SB 4021

Abstract

Amends the Illinois Credit Union Act to provide that there shall be no issuance of a regulatory fee credit to credit unions if the balance in the Credit Union Fund at the end of fiscal years ending June 30, 2020 and June 30, 2021 exceeds 25% of the total administrative and operational expenses incurred by the State. Provides that there shall be no adjustment in the regulatory fee schedule for fiscal years ending June 30, 2020 and June 30, 2021. Provides that the provision is inoperative after June 30, 2021. Effective immediately.