Illinois 103rd Regular Session Status: Enacted 4 D cosponsors

HB 3296 — CREDIT UNION REGULATORY FEES

Last action — Effective Date June 27, 2023

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed House
  4. ✓
    Passed Senate
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced February 17, 2023. Enacted.

Signed by Governor JB Pritzker (Democratic) on June 27, 2023.

Prognosis

Likely to advance 78% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 4 sponsors

    2 primary, 2 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (4 D).

  • Cleared a recorded vote

    Passed 6 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

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.

Bill Text

What changed in the latest version

7 added · 7 removed

Plain-language change summary

The bill HB 3296 has undergone a title change from "Engrossed" to "Enrolled," which usually signifies it has passed through all legislative stages and is ready for final approval. This change is important because it indicates the bill is moving toward becoming law, reflecting a step forward in the legislative process and demonstrating progress on the issues addressed by the bill.

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Latest
HB3296 Engrossed LRB103 27828 BMS 54206 b AN ACT concerning regulation.
HB3296 Enrolled LRB103 27828 BMS 54206 b AN ACT concerning regulation.
TOTAL ASSETS REGULATORY FEE $25,000 or less ................$100 Over $25,000 and not over $100,000 ......................$100 plus $4 per $1,000 of assets in excess of $25,000 Over $100,000 and not over HB3296 Engrossed - 2 - LRB103 27828 BMS 54206 b $200,000 ......................$400 plus $3 per $1,000 of assets in excess of $100,000 Over $200,000 and not over $500,000 ......................$700 plus $2 per $1,000 of assets in excess of $200,000 Over $500,000 and not over $1,000,000 ....................$1,300 plus $1.40 per $1,000 of assets in excess of $500,000 Over $1,000,000 and not over $5,000,000................$2,000 plus $0.50 per $1,000 of assets in excess of $1,000,000 Over $5,000,000 and not over $30,000,000 ..............$4,540 plus $0.397 per $1,000 of assets in excess of $5,000,000 Over $30,000,000 and not over $100,000,000 ..................$14,471 plus $0.34 per $1,000 of assets in excess of $30,000,000 Over $100,000,000 and not over $500,000,000..............$38,306 plus $0.17 per $1,000 of assets HB3296 Engrossed - 3 - LRB103 27828 BMS 54206 b in excess of $100,000,000 Over $500,000,000..............$106,406 plus $0.056 per $1,000 of assets in excess of $500,000,000 (2) The Secretary shall review the regulatory fee schedule in subsection (1) and the projected earnings on those fees on an annual basis and adjust the fee schedule no more than 5% annually if necessary to defray the estimated administrative and operational expenses of the Credit Union Section of the Department as defined in subsection (5).
TOTAL ASSETS REGULATORY FEE $25,000 or less ................$100 Over $25,000 and not over $100,000 ......................$100 plus $4 per $1,000 of assets in excess of $25,000 Over $100,000 and not over HB3296 Enrolled - 2 - LRB103 27828 BMS 54206 b $200,000 ......................$400 plus $3 per $1,000 of assets in excess of $100,000 Over $200,000 and not over $500,000 ......................$700 plus $2 per $1,000 of assets in excess of $200,000 Over $500,000 and not over $1,000,000 ....................$1,300 plus $1.40 per $1,000 of assets in excess of $500,000 Over $1,000,000 and not over $5,000,000................$2,000 plus $0.50 per $1,000 of assets in excess of $1,000,000 Over $5,000,000 and not over $30,000,000 ..............$4,540 plus $0.397 per $1,000 of assets in excess of $5,000,000 Over $30,000,000 and not over $100,000,000 ..................$14,471 plus $0.34 per $1,000 of assets in excess of $30,000,000 Over $100,000,000 and not over $500,000,000..............$38,306 plus $0.17 per $1,000 of assets HB3296 Enrolled - 3 - LRB103 27828 BMS 54206 b in excess of $100,000,000 Over $500,000,000..............$106,406 plus $0.056 per $1,000 of assets in excess of $500,000,000 (2) The Secretary shall review the regulatory fee schedule in subsection (1) and the projected earnings on those fees on an annual basis and adjust the fee schedule no more than 5% annually if necessary to defray the estimated administrative and operational expenses of the Credit Union Section of the Department as defined in subsection (5).
(3) A credit union shall pay to the Department a regulatory fee in quarterly installments equal to one-fourth of the regulatory fee due in accordance with the regulatory HB3296 Engrossed - 4 - LRB103 27828 BMS 54206 b fee schedule in subsection (1), on the basis of assets as of the Year-end Call Report of the preceding calendar year.
(3) A credit union shall pay to the Department a regulatory fee in quarterly installments equal to one-fourth of the regulatory fee due in accordance with the regulatory HB3296 Enrolled - 4 - LRB103 27828 BMS 54206 b fee schedule in subsection (1), on the basis of assets as of the Year-end Call Report of the preceding calendar year.
Moneys deposited in the Credit Union Fund may be transferred to the Professions Indirect Cost Fund, as authorized under Section 2105-300 of the Department of HB3296 Engrossed - 5 - LRB103 27828 BMS 54206 b Professional Regulation Law of the Civil Administrative Code of Illinois.
Moneys deposited in the Credit Union Fund may be transferred to the Professions Indirect Cost Fund, as authorized under Section 2105-300 of the Department of HB3296 Enrolled - 5 - LRB103 27828 BMS 54206 b Professional Regulation Law of the Civil Administrative Code of Illinois.
all expenditures for telephone and telegraph HB3296 Engrossed - 6 - LRB103 27828 BMS 54206 b charges, postage and postal charges, office supplies and services, furniture and equipment, office space and maintenance thereof, travel expenses and other necessary expenses;
all expenditures for telephone and telegraph HB3296 Enrolled - 6 - LRB103 27828 BMS 54206 b charges, postage and postal charges, office supplies and services, furniture and equipment, office space and maintenance thereof, travel expenses and other necessary expenses;
(9) For purposes of this Section, "fiscal year" means a period beginning on July 1 of any calendar year and ending on HB3296 Engrossed - 7 - LRB103 27828 BMS 54206 b June 30 of the next calendar year.
(9) For purposes of this Section, "fiscal year" means a period beginning on July 1 of any calendar year and ending on HB3296 Enrolled - 7 - LRB103 27828 BMS 54206 b June 30 of the next calendar year.
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Amendments

3 amendments

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Action History

  1. Effective Date June 27, 2023

  2. Public Act . . . . . . . . . 103-0107

  3. Governor Approved

  4. Sent to the Governor

  5. Passed Both Houses

  6. Third Reading - Passed; 040-017-000

  7. Placed on Calendar Order of 3rd Reading May 17, 2023

  8. Second Reading

  9. Placed on Calendar Order of 2nd Reading

  10. Do Pass Financial Institutions; 005-000-000

  11. Rule 2-10 Third Reading Deadline Established As May 19, 2023

  12. Rule 2-10 Committee Deadline Established As May 21, 2023

  13. Rule 2-10 Third Reading Deadline Established As May 25, 2023

  14. Rule 2-10 Committee Deadline Established As May 19, 2023

  15. Assigned to Financial Institutions

  16. Referred to Assignments

  17. First Reading

  18. Chief Senate Sponsor Sen. Laura Ellman

  19. Placed on Calendar Order of First Reading

  20. Arrive in Senate

  21. Third Reading - Short Debate - Passed 068-040-000

  22. Placed on Calendar Order of 3rd Reading - Short Debate

  23. House Floor Amendment No. 3 Adopted

  24. House Floor Amendment No. 3 Recommends Be Adopted Financial Institutions and Licensing Committee; 008-004-000

  25. House Floor Amendment No. 3 Rules Refers to Financial Institutions and Licensing Committee

  26. House Floor Amendment No. 3 Referred to Rules Committee

  27. House Floor Amendment No. 3 Filed with Clerk by Rep. Margaret Croke

  28. House Floor Amendment No. 2 Referred to Rules Committee

  29. House Floor Amendment No. 2 Filed with Clerk by Rep. Margaret Croke

  30. Placed on Calendar 2nd Reading - Short Debate

  31. Approved for Consideration Rules Committee; 005-000-000

  32. Third Reading Deadline Extended-Rule May 19, 2023

  33. House Floor Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee

  34. Rule 19(a) / Re-referred to Rules Committee

  35. House Floor Amendment No. 1 Recommends Be Adopted Financial Institutions and Licensing Committee; 008-003-000

  36. Added Co-Sponsor Rep. Kam Buckner

  37. Held on Calendar Order of Second Reading - Short Debate

  38. Second Reading - Short Debate

  39. Added Co-Sponsor Rep. Dagmara Avelar

  40. House Floor Amendment No. 1 Rules Refers to Financial Institutions and Licensing Committee

  41. House Floor Amendment No. 1 Referred to Rules Committee

  42. House Floor Amendment No. 1 Filed with Clerk by Rep. Margaret Croke

  43. Placed on Calendar 2nd Reading - Short Debate

  44. Do Pass / Short Debate Financial Institutions and Licensing Committee; 008-004-000

  45. Assigned to Financial Institutions and Licensing Committee

  46. Referred to Rules Committee

  47. First Reading

  48. Filed with the Clerk by Rep. Margaret Croke

Sponsors

Sponsorship breakdown

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2 sponsors · 2 co-sponsors · 179 not signed on · 50 voted No

Sponsors (2)

Co-sponsors (2)

Not signed on (179)

179 members have not signed on to this bill.

Show all 179 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Third Reading

Passed 40 Yea · 17 Nay · 2 Other
Party YeaNayPresentNot Voting
Democrat 33000
Unaffiliated 5202
Republican 21500
Total 401702
% of votes cast 68%29%0%3%
How each member voted (59)
Member Party Vote
Gillespie — Yea
Harris, N. — Yea
Simmons — Yea
Stoller — Nay
Bennett — Nay
Pacione-Zayas — Not Voting
Glowiak Hilton — Yea
Loughran Cappel — Yea
Van Pelt — Not Voting
Bill Cunningham Democrat Yea
Celina Villanueva Democrat Yea
Christopher Belt Democrat Yea
Cristina Castro Democrat Yea
David Koehler Democrat Yea
Don Harmon Democrat Yea
Doris Turner Democrat Yea
Elgie R. Sims, Jr. Democrat Yea
Emil Jones, III Democrat Yea
Gregg Johnson Democrat Yea
Javier L. Cervantes Democrat Yea
Julie A. Morrison Democrat Yea
Karina Villa Democrat Yea
Kimberly A. Lightford Democrat Yea
Laura Ellman Democrat Yea
Laura Fine Democrat Yea
Laura M. Murphy Democrat Yea
Linda Holmes Democrat Yea
Mary Edly-Allen Democrat Yea
Mattie Hunter Democrat Yea
Michael E. Hastings Democrat Yea
Michael W. Halpin Democrat Yea
Mike Porfirio Democrat Yea
Omar Aquino Democrat Yea
Patrick J. Joyce Democrat Yea
Paul Faraci Democrat Yea
Rachel Ventura Democrat Yea
Ram Villivalam Democrat Yea
Robert F. Martwick Democrat Yea
Robert Peters Democrat Yea
Sara Feigenholtz Democrat Yea
Steve Stadelman Democrat Yea
Willie Preston Democrat Yea
Andrew S. Chesney Republican Nay
Chapin Rose Republican Nay
Craig Wilcox Republican Yea
Dale Fowler Republican Nay
Dan McConchie Republican Yea
Dave Syverson Republican Nay
Donald P. DeWitte Republican Nay
Erica Harriss Republican Nay
Jason Plummer Republican Nay
Jil Tracy Republican Nay
John F. Curran Republican Nay
Neil Anderson Republican Nay
Sally J. Turner Republican Nay
Seth Lewis Republican Nay
Steve McClure Republican Nay
Sue Rezin Republican Nay
Terri Bryant Republican Nay

Official roll call →

Third Reading

Passed 68 Yea · 40 Nay · 10 Other
Party YeaNayPresentNot Voting
Democrat 59006
Unaffiliated 9504
Republican 03500
Total 6840010
% of votes cast 58%34%0%8%
How each member voted (118)
Member Party Vote
Flowers — Yea
Ozinga — Nay
Caulkins — Nay
Egofske — Nay
Marron — Nay
Frese — Nay
Robinson — Not Voting
Yednock — Not Voting
Nichols — Yea
Ortiz — Yea
Burke — Yea
Carroll — Yea
Costa Howard — Yea
Faver Dias — Not Voting
Hernandez, Lisa — Yea
Ladisch Douglass — Not Voting
Williams, Jawaharial — Yea
Yang Rohr — Yea
Abdelnasser Rashid Democrat Yea
Angelica Guerrero-Cuellar Democrat Yea
Ann M. Williams Democrat Yea
Anna Moeller Democrat Yea
Anne Stava Democrat Yea
Anthony DeLuca Democrat Yea
Barbara Hernandez Democrat Yea
Bob Morgan Democrat Yea
Camille Y. Lilly Democrat Yea
Carol Ammons Democrat Yea
Curtis J. Tarver, II Democrat Yea
Dagmara Avelar Democrat Yea
Daniel Didech Democrat Yea
Dave Vella Democrat Yea
Debbie Meyers-Martin Democrat Not Voting
Diane Blair-Sherlock Democrat Yea
Edgar González, Jr. Democrat Yea
Emanuel "Chris" Welch Democrat Yea
Eva-Dina Delgado Democrat Yea
Fred Crespo Democrat Yea
Gregg Johnson Democrat Yea
Harry Benton Democrat Yea
Hoan Huynh Democrat Yea
Jaime M. Andrade, Jr. Democrat Yea
Jay Hoffman Democrat Yea
Jehan Gordon-Booth Democrat Yea
Jennifer Gong-Gershowitz Democrat Yea
Joyce Mason Democrat Yea
Justin Slaughter Democrat Yea
Kam Buckner Democrat Yea
Katie Stuart Democrat Yea
Kelly M. Cassidy Democrat Not Voting
Kevin John Olickal Democrat Yea
La Shawn K. Ford Democrat Yea
Lakesia Collins Democrat Yea
Lawrence "Larry" Walsh, Jr. Democrat Yea
Lilian Jiménez Democrat Yea
Lindsey LaPointe Democrat Yea
Marcus C. Evans, Jr. Democrat Yea
Margaret Croke Democrat Yea
Mark L. Walker Democrat Yea
Martin J. Moylan Democrat Yea
Mary Beth Canty Democrat Yea
Mary Gill Democrat Yea
Matt Hanson Democrat Not Voting
Maura Hirschauer Democrat Yea
Maurice A. West, II Democrat Not Voting
Michael J. Kelly Democrat Yea
Michelle Mussman Democrat Yea
Nabeela Syed Democrat Yea
Natalie A. Manley Democrat Yea
Nicholas K. Smith Democrat Yea
Norma Hernandez Democrat Yea
Rita Mayfield Democrat Yea
Robert "Bob" Rita Democrat Yea
Robyn Gabel Democrat Yea
Sharon Chung Democrat Yea
Sonya M. Harper Democrat Yea
Stephanie A. Kifowit Democrat Yea
Sue Scherer Democrat Yea
Suzanne M. Ness Democrat Yea
Thaddeus Jones Democrat Not Voting
Theresa Mah Democrat Yea
Will Guzzardi Democrat Yea
William "Will" Davis Democrat Not Voting
Adam M. Niemerg Republican Nay
Amy Elik Republican Nay
Amy L. Grant Republican Nay
Blaine Wilhour Republican Nay
Brad Halbrook Republican Nay
Brad Stephens Republican Nay
Bradley Fritts Republican Nay
Charles Meier Republican Nay
Chris Miller Republican Nay
Christopher "C.D." Davidsmeyer Republican Nay
Dan Swanson Republican Nay
Daniel J. Ugaste Republican Nay
Dave Severin Republican Nay
David Friess Republican Nay
Dennis Tipsword Republican Nay
Jackie Haas Republican Nay
Jason R. Bunting Republican Nay
Jed Davis Republican Nay
Jeff Keicher Republican Nay
Jennifer Sanalitro Republican Nay
Joe C. Sosnowski Republican Nay
John M. Cabello Republican Nay
Kevin Schmidt Republican Nay
Martin McLaughlin Republican Nay
Michael J. Coffey, Jr. Republican Nay
Norine K. Hammond Republican Nay
Patrick Windhorst Republican Nay
Paul Jacobs Republican Nay
Ryan Spain Republican Nay
Steven Reick Republican Nay
Tom Weber Republican Nay
Tony M. McCombie Republican Nay
Travis Weaver Republican Nay
Wayne A. Rosenthal Republican Nay
William E Hauter Republican Nay

Official roll call →

Financial Institutions & Licensing, Amendment 3

Passed 8 Yea · 4 Nay
Party YeaNayPresentNot Voting
Democrat 8000
Republican 0400
Total 8400
% of votes cast 67%33%0%0%
How each member voted (12)
Member Party Vote
Dagmara Avelar Democrat Yea
Daniel Didech Democrat Yea
Eva-Dina Delgado Democrat Yea
Kevin John Olickal Democrat Yea
Margaret Croke Democrat Yea
Mark L. Walker Democrat Yea
Natalie A. Manley Democrat Yea
Nicholas K. Smith Democrat Yea
Bradley Fritts Republican Nay
Christopher "C.D." Davidsmeyer Republican Nay
Daniel J. Ugaste Republican Nay
Ryan Spain Republican Nay

Official roll call →

Financial Institutions & Licensing, Amendment 1

Passed 8 Yea · 3 Nay · 1 Other
Party YeaNayPresentNot Voting
Democrat 8000
Republican 0301
Total 8301
% of votes cast 67%25%0%8%
How each member voted (12)
Member Party Vote
Dagmara Avelar Democrat Yea
Daniel Didech Democrat Yea
Eva-Dina Delgado Democrat Yea
Margaret Croke Democrat Yea
Mark L. Walker Democrat Yea
Natalie A. Manley Democrat Yea
Norma Hernandez Democrat Yea
Will Guzzardi Democrat Yea
Bradley Fritts Republican Nay
Christopher "C.D." Davidsmeyer Republican Nay
Daniel J. Ugaste Republican Not Voting
Ryan Spain Republican Nay

Official roll call →

Financial Institutions & Licensing

Passed 8 Yea · 4 Nay
Party YeaNayPresentNot Voting
Democrat 8000
Republican 0400
Total 8400
% of votes cast 67%33%0%0%
How each member voted (12)
Member Party Vote
Dagmara Avelar Democrat Yea
Daniel Didech Democrat Yea
Elizabeth "Lisa" Hernandez Democrat Yea
Eva-Dina Delgado Democrat Yea
Kevin John Olickal Democrat Yea
Margaret Croke Democrat Yea
Mark L. Walker Democrat Yea
Natalie A. Manley Democrat Yea
Bradley Fritts Republican Nay
Christopher "C.D." Davidsmeyer Republican Nay
Daniel J. Ugaste Republican Nay
Ryan Spain Republican Nay

Official roll call →

Subjects

finance
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Frequently asked questions

What does HB 3296 do?
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.
Who sponsors HB 3296?
HB 3296 is sponsored by Margaret Croke (Democrat), Dagmara Avelar (Democrat), Kam Buckner (Democrat), and Laura Ellman (Democrat).
What is the current status of HB 3296?
This bill has been enacted into law. Introduced February 17, 2023. Enacted.
Where can I track HB 3296?
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