IL HB3479 | 2023-2024 | 103rd General Assembly
Status
Spectrum: Partisan Bill (Democrat 4-0)
Status: Engrossed on April 27 2023 - 50% progression
Action: 2023-05-02 - Referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Engrossed) [HTML]
Status: Engrossed on April 27 2023 - 50% progression
Action: 2023-05-02 - Referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Engrossed) [HTML]
Summary
Creates the Uniform Money Transmission Modernization Act. Provides that the provisions supersede the Transmitters of Money Act. Sets forth provisions concerning money transmission licenses; acquisition of control; reporting and records; authorized delegates; timely transmission, refunds, and disclosures; prudential standards; and enforcement. Creates the Digital Assets Regulation Act. Provides that the Department of Financial and Professional Regulation shall regulate digital asset business activity in the State. Sets forth provisions concerning customer protections; compliance; licensure; supervision; general restrictions and prohibitions; confidentiality; and rulemaking authority. Amends the Corporate Fiduciary Act to create the Special Purpose Trust Company Authority and Organization Article. Makes conforming changes in the Freedom of Information Act, the Illinois Banking Act, and the Consumer Fraud and Deceptive Business Practices Act. Provides that the Transmitters of Money Act is repealed on January 1, 2025. Makes other changes. Effective immediately, except that the changes to the Transmitters of Money Act take effect January 1, 2025.
Title
FINANCIAL REGULATION-VARIOUS
Sponsors
Roll Calls
2023-04-27 - House - Motion in House (Y: 90 N: 21 NV: 0 Abs: 2) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2023-05-02 | Senate | Referred to Assignments |
| 2023-05-02 | Senate | First Reading |
| 2023-05-02 | Senate | Chief Senate Sponsor Sen. Laura Ellman |
| 2023-05-02 | Senate | Placed on Calendar Order of First Reading |
| 2023-05-02 | Senate | Arrive in Senate |
| 2023-04-27 | House | Third Reading - Short Debate - Passed 090-021-000 |
| 2023-04-27 | House | Placed on Calendar Order of 3rd Reading - Short Debate |
| 2023-04-27 | House | House Floor Amendment No. 2 Adopted |
| 2023-04-27 | House | Recalled to Second Reading - Short Debate |
| 2023-04-27 | House | Third Reading - Consideration Postponed |
| 2023-04-25 | House | House Floor Amendment No. 2 Recommends Be Adopted Financial Institutions and Licensing Committee; 010-002-000 |
| 2023-04-25 | House | House Floor Amendment No. 2 Rules Refers to Financial Institutions and Licensing Committee |
| 2023-04-24 | House | House Floor Amendment No. 2 Referred to Rules Committee |
| 2023-04-24 | House | House Floor Amendment No. 2 Filed with Clerk by Rep. Mark L. Walker |
| 2023-04-18 | House | Third Reading Deadline Extended-Rule May 19, 2023 |
| 2023-04-18 | House | Placed on Calendar - Consideration Postponed |
| 2023-04-18 | House | Approved for Consideration Rules Committee; 005-000-000 |
| 2023-03-27 | House | Rule 19(a) / Re-referred to Rules Committee |
| 2023-03-24 | House | Placed on Calendar - Consideration Postponed |
| 2023-03-24 | House | Placed on Calendar Order of 3rd Reading - Short Debate |
| 2023-03-24 | House | House Floor Amendment No. 1 Adopted |
| 2023-03-24 | House | Removed Co-Sponsor Rep. Aaron M. Ortiz |
| 2023-03-24 | House | Added Chief Co-Sponsor Rep. Aaron M. Ortiz |
| 2023-03-24 | House | Added Co-Sponsor Rep. Aaron M. Ortiz |
| 2023-03-23 | House | House Floor Amendment No. 1 Recommends Be Adopted Financial Institutions and Licensing Committee; 008-004-000 |
| 2023-03-22 | House | Held on Calendar Order of Second Reading - Short Debate |
| 2023-03-22 | House | Second Reading - Short Debate |
| 2023-03-22 | House | Added Co-Sponsor Rep. Dagmara Avelar |
| 2023-03-22 | House | House Floor Amendment No. 1 Rules Refers to Financial Institutions and Licensing Committee |
| 2023-03-21 | House | House Floor Amendment No. 1 Referred to Rules Committee |
| 2023-03-21 | House | House Floor Amendment No. 1 Filed with Clerk by Rep. Mark L. Walker |
| 2023-03-08 | House | Placed on Calendar 2nd Reading - Short Debate |
| 2023-03-07 | House | Do Pass / Short Debate Financial Institutions and Licensing Committee; 008-004-000 |
| 2023-02-28 | House | Assigned to Financial Institutions and Licensing Committee |
| 2023-02-17 | House | Referred to Rules Committee |
| 2023-02-17 | House | First Reading |
| 2023-02-17 | House | Filed with the Clerk by Rep. Mark L. Walker |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 205 | 5 | 2 | Amended Code | Citation Text |
| 205 | 5 | 30 | Amended Code | Citation Text |
| 205 | 620 | 1-5.08 | Amended Code | Citation Text |
| 205 | 620 | 2-1 | Amended Code | Citation Text |
| 205 | 620 | 2A-1 | New Code | See Bill Text |
| 205 | 620 | 2A-2 | New Code | See Bill Text |
| 205 | 620 | 2A-3 | New Code | See Bill Text |
| 205 | 620 | 2A-4 | New Code | See Bill Text |
| 205 | 620 | 4-1 | Amended Code | Citation Text |
| 205 | 620 | 4-2 | Amended Code | Citation Text |
| 205 | 620 | 4-5 | Amended Code | Citation Text |
| 205 | 620 | 4A-15 | Amended Code | Citation Text |
| 205 | 620 | 5-1 | Amended Code | Citation Text |
| 205 | 620 | Art. IIA heading | New Code | See Bill Text |
| 205 | 657 | Act | Repealed Code | Citation Text |
| 30 | 105 | 5.990 | New Code | See Bill Text |
| 30 | 105 | 5.991 | New Code | See Bill Text |
| 5 | 140 | 7.5 | Amended Code | Citation Text |
| 815 | 505 | 2BBBB | New Code | See Bill Text |
