HB5287 EngrossedLRB102 25244 HLH 34517 b

1    AN ACT concerning revenue.
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4    Section 5. The Department of Revenue Law of the Civil
5Administrative Code of Illinois is amended by adding Section
62505-260 as follows:
7    (20 ILCS 2505/2505-260 new)
8    Sec. 2505-260. Payment by cryptocurrency. The Department
9may adopt rules for payment by cryptocurrency of any amount
10due under any Act administered by the Department only when the
11Department is not required to pay a discount fee or charge to
12convert 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.
19    Section 99. Effective date. This Act takes effect upon
20becoming law.