IL HB4805 | 2017-2018 | 100th General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 2-0)
Status: Passed on July 27 2018 - 100% progression
Action: 2018-07-27 - Public Act . . . . . . . . . 100-0640
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Partisan Bill (Republican 2-0)
Status: Passed on July 27 2018 - 100% progression
Action: 2018-07-27 - Public Act . . . . . . . . . 100-0640
Text: Latest bill text (Chaptered) [HTML]
Summary
Amends the Transmitters of Money Act. Provides that a money transmitter applicant or a money transmitter licensee shall post a bond in the amount of $50,000 or an amount equal to 1% of all Illinois-based activity, whichever is greater (rather than the greater of $100,000 or an amount equal to the daily average of outstanding payment instruments for the preceding 12 months or operational history). Effective immediately.
Title
MONEY TRANSMITTER-SURETY BOND
Sponsors
| Rep. David Olsen [R] | Sen. Chapin Rose [R] |
Roll Calls
2018-05-17 - Senate - Third Reading in Senate (Y: 52 N: 1 NV: 6 Abs: 0) [PASS]
2018-04-11 - House - Third Reading in House (Y: 113 N: 0 NV: 0 Abs: 1) [PASS]
2018-04-11 - House - Third Reading in House (Y: 113 N: 0 NV: 0 Abs: 1) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2018-07-27 | House | Public Act . . . . . . . . . 100-0640 |
| 2018-07-27 | House | Effective Date July 27, 2018 |
| 2018-07-27 | House | Governor Approved |
| 2018-06-15 | House | Sent to the Governor |
| 2018-05-17 | House | Passed Both Houses |
| 2018-05-17 | Senate | Third Reading - Passed; 052-001-000 |
| 2018-05-10 | Senate | Placed on Calendar Order of 3rd Reading May 15, 2018 |
| 2018-05-10 | Senate | Second Reading |
| 2018-05-02 | Senate | Placed on Calendar Order of 2nd Reading May 3, 2018 |
| 2018-05-02 | Senate | Do Pass Financial Institutions; 006-000-000 |
| 2018-04-25 | Senate | Assigned to Financial Institutions |
| 2018-04-12 | Senate | Referred to Assignments |
| 2018-04-12 | Senate | First Reading |
| 2018-04-12 | Senate | Chief Senate Sponsor Sen. Chapin Rose |
| 2018-04-12 | Senate | Placed on Calendar Order of First Reading |
| 2018-04-12 | Senate | Arrive in Senate |
| 2018-04-11 | House | Third Reading - Short Debate - Passed 113-000-000 |
| 2018-04-10 | House | Placed on Calendar Order of 3rd Reading - Short Debate |
| 2018-04-10 | House | Second Reading - Short Debate |
| 2018-03-08 | House | Placed on Calendar 2nd Reading - Short Debate |
| 2018-03-06 | House | Do Pass / Short Debate Financial Institutions Committee; 008-000-000 |
| 2018-02-26 | House | Assigned to Financial Institutions Committee |
| 2018-02-14 | House | Referred to Rules Committee |
| 2018-02-14 | House | First Reading |
| 2018-02-13 | House | Filed with the Clerk by Rep. David S. Olsen |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 205 | 657 | 30 | Amended Code | Citation Text |
