Illinois House Bill 5477 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 14 2020 - 25% progression, died in committee
Action: 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Transmitters of Money Act. Provides that the Director of Financial Institutions of the Department of Financial and Professional Regulation shall not issue an order against a money transmitter for practices contrary to the Act solely because the entity provides or has provided financial services to a cannabis-related legitimate business. Provides that the Director shall not prohibit, penalize, or otherwise discourage a money transmitter from providing financial services to a cannabis-related legitimate business solely because the entity provides or has provided financial services to a cannabis-related legitimate business. Provides that the Director shall not recommend, incentivize, or encourage a money transmitter not to offer financial services or to downgrade or cancel the financial services offered to an account holder solely because of specified reasons related to owning or operating a cannabis-related legitimate business.

TRANSMITTERS OF MONEY-CANNABIS

Rep. Lamont Robinson [D]

Date	Chamber	Action
2020-06-23	House	Rule 19(b) / Re-referred to Rules Committee
2020-03-17	House	Assigned to Financial Institutions Committee
2020-02-18	House	Referred to Rules Committee
2020-02-18	House	First Reading
2020-02-14	House	Filed with the Clerk by Rep. Lamont J. Robinson, Jr.

Chapter	Article	Section	Citation Type	Statute Text
205	657	90	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=5477&GAID=15&DocTypeID=HB&SessionID=108&GA=101
Text	https://www.ilga.gov/legislation/101/HB/10100HB5477.htm