Amends the State Finance Act. Excludes moneys received by the Department of Financial and Professional Regulation under the Illinois Credit Union Act from those moneys required to be deposited into the Financial Institution Fund. Makes certain provisions concerning transfers to the General Revenue Fund inapplicable to (i) any fund established under the Illinois Credit Union Act, the Illinois Banking Act, the Illinois Savings and Loan Act of 1985, or the Savings Bank Act and (ii) the Professions Indirect Cost Fund. Limits transfers and expenditures from those funds to specified purposes. Prohibits the allocation or transfer of additional amounts generated by certain fee increases with respect to or from the Credit Union Fund. Amends the Illinois Banking Act, the Illinois Savings and Loan Act of 1985, and the Savings Bank Act. With respect to the moneys in each of the Bank and Trust Company Fund, the Savings and Residential Finance Regulatory Fund, and the Credit Union Fund, (i) exempts those moneys from assignment or transfer except for unappropriated administrative expenses and (ii) provides that the moneys remain the property of and must be held in trust for the financial institutions from which they were collected. For FY08, requires the Commissioner of Banks and Real Estate (now, the Director of the Division of Banks and Real Estate) to adopt rules to adjust regulatory fee rates in the specified manner. Amends the Illinois Credit Union Act. Provides that the regulatory fee paid by a credit union to the Department of Financial and Professional Regulation shall be the lesser of (i) the rate pursuant to the regulatory fee schedule or (ii) a rate established in a manner proportionately consistent with the rates in the regulatory fee schedule and that would fund the actual administrative and operational expenses of the Credit Union Section. Increases rates in the regulatory fee schedule for credit unions with total assets over $5,000,000. Requires the Director of Financial and Professional Regulation to adjust the fee schedule for the next fiscal year. Provides that the fee schedule may be increased by no more than 5% annually if necessary to defray the actual (now, estimated) administrative and operational expenses of the Credit Union Section (now, the Department). Prohibits any increase in the fee schedule if the amount remaining in the Credit Union Fund at the end of the fiscal year is equal to or greater than 25% of the actual administrative and operational expenses for the preceding fiscal year. Requires the Director to base the regulatory fee for the next fiscal year on the credit union's total assets as of December 31 of the preceding calendar year. Beginning on July 1, 2005, requires a credit union to pay the regulatory fee in quarterly installments due and payable on the due date for the call report for the preceding quarter (now, a credit union is required to pay the regulatory fee in full no later than March 1 of each calendar year). Provides for a regulatory fee cap of $125,000 (now, $187,500). Effective immediately.
Sponsored bills
Amends the Regulatory Sunset Act. Extends the repeal of the Illinois Dental Practice Act to January 1, 2016. Effective immediately.
Amends the Property Tax Code. Provides that all property belonging to any water co-operative organized or existing under the Co-operative Act is exempt from taxation under the Property Tax Code.
Amends the State Finance Act. Provides that, in each fiscal year in which the State's cash balance at the end of the fiscal year is in excess of $750,000,000, that excess must be transferred into the State Pensions Fund for immediate disbursement. Provides that the State Pensions Fund shall also include moneys appropriated or otherwise transferred into that Fund, as otherwise provided by law. Effective immediately.
Appropriates $2 from the General Revenue Fund to the Department of Agriculture for its FY07 ordinary and contingent expenses. Effective July 1, 2006.
Amends the Environmental Protection Act. Makes a technical change in a Section concerning the short title.
Amends the Emergency Telephone System Act. Authorizes the transfer of moneys in the Emergency Telephone System Fund to a participating fire protection district to reimburse volunteer firefighters that man remote telephone switching facilities when dedicated 9-1-1 lines are down. Makes other changes.
Amends the Budget Stabilization Act. Further limits the General Assembly's appropriations, transfers, and diversions from general funds in fiscal years in which estimated revenues exceed the prior fiscal year's general funds revenues and requires the transfer of the remaining revenue to the State-funded retirement systems. Sets forth requirements for the transfers to the retirement systems. Effective immediately.
Amends the Environmental Protection Act. Reduces the NPDES fees for certain facilities with a Design Average Flow rate of at least 500,000 gallons per day but less than 5,000,000 gallons per day. Provides that the Environmental Protection Agency may refund the difference between any fee amounts paid and the reduced fee amounts due under this amendatory Act. Effective immediately.
Creates the Rapid Reduction of Asian Carp Population Pilot Program Act. Authorizes the Department of Natural Resources, subject to appropriation, to award grants to organizations that develop and implement programs to reduce the number of Asian carp in the Illinois River. Specifies how grants may be used. Repeals the Act on July 1, 2010. Amends the State Finance Act to create a special fund in the State treasury for the funding of the grants. Effective immediately.