Illinois Senate Bill 2229 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 10 2023 - 25% progression, died in committee
Action: 2023-06-26 - Senate Floor Amendment No. 1 Pursuant to Senate Rule 3-9(b) / Referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Credit Union Act. Provides that the regulatory fee schedule shall not be increased if the amount remaining in the Credit Union Fund at the end of any fiscal year is greater than 25% of that fiscal year's total initial appropriations, or the most recent fiscal year for which there is an initial appropriations, relating to the administration and enforcement of the provisions and other related laws, rules, and regulations (rather than the total actual and operational expenses incurred by the State in administering and enforcing the provisions and other laws, rules, and regulations as may apply to the administration and enforcement of laws, rules, and regulations for the preceding fiscal year). Provides that when the balance in the Credit Union Fund at the end of a fiscal year exceeds 25% of that fiscal year's total initial appropriations relating to the administration and enforcement of the provisions and other related laws, rules, and regulations (rather than the total administrative and operational expenses incurred by the State in administering and enforcing the provisions), the excess shall be credited to credit unions and applied against their regulatory fees for the subsequent fiscal year. Provides that the amount credited to each credit union shall be in the same proportion as the regulatory fee paid by that credit union for the fiscal year in which the excess is produced bears to the aggregate amount of all regulatory fees (rather than fees) collected by the Department of Financial and Professional Regulation under the provisions for the same fiscal year. Removes a regulatory fee cap of $141,875. Makes other changes.

CREDIT UNION REGULATORY FEES

Sen. Laura Ellman [D]

Date	Chamber	Action
2023-06-26	Senate	Senate Floor Amendment No. 1 Pursuant to Senate Rule 3-9(b) / Referred to Assignments
2023-04-28	Senate	Rule 3-9(a) / Re-referred to Assignments
2023-03-31	Senate	Rule 2-10(a) Third Reading Deadline Established As April 28, 2023
2023-03-29	Senate	Placed on Calendar Order of 3rd Reading March 30, 2023
2023-03-29	Senate	Second Reading
2023-03-28	Senate	Senate Floor Amendment No. 1 Assignments Refers to Financial Institutions
2023-03-23	Senate	Senate Floor Amendment No. 1 Referred to Assignments
2023-03-23	Senate	Senate Floor Amendment No. 1 Filed with Secretary by Sen. Laura Ellman
2023-03-08	Senate	Placed on Calendar Order of 2nd Reading March 9, 2023
2023-03-08	Senate	Do Pass Financial Institutions; 005-003-000
2023-02-28	Senate	Assigned to Financial Institutions
2023-02-10	Senate	Referred to Assignments
2023-02-10	Senate	First Reading
2023-02-10	Senate	Filed with Secretary by Sen. Laura Ellman

Chapter	Article	Section	Citation Type	Statute Text
205	305	12	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2229&GAID=17&DocTypeID=SB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/SB/10300SB2229.htm
Amendment	https://www.ilga.gov/legislation/103/SB/10300SB2229sam001.htm