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| Public Act 100-0232 | ||||
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AN ACT concerning regulation.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Savings Bank Act is amended by changing | ||||
Section 9002.5 as follows: | ||||
(205 ILCS 205/9002.5) | ||||
Sec. 9002.5. Regulatory fees. | ||||
(a) Each For the fiscal year beginning July 1, 2007 and | ||||
every year thereafter, each savings bank and each service | ||||
corporation operating under this Act shall pay in quarterly | ||||
installments equal to one-fourth of a fixed fee of $520, plus a | ||||
regulatory variable fee based on the total assets of the | ||||
savings bank or service corporation, as shown in the quarterly | ||||
report of condition, at the following rates: | ||||
19.295 cents per $1,000 of the first $5,000,000 of | ||||
total assets; | ||||
18.16 cents per $1,000 of the next $20,000,000 of total
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assets; | ||||
15.89 cents per $1,000 of the next $75,000,000 of total
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assets; | ||||
10.7825 cents per $1,000 of the next $400,000,000 of
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total assets; | ||||
8.5125 cents per $1,000 of the next $500,000,000 of | ||||
total assets; | ||
6.2425 cents per $1,000 of the next $19,000,000,000 of
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total assets; | ||
2.27 cents per $1,000 of the next $30,000,000,000 of | ||
total assets; | ||
1.135 cents per $1,000 of the next $50,000,000,000 of
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total assets; and | ||
0.5675 cents per $1,000 of all assets in excess of | ||
$100,000,000,000 of the savings bank. | ||
24.97¢ per $1,000 of the first $2,000,000 of total | ||
assets; | ||
22.70¢ per $1,000 of the next $3,000,000 of total | ||
assets; | ||
20.43¢ per $1,000 of the next $5,000,000 of total | ||
assets; | ||
17.025¢ per $1,000 of the next $15,000,000 of total | ||
assets; | ||
14.755¢ per $1,000 of the next $25,000,000 of total | ||
assets; | ||
12.485¢ per $1,000 of the next $50,000,000 of total | ||
assets; | ||
10.215¢ per $1,000 of the next $400,000,000 of total | ||
assets; | ||
6.81¢ per $1,000 of the next $500,000,000 of total | ||
assets; and | ||
4.54¢ per $1,000 of all total assets in excess of | ||
$1,000,000,000 of such savings bank or service | ||
corporation. | ||
As used in this Section, "quarterly report of condition" | ||
means the Report of Condition and Income (Call Report), which | ||
the Secretary requires. | ||
(a-5) For any savings bank or service corporation operating
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under this Act that is examined by the Department between | ||
January 1,
2017 and the effective date of this amendatory Act | ||
of the 100th
General Assembly, a regulatory fee
shall not be | ||
due or paid to the Department for the first
billing of the | ||
regulatory fee immediately following the
effective date of this | ||
amendatory Act of the 100th General
Assembly. Any savings bank | ||
or service corporation subject to this subsection shall pay
the | ||
regulatory fee as prescribed in subsection (a) beginning
with | ||
the second billing of the regulatory fee by the Department
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following the effective date of this amendatory Act of the | ||
100th
General Assembly. | ||
(b) (Blank). | ||
(c) (Blank). The Secretary shall receive and there shall be | ||
paid to the Secretary by each savings bank and each service | ||
corporation a fee of $520 for each approved branch office or | ||
facility office established under the Illinois Administrative | ||
Code. The determination of the fees shall be made annually as | ||
of the close of business of the prior calendar year ended | ||
December 31.
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(d) The Secretary shall receive for each fiscal year, | ||
commencing with the fiscal year ending June 30, 2014, a | ||
contingent fee equal to the lesser of the aggregate of the fees | ||
paid by all savings banks under subsection subsections (a), | ||
(b), and (c) of this Section for that year, or the amount, if | ||
any, whereby the aggregate of the administration expenses, as | ||
defined in subsection (c) of Section 9002.1 of this Act, for | ||
that fiscal year exceeds the sum of the aggregate of the fees | ||
payable by all savings banks for that year under subsection | ||
subsections (a), (b), and (c) of this Section, plus any amounts | ||
transferred into the Savings Bank Regulatory Fund from the | ||
State Pensions Fund for that year, plus all other amounts | ||
collected by the Secretary for that year under any other | ||
provision of this Act. The aggregate amount of the contingent | ||
fee thus arrived at for any fiscal year shall be apportioned | ||
amongst, assessed upon, and paid by the savings banks, | ||
respectively, in the same proportion that the fee of each under | ||
subsection subsections (a), (b), and (c) of this Section, | ||
respectively, for that year bears to the aggregate for that | ||
year of the fees collected under subsection subsections (a), | ||
(b), and (c) of this Section. The aggregate amount of the | ||
contingent fee, and the portion thereof to be assessed upon | ||
each savings bank, respectively, shall be determined by the | ||
Secretary and shall be paid by each, respectively, within 120 | ||
days of the close of the period for which the contingent fee is | ||
computed and is payable, and the Secretary shall give 20 days' | ||
days advance notice of the amount of the contingent fee payable | ||
by the savings bank and of the date fixed by the Secretary for | ||
payment of the fee. | ||
(Source: P.A. 98-1081, eff. 1-1-15; 99-39, eff. 1-1-16; revised | ||
9-14-16.)
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Section 99. Effective date. This Act takes effect upon | ||
becoming law.
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