IL SB1254

Eliminates the fixed $520 fee and implements a tiered regulatory fee structure based on total assets for savings banks and service corporations, ranging from 19.295 cents per $1,000 for the first $5,000,000 in assets down to 0.5675 cents per $1,000 for assets exceeding $100,000,000,000.

Removes the $520 per branch office or facility office fee previously charged annually.

Provides a one-time fee waiver for the first billing period following the act's effective date for savings banks or service corporations examined by the Department between January 1, 2017 and the act's effective date.

Modifies contingent fee calculations to reference only subsection (a) regulatory fees rather than the previous subsections (a), (b), and (c), which included the now-eliminated fixed and branch fees.

Requires the Department to provide 20 days' advance notice before assessing contingent fees and payment within 120 days of the close of the billing period.