Bill Status of HB 5033   97th General Assembly

Short Description:  CURRENCY EXCHANGE-SERVICES

House Sponsors
Rep. Angelo Saviano-Robert Rita

Senate Sponsors
(Sen. Jeffrey M. Schoenberg)


Last Action  View All Actions

DateChamber Action
  8/27/2012HousePublic Act . . . . . . . . . 97-1111

Statutes Amended In Order of Appearance
205 ILCS 405/3.3from Ch. 17, par. 4807

Synopsis As Introduced
Amends the Currency Exchange Act. Provides that, upon receipt of an application by a currency exchange to provide additional services to the public, the Secretary of Financial and Professional Regulation shall approve or deny the application within 45 days after the filing of a complete application. Provides that, if the application is denied, the applicant may, within 10 days after the date of the notice of denial, request a hearing. Provides that a public hearing must be held before the Secretary may revoke any authorization for a currency exchange to provide additional services to the public.

House Committee Amendment No. 1
Adds reference to:
205 ILCS 405/4from Ch. 17, par. 4808

Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill. Further amends the Currency Exchange Act. Provides that, upon receipt of a community currency exchange license application, the Secretary of Financial and Professional Regulation shall approve or deny the application within 45 days after the filing of a complete application. Provides that, if the license application is denied, the applicant may, within 10 days after the date of the notice of denial, request a hearing. Provides that, if, following the hearing, the license application is denied, the Secretary shall prepare a written order of the denial and shall send a copy to the applicant. Effective immediately.

Senate Committee Amendment No. 1
Replaces everything after the enacting clause. Reinserts the provisions of the engrossed bill, but makes changes. Provides that the notice provided to the Secretary of Financial and Professional Regulation by a currency exchange wishing to provide an additional service must be in writing and on a form provided by the Department of Financial and Professional Regulation. Provides that, within 15 days (rather than 10 days) after receipt by the Department of an additional service request, the Secretary shall examine the additional service request for completeness and notify the requester of any defect. Provides that the requester must remedy the defect within 10 days after the mailing of the notification of the defect. Provides that failure to remedy the defect will void the additional service request. Provides that the Secretary shall, within 60 business days (rather than 45 days) after determining that an additional service request is complete, approve or deny the additional service request. Provides that a hearing on an additional service request denial shall be scheduled for a date within 56 days after the date the Secretary receives the request for a hearing. Deletes a provision requiring the Secretary to prepare, keep on file, and mail to the requester a written order of the denial of an additional service request. Deletes a provision permitting the Secretary to revoke any authorization for additional services on 60 days' written notice. Provides that, if the Secretary revokes a previously approved authorization for an additional service request, the Secretary shall provide written notice to all affected currency exchange licensees. Provides that, if the Secretary revokes authorization for a previously approved additional service, the currency exchange may continue to offer the additional service until a final administrative order has been entered revoking the authorization. Provides that, upon receipt of a community currency exchange license application, the Secretary shall examine the application for completeness and notify the applicant in writing of any defect within 20 days (rather than 10 days) after receipt. Provides that the applicant must remedy the defect within 10 days after the mailing of the notification of the defect. Provides that failure to timely remedy the defect will void the application. Provides that the Secretary shall, within 90 business days (rather than 45 days) after determining that an application is complete, approve or deny the application. Provides that a hearing on an application denial shall be scheduled for a date within 56 days after the date the Secretary receives the request for a hearing. Deletes a provision requiring the Secretary to prepare, keep on file, and mail to the applicant a written order of the denial of an application. Provides that the Department shall, within 45 business days after receiving a currency exchange licensee's request to purchase another currency exchange, approve or deny the request. Effective immediately.

Actions 
DateChamber Action
  2/7/2012HouseFiled with the Clerk by Rep. Angelo Saviano
  2/7/2012HouseFirst Reading
  2/7/2012HouseReferred to Rules Committee
  2/27/2012HouseAssigned to Business & Occupational Licenses Committee
  3/5/2012HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Angelo Saviano
  3/5/2012HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  3/6/2012HouseHouse Committee Amendment No. 1 Rules Refers to Business & Occupational Licenses Committee
  3/7/2012HouseHouse Committee Amendment No. 1 Adopted in Business & Occupational Licenses Committee; by Voice Vote
  3/7/2012HouseDo Pass as Amended / Short Debate Business & Occupational Licenses Committee; 009-000-000
  3/9/2012HousePlaced on Calendar 2nd Reading - Short Debate
  3/27/2012HouseHouse Committee Amendment No. 1 Fiscal Note Requested as Amended by Rep. Linda Chapa LaVia
  3/27/2012HouseHouse Committee Amendment No. 1 Balanced Budget Note Requested as Amended by Rep. Linda Chapa LaVia
  3/27/2012HouseHouse Committee Amendment No. 1 Pension Note Requested as Amended by Rep. Linda Chapa LaVia
  3/27/2012HouseHouse Committee Amendment No. 1 State Debt Impact Note Requested as Amended by Rep. Linda Chapa LaVia
  3/27/2012HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Angelo Saviano
  3/27/2012HouseHouse Floor Amendment No. 2 Referred to Rules Committee
  3/27/2012HouseSecond Reading - Short Debate
  3/27/2012HouseHeld on Calendar Order of Second Reading - Short Debate
  3/28/2012HouseAdded Chief Co-Sponsor Rep. Robert Rita
  3/28/2012HouseHouse Committee Amendment No. 1 Fiscal Note Requested as Amended - Withdrawn by Rep. Linda Chapa LaVia
  3/28/2012HouseHouse Committee Amendment No. 1 Balanced Budget Note Requested as Amended - Withdrawn by Rep. Linda Chapa LaVia
  3/28/2012HouseHouse Committee Amendment No. 1 Pension Note Requested as Amended - Withdrawn by Rep. Linda Chapa LaVia
  3/28/2012HouseHouse Committee Amendment No. 1 State Debt Impact Note Requested as Amended - Withdrawn by Rep. Linda Chapa LaVia
  3/30/2012HousePlaced on Calendar Order of 3rd Reading - Short Debate
  3/30/2012HouseThird Reading - Short Debate - Passed 094-016-001
  3/30/2012HouseHouse Floor Amendment No. 2 Tabled Pursuant to Rule 40
  4/11/2012SenateArrive in Senate
  4/11/2012SenatePlaced on Calendar Order of First Reading April 17, 2012
  4/11/2012SenateChief Senate Sponsor Sen. Jeffrey M. Schoenberg
  4/17/2012SenateFirst Reading
  4/17/2012SenateReferred to Assignments
  4/24/2012SenateAssigned to Licensed Activities
  4/26/2012SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Jeffrey M. Schoenberg
  4/26/2012SenateSenate Committee Amendment No. 1 Referred to Assignments
  5/1/2012SenateSenate Committee Amendment No. 1 Assignments Refers to Licensed Activities
  5/2/2012SenateSenate Committee Amendment No. 1 Adopted
  5/2/2012SenateDo Pass as Amended Licensed Activities; 011-000-000
  5/2/2012SenatePlaced on Calendar Order of 2nd Reading May 3, 2012
  5/15/2012SenateSecond Reading
  5/15/2012SenatePlaced on Calendar Order of 3rd Reading May 16, 2012
  5/17/2012SenateThird Reading - Passed; 057-000-000
  5/18/2012HouseArrived in House
  5/18/2012HousePlaced on Calendar Order of Concurrence Senate Amendment(s) 1
  5/21/2012HouseSenate Committee Amendment No. 1 Motion Filed Concur Rep. Angelo Saviano
  5/21/2012HouseSenate Committee Amendment No. 1 Motion to Concur Referred to Rules Committee
  5/28/2012HouseSenate Committee Amendment No. 1 Motion to Concur Rules Referred to Business & Occupational Licenses Committee
  5/28/2012HouseSenate Committee Amendment No. 1 Motion to Concur Recommends Be Adopted Business & Occupational Licenses Committee; 008-000-000
  5/30/2012HouseSenate Committee Amendment No. 1 House Concurs 081-034-000
  5/30/2012HousePassed Both Houses
  6/28/2012HouseSent to the Governor
  8/27/2012HouseGovernor Approved
  8/27/2012HouseEffective Date August 27, 2012
  8/27/2012HousePublic Act . . . . . . . . . 97-1111

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