$1,000 of assets in excess of
73		-	$100,000
74		-	Over $200,000 and not over
75		-	$500,000 ....................... $700 plus $2 per
76		-	$1,000 of assets in excess of
77		-	$200,000
78		-	Over $500,000 and not over
79		-	$1,000,000 ..................... $1,300 plus $1.40
80		-	per $1,000 of assets in excess
81		-	of $500,000
82		-	Over $1,000,000 and not
83		-	over $5,000,000................. $2,000 plus $0.50
84		-	per $1,000 of assets in
85		-	excess of $1,000,000
86		-	Over $5,000,000 and not
87		-	over $30,000,000 ............... $4,540 plus $0.397
88		-	per $1,000 of assets
89		-	in excess of $5,000,000
90		-	Over $30,000,000 and not over
91		-	$100,000,000.................... $14,471 plus $0.34
92		-	per $1,000 of assets
93		-	in excess of $30,000,000
94		-	Over $100,000,000 and not
95		-	over $500,000,000 .............. $38,306 plus $0.17
96		-	per $1,000 of assets
	42	+	HB3296 Enrolled- 2 -LRB103 27828 BMS 54206 b HB3296 Enrolled - 2 - LRB103 27828 BMS 54206 b
	43	+	HB3296 Enrolled - 2 - LRB103 27828 BMS 54206 b
	44	+	1$200,000 .......................$400 plus $3 per 2$1,000 of assets in excess of 3$100,000 4Over $200,000 and not over 5$500,000 .......................$700 plus $2 per 6$1,000 of assets in excess of 7$200,000 8Over $500,000 and not over 9$1,000,000 .....................$1,300 plus $1.40 10per $1,000 of assets in excess 11of $500,000 12Over $1,000,000 and not 13over $5,000,000.................$2,000 plus $0.50 14per $1,000 of assets in 15excess of $1,000,000 16Over $5,000,000 and not 17over $30,000,000 ............... $4,540 plus $0.397 18per $1,000 of assets 19in excess of $5,000,000 20Over $30,000,000 and not over 21$100,000,000....................$14,471 plus $0.34 22per $1,000 of assets 23 in excess of $30,000,000 24Over $100,000,000 and not 25over $500,000,000 ..............$38,306 plus $0.17 26per $1,000 of assets 1 $200,000 ....................... $400 plus $3 per 2 $1,000 of assets in excess of 3 $100,000 4 Over $200,000 and not over 5 $500,000 ....................... $700 plus $2 per 6 $1,000 of assets in excess of 7 $200,000 8 Over $500,000 and not over 9 $1,000,000 ..................... $1,300 plus $1.40 10 per $1,000 of assets in excess 11 of $500,000 12 Over $1,000,000 and not 13 over $5,000,000................. $2,000 plus $0.50 14 per $1,000 of assets in 15 excess of $1,000,000 16 Over $5,000,000 and not 17 over $30,000,000 ............... $4,540 plus $0.397 18 per $1,000 of assets 19 in excess of $5,000,000 20 Over $30,000,000 and not over 21 $100,000,000.................... $14,471 plus $0.34 22 per $1,000 of assets 23 in excess of $30,000,000 24 Over $100,000,000 and not 25 over $500,000,000 .............. $38,306 plus $0.17 26 per $1,000 of assets
	45	+	1 $200,000 ....................... $400 plus $3 per
	46	+	2 $1,000 of assets in excess of
	47	+	3 $100,000
	48	+	4 Over $200,000 and not over
	49	+	5 $500,000 ....................... $700 plus $2 per
	50	+	6 $1,000 of assets in excess of
	51	+	7 $200,000
	52	+	8 Over $500,000 and not over
	53	+	9 $1,000,000 ..................... $1,300 plus $1.40
	54	+	10 per $1,000 of assets in excess
	55	+	11 of $500,000
	56	+	12 Over $1,000,000 and not
	57	+	13 over $5,000,000................. $2,000 plus $0.50
	58	+	14 per $1,000 of assets in
	59	+	15 excess of $1,000,000
	60	+	16 Over $5,000,000 and not
	61	+	17 over $30,000,000 ............... $4,540 plus $0.397
	62	+	18 per $1,000 of assets
	63	+	19 in excess of $5,000,000
	64	+	20 Over $30,000,000 and not over
	65	+	21 $100,000,000.................... $14,471 plus $0.34
	66	+	22 per $1,000 of assets
	67	+	23 in excess of $30,000,000
	68	+	24 Over $100,000,000 and not
	69	+	25 over $500,000,000 .............. $38,306 plus $0.17
	70	+	26 per $1,000 of assets
97	71
98	72
99		-	in excess of $100,000,000 Over $500,000,000 ..............$106,406 plus $0.056 per $1,000 of assets in excess of $500,000,000 in excess of $100,000,000 Over $500,000,000 .............. $106,406 plus $0.056 per $1,000 of assets in excess of $500,000,000
100		-	in excess of $100,000,000
101		-	Over $500,000,000 .............. $106,406 plus $0.056
102		-	per $1,000 of assets
103		-	in excess of $500,000,000
104		-	(2) The Secretary shall review the regulatory fee schedule
105		-	in subsection (1) and the projected earnings on those fees on
106		-	an annual basis and adjust the fee schedule no more than 5%
107		-	annually if necessary to defray the estimated administrative
108		-	and operational expenses of the Credit Union Section of the
109		-	Department as defined in subsection (5). However, the fee
110		-	schedule shall not be increased if the amount remaining in the
111		-	Credit Union Fund at the end of any fiscal year is greater than
112		-	25% of the total actual and operational expenses incurred by
113		-	the State in administering and enforcing the Illinois Credit
114		-	Union Act and other laws, rules, and regulations as may apply
115		-	to the administration and enforcement of the foregoing laws,
116		-	rules, and regulations as amended from time to time for the
117		-	preceding fiscal year. The regulatory fee for the next fiscal
118		-	year shall be calculated by the Secretary based on the credit
119		-	union's total assets as of December 31 of the preceding
120		-	calendar year. The Secretary shall provide credit unions with
121		-	written notice of any adjustment made in the regulatory fee
122		-	schedule.
123		-	(3) A credit union shall pay to the Department a
124		-	regulatory fee in quarterly installments equal to one-fourth
125		-	of the regulatory fee due in accordance with the regulatory
126		-
127		-	in excess of $100,000,000
128		-	Over $500,000,000 .............. $106,406 plus $0.056
129		-	per $1,000 of assets
130		-	in excess of $500,000,000
131	73
132	74
133		-	fee schedule in subsection (1), on the basis of assets as of
134		-	the Year-end Call Report of the preceding calendar year. The
135		-	total annual regulatory fee shall not be less than $100 or more
136		-	than $210,000 $141,875, provided that the regulatory fee cap
137		-	of $210,000 $141,875 shall be adjusted to incorporate the same
138		-	percentage increase as the Secretary makes in the regulatory
139		-	fee schedule from time to time under subsection (2). No
140		-	regulatory fee shall be collected from a credit union until it
141		-	has been in operation for one year. The regulatory fee shall be
142		-	billed to credit unions on a quarterly basis and it shall be
143		-	payable by credit unions on the due date for the Call Report
144		-	for the subject quarter.
145		-	(4) The aggregate of all fees collected by the Department
146		-	under this Act shall be paid promptly after they are received,
147		-	accompanied by a detailed statement thereof, into the State
148		-	Treasury and shall be set apart in the Credit Union Fund, a
149		-	special fund hereby created in the State treasury. The amount
150		-	from time to time deposited in the Credit Union Fund and shall
151		-	be used to offset the ordinary administrative and operational
152		-	expenses of the Credit Union Section of the Department under
153		-	this Act. All earnings received from investments of funds in
154		-	the Credit Union Fund shall be deposited into the Credit Union
155		-	Fund and may be used for the same purposes as fees deposited
156		-	into that fund. Moneys deposited in the Credit Union Fund may
157		-	be transferred to the Professions Indirect Cost Fund, as
158		-	authorized under Section 2105-300 of the Department of
	75	+
	76	+	HB3296 Enrolled - 2 - LRB103 27828 BMS 54206 b
	77	+
	78	+	1 $200,000 ....................... $400 plus $3 per
	79	+	2 $1,000 of assets in excess of
	80	+	3 $100,000
	81	+	4 Over $200,000 and not over
	82	+	5 $500,000 ....................... $700 plus $2 per
	83	+	6 $1,000 of assets in excess of
	84	+	7 $200,000
	85	+	8 Over $500,000 and not over
	86	+	9 $1,000,000 ..................... $1,300 plus $1.40
	87	+	10 per $1,000 of assets in excess
	88	+	11 of $500,000
	89	+	12 Over $1,000,000 and not
	90	+	13 over $5,000,000................. $2,000 plus $0.50
	91	+	14 per $1,000 of assets in
	92	+	15 excess of $1,000,000
	93	+	16 Over $5,000,000 and not
	94	+	17 over $30,000,000 ............... $4,540 plus $0.397
	95	+	18 per $1,000 of assets
	96	+	19 in excess of $5,000,000
	97	+	20 Over $30,000,000 and not over
	98	+	21 $100,000,000.................... $14,471 plus $0.34
	99	+	22 per $1,000 of assets
	100	+	23 in excess of $30,000,000
	101	+	24 Over $100,000,000 and not
	102	+	25 over $500,000,000 .............. $38,306 plus $0.17
	103	+	26 per $1,000 of assets
159	104
160	105
161		-	Professional Regulation Law of the Civil Administrative Code
162		-	of Illinois.
163		-	Notwithstanding provisions in the State Finance Act, as
164		-	now or hereafter amended, or any other law to the contrary, the
165		-	Governor may, during any fiscal year through January 10, 2011,
166		-	from time to time direct the State Treasurer and Comptroller
167		-	to transfer a specified sum not exceeding 10% of the revenues
168		-	to be deposited into the Credit Union Fund during that fiscal
169		-	year from that Fund to the General Revenue Fund in order to
170		-	help defray the State's operating costs for the fiscal year.
171		-	Notwithstanding provisions in the State Finance Act, as now or
172		-	hereafter amended, or any other law to the contrary, the total
173		-	sum transferred from the Credit Union Fund to the General
174		-	Revenue Fund pursuant to this provision shall not exceed
175		-	during any fiscal year 10% of the revenues to be deposited into
176		-	the Credit Union Fund during that fiscal year. The State
177		-	Treasurer and Comptroller shall transfer the amounts
178		-	designated under this Section as soon as may be practicable
179		-	after receiving the direction to transfer from the Governor.
180		-	(5) The administrative and operational expenses for any
181		-	fiscal year shall mean the ordinary and contingent expenses
182		-	for that year incidental to making the examinations provided
183		-	for by, and for administering, this Act, including all
184		-	salaries and other compensation paid for personal services
185		-	rendered for the State by officers or employees of the State to
186		-	enforce this Act; all expenditures for telephone and telegraph
	106	+	HB3296 Enrolled- 3 -LRB103 27828 BMS 54206 b HB3296 Enrolled - 3 - LRB103 27828 BMS 54206 b
	107	+	HB3296 Enrolled - 3 - LRB103 27828 BMS 54206 b
	108	+	1in excess of $100,000,000 2Over $500,000,000 ..............$106,406 plus $0.056 3per $1,000 of assets 4in excess of $500,000,000 1 in excess of $100,000,000 2 Over $500,000,000 .............. $106,406 plus $0.056 3 per $1,000 of assets 4 in excess of $500,000,000
	109	+	1 in excess of $100,000,000
	110	+	2 Over $500,000,000 .............. $106,406 plus $0.056
	111	+	3 per $1,000 of assets
	112	+	4 in excess of $500,000,000
	113	+	5 (2) The Secretary shall review the regulatory fee schedule
	114	+	6 in subsection (1) and the projected earnings on those fees on
	115	+	7 an annual basis and adjust the fee schedule no more than 5%
	116	+	8 annually if necessary to defray the estimated administrative
	117	+	9 and operational expenses of the Credit Union Section of the
	118	+	10 Department as defined in subsection (5). However, the fee
	119	+	11 schedule shall not be increased if the amount remaining in the
	120	+	12 Credit Union Fund at the end of any fiscal year is greater than
	121	+	13 25% of the total actual and operational expenses incurred by
	122	+	14 the State in administering and enforcing the Illinois Credit
	123	+	15 Union Act and other laws, rules, and regulations as may apply
	124	+	16 to the administration and enforcement of the foregoing laws,
	125	+	17 rules, and regulations as amended from time to time for the
	126	+	18 preceding fiscal year. The regulatory fee for the next fiscal
	127	+	19 year shall be calculated by the Secretary based on the credit
	128	+	20 union's total assets as of December 31 of the preceding
	129	+	21 calendar year. The Secretary shall provide credit unions with
	130	+	22 written notice of any adjustment made in the regulatory fee
	131	+	23 schedule.
	132	+	24 (3) A credit union shall pay to the Department a
	133	+	25 regulatory fee in quarterly installments equal to one-fourth
	134	+	26 of the regulatory fee due in accordance with the regulatory
187	135
188	136
189		-	charges, postage and postal charges, office supplies and
190		-	services, furniture and equipment, office space and
191		-	maintenance thereof, travel expenses and other necessary
192		-	expenses; all to the extent that such expenditures are
193		-	directly incidental to such examination or administration.
194		-	(6) When the balance in the Credit Union Fund at the end of
195		-	a fiscal year exceeds 25% of the total administrative and
196		-	operational expenses incurred by the State in administering
197		-	and enforcing the Illinois Credit Union Act and other laws,
198		-	rules, and regulations as may apply to the administration and
199		-	enforcement of the foregoing laws, rules, and regulations as
200		-	amended from time to time for that fiscal year, such excess
201		-	shall be credited to credit unions and applied against their
202		-	regulatory fees for the subsequent fiscal year. The amount
203		-	credited to each credit union shall be in the same proportion
204		-	as the regulatory fee paid by such credit union for the fiscal
205		-	year in which the excess is produced bears to the aggregate
206		-	amount of all fees collected by the Department under this Act
207		-	for the same fiscal year.
208		-	(7) (Blank).
209		-	(8) Nothing in this Act shall prohibit the General
210		-	Assembly from appropriating funds to the Department from the
211		-	General Revenue Fund for the purpose of administering this
212		-	Act.
213		-	(9) For purposes of this Section, "fiscal year" means a
214		-	period beginning on July 1 of any calendar year and ending on
215	137
216	138
217		-	June 30 of the next calendar year.
218		-	(Source: P.A. 100-201, eff. 8-18-17.)
	139	+
	140	+	HB3296 Enrolled - 3 - LRB103 27828 BMS 54206 b
	141	+
	142	+	1 in excess of $100,000,000
	143	+	2 Over $500,000,000 .............. $106,406 plus $0.056
	144	+	3 per $1,000 of assets
	145	+	4 in excess of $500,000,000
	146	+
	147	+
	148	+	HB3296 Enrolled- 4 -LRB103 27828 BMS 54206 b HB3296 Enrolled - 4 - LRB103 27828 BMS 54206 b
	149	+	HB3296 Enrolled - 4 - LRB103 27828 BMS 54206 b
	150	+	1 fee schedule in subsection (1), on the basis of assets as of
	151	+	2 the Year-end Call Report of the preceding calendar year. The
	152	+	3 total annual regulatory fee shall not be less than $100 or more
	153	+	4 than $210,000 $141,875, provided that the regulatory fee cap
	154	+	5 of $210,000 $141,875 shall be adjusted to incorporate the same
	155	+	6 percentage increase as the Secretary makes in the regulatory
	156	+	7 fee schedule from time to time under subsection (2). No
	157	+	8 regulatory fee shall be collected from a credit union until it
	158	+	9 has been in operation for one year. The regulatory fee shall be
	159	+	10 billed to credit unions on a quarterly basis and it shall be
	160	+	11 payable by credit unions on the due date for the Call Report
	161	+	12 for the subject quarter.
	162	+	13 (4) The aggregate of all fees collected by the Department
	163	+	14 under this Act shall be paid promptly after they are received,
	164	+	15 accompanied by a detailed statement thereof, into the State
	165	+	16 Treasury and shall be set apart in the Credit Union Fund, a
	166	+	17 special fund hereby created in the State treasury. The amount
	167	+	18 from time to time deposited in the Credit Union Fund and shall
	168	+	19 be used to offset the ordinary administrative and operational
	169	+	20 expenses of the Credit Union Section of the Department under
	170	+	21 this Act. All earnings received from investments of funds in
	171	+	22 the Credit Union Fund shall be deposited into the Credit Union
	172	+	23 Fund and may be used for the same purposes as fees deposited
	173	+	24 into that fund. Moneys deposited in the Credit Union Fund may
	174	+	25 be transferred to the Professions Indirect Cost Fund, as
	175	+	26 authorized under Section 2105-300 of the Department of
	176	+
	177	+
	178	+
	179	+
	180	+
	181	+	HB3296 Enrolled - 4 - LRB103 27828 BMS 54206 b
	182	+
	183	+
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	186	+	1 Professional Regulation Law of the Civil Administrative Code
	187	+	2 of Illinois.
	188	+	3 Notwithstanding provisions in the State Finance Act, as
	189	+	4 now or hereafter amended, or any other law to the contrary, the
	190	+	5 Governor may, during any fiscal year through January 10, 2011,
	191	+	6 from time to time direct the State Treasurer and Comptroller
	192	+	7 to transfer a specified sum not exceeding 10% of the revenues
	193	+	8 to be deposited into the Credit Union Fund during that fiscal
	194	+	9 year from that Fund to the General Revenue Fund in order to
	195	+	10 help defray the State's operating costs for the fiscal year.
	196	+	11 Notwithstanding provisions in the State Finance Act, as now or
	197	+	12 hereafter amended, or any other law to the contrary, the total
	198	+	13 sum transferred from the Credit Union Fund to the General
	199	+	14 Revenue Fund pursuant to this provision shall not exceed
	200	+	15 during any fiscal year 10% of the revenues to be deposited into
	201	+	16 the Credit Union Fund during that fiscal year. The State
	202	+	17 Treasurer and Comptroller shall transfer the amounts
	203	+	18 designated under this Section as soon as may be practicable
	204	+	19 after receiving the direction to transfer from the Governor.
	205	+	20 (5) The administrative and operational expenses for any
	206	+	21 fiscal year shall mean the ordinary and contingent expenses
	207	+	22 for that year incidental to making the examinations provided
	208	+	23 for by, and for administering, this Act, including all
	209	+	24 salaries and other compensation paid for personal services
	210	+	25 rendered for the State by officers or employees of the State to
	211	+	26 enforce this Act; all expenditures for telephone and telegraph
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	222	+	1 charges, postage and postal charges, office supplies and
	223	+	2 services, furniture and equipment, office space and
	224	+	3 maintenance thereof, travel expenses and other necessary
	225	+	4 expenses; all to the extent that such expenditures are
	226	+	5 directly incidental to such examination or administration.
	227	+	6 (6) When the balance in the Credit Union Fund at the end of
	228	+	7 a fiscal year exceeds 25% of the total administrative and
	229	+	8 operational expenses incurred by the State in administering
	230	+	9 and enforcing the Illinois Credit Union Act and other laws,
	231	+	10 rules, and regulations as may apply to the administration and
	232	+	11 enforcement of the foregoing laws, rules, and regulations as
	233	+	12 amended from time to time for that fiscal year, such excess
	234	+	13 shall be credited to credit unions and applied against their
	235	+	14 regulatory fees for the subsequent fiscal year. The amount
	236	+	15 credited to each credit union shall be in the same proportion
	237	+	16 as the regulatory fee paid by such credit union for the fiscal
	238	+	17 year in which the excess is produced bears to the aggregate
	239	+	18 amount of all fees collected by the Department under this Act
	240	+	19 for the same fiscal year.
	241	+	20 (7) (Blank).
	242	+	21 (8) Nothing in this Act shall prohibit the General
	243	+	22 Assembly from appropriating funds to the Department from the
	244	+	23 General Revenue Fund for the purpose of administering this
	245	+	24 Act.
	246	+	25 (9) For purposes of this Section, "fiscal year" means a
	247	+	26 period beginning on July 1 of any calendar year and ending on
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	258	+	1 June 30 of the next calendar year.
	259	+	2 (Source: P.A. 100-201, eff. 8-18-17.)
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