IL SB4021

Amends the Illinois Credit Union Act to suspend issuance of regulatory fee credits to credit unions for fiscal years ending June 30, 2020 and June 30, 2021.

Prohibits any adjustment to the regulatory fee schedule for fiscal years ending June 30, 2020 and June 30, 2021, even if the Credit Union Fund balance exceeds 25% of administrative and operational expenses.

Suspends the normal provision that would credit excess funds in the Credit Union Fund back to credit unions as fee reductions when the fund balance exceeds 25% of annual expenses.

The suspension provisions expire after June 30, 2021, allowing normal fee adjustment procedures to resume in subsequent fiscal years.

Takes effect upon becoming law with immediate effectiveness.