Illinois General Assembly - Bill Status for SB3670
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 Bill Status of SB3670  103rd General Assembly


Short Description:  FINANCIAL REGULATION-VARIOUS

Senate Sponsors
Sen. Laura Ellman - Ann Gillespie and Napoleon Harris, III

Last Action
DateChamber Action
  3/22/2024SenatePostponed - Executive

Statutes Amended In Order of Appearance
New Act
205 ILCS 657/Act rep.


Synopsis As Introduced
Creates the Uniform Money Transmission Modernization Act. Provides that the provisions supersede the Transmitters of Money Act. Sets forth provisions concerning money transmission licenses; acquisition of control; reporting and records; authorized delegates; timely transmission, refunds, and disclosures; prudential standards; and enforcement. Repeals the Transmitters of Money Act. Makes other changes. Effective January 1, 2026.

Actions 
DateChamber Action
  2/9/2024SenateFiled with Secretary by Sen. Laura Ellman
  2/9/2024SenateFirst Reading
  2/9/2024SenateReferred to Assignments
  2/28/2024SenateAssigned to Executive
  3/8/2024SenateAdded as Chief Co-Sponsor Sen. Ann Gillespie
  3/15/2024SenateRule 2-10 Committee Deadline Established As April 5, 2024
  3/21/2024SenateAdded as Co-Sponsor Sen. Napoleon Harris, III
  3/22/2024SenatePostponed - Executive
  4/5/2024SenateRule 2-10 Committee Deadline Established As April 19, 2024

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