Bill Amendment: IL SB3412 | 2023-2024 | 103rd General Assembly

NOTE: For additional amemendments please see the Bill Drafting List

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Bill Title: UNIFORM MONEY TRANSMISSION ACT

Status: 2024-08-09 - Public Act . . . . . . . . . 103-0991 [SB3412 Detail]

Download: Illinois-2023-SB3412-House_Amendment_001.html

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Rep. Margaret Croke

Filed: 5/16/2024

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AMENDMENT TO SENATE BILL 3412
AMENDMENT NO. ______. Amend Senate Bill 3412 on page 5,
line 13, after the period, by inserting "Solely for purposes
of payroll processing services, "in this State" for a
transaction requested electronically or by phone, means the
mailing address the person requesting the payroll processing
services uses with the Internal Revenue Service is in
Illinois."; and
on page 33, line 20, by replacing "delegate" with "delegates";
and
on page 35, by replacing lines 21 and 22 with "shall be
nonrefundable unless otherwise indicated."; and
on page 83, by replacing lines 2 through 13 with the following:
"(e) A provider of payroll processing services that was
not licensed pursuant to the Transmitters of Money Act on the

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effective date of this Act and transmitted no more than
$50,000,000 in this State in calendar year 2023 shall not be
required to be licensed and comply with this Act until January
1, 2025. A provider of payroll processing services that was
not licensed pursuant to the Transmitters of Money Act on the
effective date of this Act and transmitted no more than
$50,000,000 in this State in calendar year 2023 shall not be
penalized for providing such services before January 1, 2025
if the provider submits a completed application for licensure
prior to January 1, 2025."; and