SB2857 EngrossedLRB100 17746 RJF 32919 b


  
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 20 as follows:
 
6    (15 ILCS 505/20)
7    Sec. 20. State Treasurer administrative charge.   The State 
8Treasurer may retain an administrative charge for both the 
9costs of services associated with the deposit of moneys that 
10are remitted directly to the State Treasurer and the investment 
11or safekeeping of funds by the State Treasurer.  The 
12administrative charges charge collected under this Section 
13shall be deposited into the State Treasurer's Administrative 
14Fund.  The amount of the administrative charges charge may be 
15determined by the State Treasurer. Administrative charges from 
16the deposit of moneys remitted directly to the State Treasurer 
17and shall not exceed 2% of the amount deposited. Administrative 
18charges from the investment or safekeeping of funds by the 
19State Treasurer shall be charged no more than monthly and the 
20total amount charged per fiscal year shall not exceed 
21$12,000,000 plus any amounts required as employer 
22contributions under Section 14-131 of the Illinois Pension Code 
23and Section 10 of the State Employees Group Insurance Act of 
 
 
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11971. 
2    Administrative charges for the deposit of moneys This 
3Section shall apply to fines, fees, or other amounts remitted 
4directly to the State Treasurer by circuit clerks, county 
5clerks, and other entities for deposit into a fund in the State 
6treasury. Administrative charges for the deposit of moneys do  
7This Section does not apply to amounts remitted by State 
8agencies or certified collection specialists as defined in 74 
9Ill. Admin. Code 1200.50. Administrative charges for the 
10deposit of moneys   This Section shall apply only to any form of 
11fines, fees, or other collections created on or after August 
1215, 2014 (the effective date of Public Act 98-965) this 
13amendatory Act of the 98th General Assembly.

14    Moneys in the State Treasurer's Administrative Fund are 
15subject to appropriation by the General Assembly. 
16(Source: P.A. 98-965, eff. 8-15-14.)
 
17    Section 10. The State Treasurer's Bank Services Trust Fund 
18Act is amended  by changing Section 10 as follows:
 



19    (30 ILCS 212/10)



20    Sec. 10. Creation of Fund. There is hereby created in the 
21State
treasury a special fund to be known as the State 
22Treasurer's Bank Services
Trust Fund.  Moneys deposited in the 
23Fund shall be used by the
State
Treasurer to pay the cost of 
24the following banking services: processing
of payments of 
 
 
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1taxes, fees, and other moneys due the State; transactional, 
2technological, consultant, and legal service charges, and 
3other operational expenses of the State Treasurer's Office 
4related to the investment or safekeeping of funds under the 
5Treasurer's
control; and the cost of paying bondholders and 
6legal services under the State's general
obligation bond 
7program.

8(Source: P.A. 98-909, eff. 8-15-14.)

 

9    Section 99. Effective date. This Act takes effect upon 
10becoming law.