IL HB5324

Amends the Electronic Fund Transfer Act by adding Section 41 to require financial institutions performing electronic fund transfers in Illinois to remit $0.01 per transfer to the Division of Banking of the Department of Financial and Professional Regulation.

Requires all remitted funds to be deposited into the Illinois DREAM Fund established under Section 67 of the Higher Education Student Assistance Act.

Applies to every electronic fund transfer performed in Illinois, creating an ongoing funding mechanism for the DREAM Fund.

Takes effect immediately upon becoming law.