Indiana Senate Bill 458 (Prior Session Legislation)

---

Completed Legislative Action
Spectrum: Slight Partisan Bill (Republican 3-1)
Status: Passed on May 4 2023 - 100% progression
Action: 2023-05-04 - Public Law 198
Text: Latest bill text (Enrolled) [PDF]

Money transmitters. Effective January 1, 2024, repeals the Indiana Code chapter governing the licensing and regulation of money transmitters by the department of financial institutions (department). Adds to the Indiana Code a new chapter codifying the Money Transmission Modernization Act (Act), to take effect January 1, 2024, and to be administered by the division of consumer credit within the department. Sets forth provisions contained in the Act that address the following: (1) Purposes of the Act. (2) Definitions of terms. (3) Exemptions from the Act's requirements. (4) The supervisory authority of the department under the Act. (5) The licensing of money transmitters. (6) The acquisition of control of a licensee. (7) Reporting and records requirements. (8) Authorized delegates of licensees. (9) Refunds of, and receipts for, money received for transmission. (10) Prudential standards for licensees. (11) The enforcement authority of the department. (12) The application of the Act to licensees that have been issued a license under the current statute. (13) Criminal penalties. Makes conforming references to provisions in the Indiana Code that cite the current money transmission statute.

Money transmitters.

Sen. Eric Bassler [R]

Sen. Mike Gaskill [R]

Sen. Lonnie Randolph [D]

Rep. Mike Speedy [R]

2023-04-19 - Senate - Senate - Senate concurred in House amendments (Y: 33 N: 7 NV: 8 Abs: 2) [PASS]
2023-04-06 - House - House - Third reading (Y: 84 N: 3 NV: 3 Abs: 10) [PASS]
2023-02-21 - Senate - Senate - Third reading (Y: 45 N: 0 NV: 1 Abs: 4) [PASS]

Date	Chamber	Action
2023-05-04	Senate	Public Law 198
2023-05-04	Senate	Signed by the Governor
2023-05-01	House	Signed by the Speaker
2023-04-28	Senate	Signed by the President of the Senate
2023-04-24	Senate	Signed by the President Pro Tempore
2023-04-19	Senate	Senate concurred in House amendments; Roll Call 460: yeas 33, nays 7
2023-04-18	Senate	Motion to concur filed
2023-04-06	House	Returned to the Senate with amendments
2023-04-06	House	Third reading: passed; Roll Call 367: yeas 84, nays 3
2023-04-03	House	Second reading: ordered engrossed
2023-03-30	House	Committee report: amend do pass, adopted
2023-02-28	House	First reading: referred to Committee on Financial Institutions
2023-02-22	Senate	Referred to the House
2023-02-21	Senate	House sponsor: Representative Speedy
2023-02-21	Senate	Third reading: passed; Roll Call 146: yeas 45, nays 0
2023-02-20	Senate	Reread second time: amended, ordered engrossed
2023-02-20	Senate	Amendment #3 (Bassler) prevailed; voice vote
2023-02-20	Senate	Amendment #2 (Young M) prevailed; voice vote
2023-02-13	Senate	Placed back on second reading
2023-02-13	Senate	Second reading: ordered engrossed
2023-02-09	Senate	Senator Randolph added as coauthor
2023-02-06	Senate	Senator Gaskill added as second author
2023-02-02	Senate	Committee report: amend do pass, adopted
2023-01-19	Senate	First reading: referred to Committee on Insurance and Financial Institutions
2023-01-19	Senate	Authored by Senator Bassler

Type	Source
Summary	https://iga.in.gov/legislative/2023/bills/senate/458/details
Text	https://iga.in.gov/legislative/2023/bills/senate/458/#1.INTR
Text	https://iga.in.gov/legislative/2023/bills/senate/458/#2.COMS
Text	https://iga.in.gov/legislative/2023/bills/senate/458/#3.ENGS
Text	https://iga.in.gov/legislative/2023/bills/senate/458/#4.COMH
Text	https://iga.in.gov/legislative/2023/bills/senate/458/#5.ENRH
Roll Call	https://iga.in.gov/legislative/2023/bills/senate/458/#S146
Roll Call	https://iga.in.gov/legislative/2023/bills/senate/458/#H367
Roll Call	https://iga.in.gov/legislative/2023/bills/senate/458/#S460