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Rep. Frank J. Mautino
Filed: 5/25/2010
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09600SB2101ham002 |
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LRB096 11443 RCE 41746 a |
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| AMENDMENT TO SENATE BILL 2101
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| AMENDMENT NO. ______. Amend Senate Bill 2101, AS AMENDED, |
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| by replacing everything after the enacting clause with the |
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| following:
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| "Section 5. The State Finance Act is amended by adding |
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| Section 6z-11.5 as follows:
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| (30 ILCS 105/6z-11.5 new) |
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| Sec. 6z-11.5. Transfers to Illinois Department of |
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| Financial and Professional Regulation funds. On and after July |
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| 1, 2010 and through June 30, 2011, when any fund supporting the |
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| oversight or regulation of an industry or profession that is |
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| subject to the authority of the Illinois Department of |
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| Financial and Professional Regulation has insufficient cash |
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| from which the State Comptroller may make expenditures properly |
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| supported by appropriations from the fund, then the Illinois |
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| Department of Financial and Professional Regulation may |
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09600SB2101ham002 |
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LRB096 11443 RCE 41746 a |
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| transfer moneys on deposit in an account maintained in a |
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| commercial bank or corporate fiduciary in the name of the |
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| Illinois Bank Examiners' Education Foundation to the Illinois |
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| Department of Financial and Professional Regulation fund with |
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| insufficient cash, in such amount as is necessary to satisfy |
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| outstanding expenditure obligations on a timely basis, subject |
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| to the provisions of the State Prompt Payment Act. The |
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| aggregate amount of funds transferred from an account |
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| maintained in a commercial bank or corporate fiduciary in the |
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| name of the Illinois Bank Examiners' Education Foundation to |
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| the Illinois Department of Financial and Professional |
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| Regulation shall not exceed $5,000,000, which amount is equal |
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| to the sum deposited into the Illinois Bank Examiners' |
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| Education Fund under the Order of Assessment of a Civil Money |
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| Penalty, Monetary Payment and Order to File Reports Issued Upon |
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| Consent in the matter captioned FRB Dkt. No. 05-035-CMP-FB, |
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| plus proceeds accrued from the investment of that sum since the |
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| date of deposit.
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| Section 99. Effective date. This Act takes effect July 1, |
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| 2010.".
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