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1 | AN ACT concerning State government.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The State Treasurer Act is amended by changing | ||||||
5 | Section 20 as follows: | ||||||
6 | (15 ILCS 505/20) | ||||||
7 | Sec. 20. State Treasurer administrative charge. The State | ||||||
8 | Treasurer may retain an administrative charge for both the | ||||||
9 | costs of services associated with the deposit of moneys that | ||||||
10 | are remitted directly to the State Treasurer and the investment | ||||||
11 | or safekeeping of funds by the State Treasurer . The | ||||||
12 | administrative charges charge collected under this Section | ||||||
13 | shall be deposited into the State Treasurer's Administrative | ||||||
14 | Fund. The amount of the administrative charges charge may be | ||||||
15 | determined by the State Treasurer . Administrative charges from | ||||||
16 | the deposit of moneys remitted directly to the State Treasurer | ||||||
17 | and shall not exceed 2% of the amount deposited. Administrative | ||||||
18 | charges from the investment or safekeeping of funds by the | ||||||
19 | State Treasurer shall be charged no more than monthly and the | ||||||
20 | total amount charged per fiscal year shall not exceed | ||||||
21 | $12,000,000 plus any amounts required as employer | ||||||
22 | contributions under Section 14-131 of the Illinois Pension Code | ||||||
23 | and Section 10 of the State Employees Group Insurance Act of |
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1 | 1971. | ||||||
2 | Administrative charges for the deposit of moneys This | ||||||
3 | Section shall apply to fines, fees, or other amounts remitted | ||||||
4 | directly to the State Treasurer by circuit clerks, county | ||||||
5 | clerks, and other entities for deposit into a fund in the State | ||||||
6 | treasury. Administrative charges for the deposit of moneys do | ||||||
7 | This Section does not apply to amounts remitted by State | ||||||
8 | agencies or certified collection specialists as defined in 74 | ||||||
9 | Ill. Admin. Code 1200.50. Administrative charges for the | ||||||
10 | deposit of moneys This Section shall apply only to any form of | ||||||
11 | fines, fees, or other collections created on or after August | ||||||
12 | 15, 2014 ( the effective date of Public Act 98-965) this | ||||||
13 | amendatory Act of the 98th General Assembly .
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14 | Moneys in the State Treasurer's Administrative Fund are | ||||||
15 | subject 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 | ||||||
18 | Act is amended by changing Section 10 as follows:
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19 | (30 ILCS 212/10)
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20 | Sec. 10. Creation of Fund. There is hereby created in the | ||||||
21 | State
treasury a special fund to be known as the State | ||||||
22 | Treasurer's Bank Services
Trust Fund. Moneys deposited in the | ||||||
23 | Fund shall be used by the
State
Treasurer to pay the cost of | ||||||
24 | the following banking services: processing
of payments of |
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1 | taxes, fees, and other moneys due the State; transactional, | ||||||
2 | technological, consultant, and legal service charges , and | ||||||
3 | other operational expenses of the State Treasurer's Office | ||||||
4 | related to the investment or safekeeping of funds under the | ||||||
5 | Treasurer's
control; and the cost of paying bondholders and | ||||||
6 | legal services under the State's general
obligation bond | ||||||
7 | program.
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8 | (Source: P.A. 98-909, eff. 8-15-14.)
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9 | Section 99. Effective date. This Act takes effect upon | ||||||
10 | becoming law.
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