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| | HB5287 Engrossed | | LRB102 25244 HLH 34517 b |
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1 | | AN ACT concerning revenue.
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2 | | Be it enacted by the People of the State of Illinois,
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3 | | represented in the General Assembly:
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4 | | Section 5. The Department of Revenue Law of the
Civil |
5 | | Administrative Code of Illinois is amended by adding Section |
6 | | 2505-260 as follows: |
7 | | (20 ILCS 2505/2505-260 new) |
8 | | Sec. 2505-260. Payment by cryptocurrency. The Department |
9 | | may adopt rules for payment by cryptocurrency of any amount |
10 | | due under any Act administered by the Department only when the |
11 | | Department is not required to pay a discount fee or charge to |
12 | | convert the cryptocurrency to United States dollars. |
13 | | As used in this Section: |
14 | | "Blockchain" has the meaning provided in Section 5 of |
15 | | the Blockchain Business Development Act. |
16 | | "Cryptocurrency" means a form of payment created using |
17 | | cryptographic techniques enabling it to be bought, sold, |
18 | | or traded securely using blockchain transactions.
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19 | | Section 99. Effective date. This Act takes effect upon |
20 | | becoming law.
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