HB4350 Summary

• Appropriates $78,758,700 in Other State Funds for the Department of Financial and Professional Regulation's ordinary and contingent expenses for fiscal year beginning July 1, 2009.

• Funds distributed across multiple regulatory programs including Financial Institution ($4.3 million), Credit Union ($2.9 million), Bank and Trust Company ($14.4 million), Mortgage Banking ($4.3 million), Real Estate Licensing ($3.3 million), and professional discipline funds for medical, dental, and nursing professions.

• Appropriates $500,000 from Nursing Fund for establishment and operation of an Illinois Center for Nursing.

• Allocates $3,645,000 from Professions Indirect Cost Fund for a Regulatory/G&A shared services center.

• Act takes effect July 1, 2009.