HI HB2872

Repeals the requirement that $2,000,000 of tax revenues collected from banks and other financial corporations be deposited annually into the Compliance Resolution Fund, redirecting all such taxes to the general fund instead.

Authorizes the commissioner of financial institutions to adopt or amend rules imposing or increasing fees on banks and other financial corporations between July 1, 2010 and December 31, 2010 without public notice, public hearing, small business regulatory review, or fee increase limitations.

Requires all subsequent rule amendments after December 31, 2010 to comply with normal administrative procedures including public notice, hearing requirements, and fee increase limits.

Takes effect July 1, 2010 and sunsets December 31, 2015, at which point section 241-7 reverts to its original form requiring the $2,000,000 annual deposit to the Compliance Resolution Fund.