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HB 4805 Illinois House · 100th Regular Session

MONEY TRANSMITTER-SURETY BOND

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.
Bill status signed all 5 stages cleared
Introduction
Apr 2018
Committee Review
May 2018
House Passage
May 2018
Senate Passage
May 2018
Signed into Law
Jul 2018
Introduced Apr 12, 2018 Signed Jul 27, 2018
Floor votes · Senate May 17, 2018 · House Apr 11, 2018

How they voted

43–1
Passed · 4 other
Total votes 48
May 17, 2018
D Democratic28
25 Yea 3
89% Yea
R Republican20
18 Yea 1 Nay 1
90% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
26
Key actions
5
Committee
6
Jul 27, 2018
Signed into law
Governor Approved
lower
May 17, 2018
Lower · Passed
Passed Both Houses
lower
May 2, 2018
Upper · Passed
Do Pass Financial Institutions; 006-000-000
upper
Apr 25, 2018
Committee
Assigned to Financial Institutions
upper
Apr 12, 2018
Committee
Referred to Assignments
upper
Apr 12, 2018
Introduced
Arrive in Senate
upper
Apr 11, 2018
House · Passed
House Vote: pass (96-0-2)
house
Mar 6, 2018
Lower · Passed
Do Pass / Short Debate Financial Institutions Committee; 008-000-000
lower
Feb 26, 2018
Committee
Assigned to Financial Institutions Committee
lower
Feb 14, 2018
Committee
Referred to Rules Committee
lower
0 primary · 1 co-sponsor

Sponsors

No sponsor information available.