The Treasurer seeks a successful Respondent (“Contractor”) to provide efficient and cost-effective banking services for the cash payments of taxes collected by the State of Illinois Department of Revenue (“IDOR”) for recreational adult use cannabis and medical cannabis permitted under Illinois law. The Contractor must be authorized to do business in Illinois as an Illinois bank or a national bank with a presence in Illinois. In addition, the Contractor must be a member of the Federal Reserve System, have access to all services as a member bank, and quality as a depository for public funds. At the time the Contractor submits its Proposal, or prior to that time, if required by law, the Contractor must have all required licenses, bonding, facilities, equipment and trained personnel necessary to perform the work specified in this RFP.
