30 ILCS 212/ State Treasurer's Bank Services Trust Fund Act.

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30 ILCS 212/1

(30 ILCS 212/1)

Sec. 1.

Short title.

This Act may be cited as the State Treasurer's Bank Services Trust Fund Act.

(Source: P.A. 87-1035.)

30 ILCS 212/2

(30 ILCS 212/2)

Sec. 2.

Policy.

The State Treasurer has been
granted authority to enter into banking service agreements with financial
institutions
to carry out his or her constitutional and statutory responsibilities.  Public
entities have traditionally
paid for services rendered pursuant to such agreements
through the deposit of funds in those institutions.
This method of compensation is generally inefficient and may result in
overcompensation of financial institutions.  It is in the public interest
to pay financial institutions at a level commensurate with the services
provided.

(Source: P.A. 89-153, eff. 7-14-95.)

30 ILCS 212/10

(30 ILCS 212/10)

Sec. 10. Creation of Fund.

There is hereby created in the State
treasury a special fund to be known as the State Treasurer's Bank Services
Trust Fund.  Moneys deposited in the Fund shall be used by the
State
Treasurer to pay the cost of the following banking services: processing
of payments of taxes, fees, and other moneys due the State; transactional, technological, consultant, legal service charges, and other operational expenses of the State Treasurer's Office related to the investment or safekeeping of funds under the Treasurer's
control; the provision of banking and automated teller machine services at State office buildings, State parks, State tourism centers, and State fairs at Springfield and DuQuoin; and the cost of paying bondholders and legal services under the State's general
obligation bond program.

(Source: P.A. 103-234, eff. 1-1-24.)

30 ILCS 212/15

(30 ILCS 212/15)

Sec. 15.

Fund deposits and payments.

The State Treasurer shall
transfer each month from the General Revenue Fund to the State Treasurer's
Bank Services Trust Fund one-twelfth of the amount appropriated annually by
the General Assembly for this purpose.  The Treasurer may waive the monthly
transfer of funds from the General Revenue Fund to the State Treasurer's Bank
Services Trust Fund if at any time he or she determines that the balance in the
State Treasurer's Bank Services Trust Fund is adequate to pay outstanding
obligations.

(Source: P.A. 89-153, eff. 7-14-95.)

30 ILCS 212/25

(30 ILCS 212/25)

Sec. 25.

This Act takes effect upon becoming law.

(Source: P.A. 87-1035.)