SB3853 Summary

• Appropriates $84,185,200 from Other State Funds to the Department of Financial and Professional Regulation for fiscal year beginning July 1, 2010.

• Distributes funds across multiple regulatory programs including Financial Institution Fund ($5.1M), Credit Union Fund ($3.0M), Bank and Trust Company Fund ($16.7M), Real Estate Licensing ($3.8M), and various professional discipline funds.

• Allocates funds for personnel services, employee retirement contributions, social security, group insurance, contractual services, travel, and refunds across all departmental operations.

• Includes $500,000 for establishment and operation of an Illinois Center for Nursing and $2.5M for a Regulatory/G&A shared services center.

• Takes effect July 1, 2010.