Illinois 100th Regular Session Status: Enacted

HB 4805 — MONEY TRANSMITTER-SURETY BOND

Last action — Public Act . . . . . . . . . 100-0640

Track this bill free

No card. One bill, free forever — alerts when it moves.

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed House
  4. ✓
    Passed Senate
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced February 13, 2018. Enacted.

Prognosis

Likely to advance 70% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    0 primary, 1 co-sponsors signed on.

  • Cleared a recorded vote

    Passed 2 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

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 Text

What changed in the latest version

3 added · 3 removed

Plain-language change summary

The latest version of Bill HB 4805 has removed three lines from the previous version and added back three lines. This indicates that some language may have been revised or clarified for better understanding. These changes are important because they can affect how the law is interpreted and enforced, ensuring that the intentions behind the bill are accurately reflected.

→
Previous
Latest
HB4805 Engrossed LRB100 16045 SMS 31164 b AN ACT concerning regulation.
HB4805 Enrolled LRB100 16045 SMS 31164 b AN ACT concerning regulation.
HB4805 Engrossed - 2 - LRB100 16045 SMS 31164 b (c) The bond must be in a form satisfactory to the Director and shall run to the State of Illinois for the benefit of any claimant against the applicant or licensee with respect to the receipt, handling, transmission, and payment of money by the licensee or authorized seller in connection with the licensed operations.
HB4805 Enrolled - 2 - LRB100 16045 SMS 31164 b (c) The bond must be in a form satisfactory to the Director and shall run to the State of Illinois for the benefit of any claimant against the applicant or licensee with respect to the receipt, handling, transmission, and payment of money by the licensee or authorized seller in connection with the licensed operations.
(g) If the Director at any time reasonably determines that the required bond is insecure, deficient in amount, or exhausted in whole or in part, he may in writing require the filing of a new or supplemental bond in order to secure compliance with this Act and may demand compliance with the HB4805 Engrossed - 3 - LRB100 16045 SMS 31164 b requirement within 30 days following service on the licensee.
(g) If the Director at any time reasonably determines that the required bond is insecure, deficient in amount, or exhausted in whole or in part, he may in writing require the filing of a new or supplemental bond in order to secure compliance with this Act and may demand compliance with the HB4805 Enrolled - 3 - LRB100 16045 SMS 31164 b requirement within 30 days following service on the licensee.
⬇ Download PDF
View plain text versions (3)

Action History

  1. Public Act . . . . . . . . . 100-0640

  2. Effective Date July 27, 2018

  3. Governor Approved

  4. Sent to the Governor

  5. Passed Both Houses

  6. Third Reading - Passed; 052-001-000

  7. Placed on Calendar Order of 3rd Reading May 15, 2018

  8. Second Reading

  9. Placed on Calendar Order of 2nd Reading May 3, 2018

  10. Do Pass Financial Institutions; 006-000-000

  11. Assigned to Financial Institutions

  12. Referred to Assignments

  13. First Reading

  14. Chief Senate Sponsor Sen. Chapin Rose

  15. Placed on Calendar Order of First Reading

  16. Arrive in Senate

  17. Third Reading - Short Debate - Passed 113-000-000

  18. Placed on Calendar Order of 3rd Reading - Short Debate

  19. Second Reading - Short Debate

  20. Placed on Calendar 2nd Reading - Short Debate

  21. Do Pass / Short Debate Financial Institutions Committee; 008-000-000

  22. Assigned to Financial Institutions Committee

  23. Referred to Rules Committee

  24. First Reading

  25. Filed with the Clerk by Rep. David S. Olsen

Sponsors

  • David S. Olsen · Cosponsor

Sponsorship breakdown

Export CSV (upgrade) →

0 sponsors · 1 co-sponsors · 182 not signed on · 1 voted No

Sponsors (0)

None.

Co-sponsors (1)

  • David S. Olsen

Not signed on (182)

182 members have not signed on to this bill.

Show all 182 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Third Reading

Passed 52 Yea · 1 Nay · 6 Other
Party YeaNayPresentNot Voting
Unaffiliated 32003
Republican 7101
Democrat 13002
Total 52106
% of votes cast 88%2%0%10%
How each member voted (59)
Member Party Vote
Barickman — Yea
Bertino-Tarrant — Yea
Biss — Not Voting
Bivins — Yea
Landek — Yea
Bush — Yea
Clayborne — Yea
Link — Yea
McCann — Yea
Rooney — Yea
McCarter — Yea
McConnaughay — Yea
Mulroe — Yea
Muñoz — Not Voting
Raoul — Yea
Bennett — Yea
Harris — Yea
McGuire — Yea
Silverstein — Not Voting
Steans — Yea
Brady — Yea
Cullerton — Yea
Cullerton, T. — Yea
Connelly — Yea
Haine — Yea
Hutchinson — Yea
Nybo — Yea
Oberweis — Yea
Righter — Yea
Sandoval — Yea
Schimpf — Yea
Manar — Yea
Althoff — Yea
Martinez — Yea
Van Pelt — Yea
Bill Cunningham Democrat Yea
Cristina Castro Democrat Yea
David Koehler Democrat Yea
Don Harmon Democrat Yea
Elgie R. Sims, Jr. Democrat Yea
Emil Jones, III Democrat Not Voting
Julie A. Morrison Democrat Yea
Kimberly A. Lightford Democrat Yea
Lakesia Collins Democrat Not Voting
Laura M. Murphy Democrat Yea
Linda Holmes Democrat Yea
Mattie Hunter Democrat Yea
Michael E. Hastings Democrat Yea
Omar Aquino Democrat Yea
Steve Stadelman Democrat Yea
Chapin Rose Republican Yea
Dale Fowler Republican Yea
Dan McConchie Republican Not Voting
Dave Syverson Republican Yea
Jil Tracy Republican Yea
John F. Curran Republican Yea
Neil Anderson Republican Yea
Sue Rezin Republican Yea
Travis Weaver Republican Nay

Official roll call →

Third Reading

Passed 113 Yea · 0 Nay · 5 Other
Party YeaNayPresentNot Voting
Unaffiliated 70004
Republican 12000
Democrat 31001
Total 113005
% of votes cast 96%0%0%4%
How each member voted (118)
Member Party Vote
Batinick — Yea
Bellock — Yea
Bourne — Yea
Breen — Yea
Bristow — Yea
Butler — Yea
Carroll — Yea
McAuliffe — Yea
D'Amico — Yea
Demmer — Yea
Fortner — Yea
Lang — Yea
Long — Yea
Phillips — Yea
Sente — Yea
Skillicorn — Yea
Stewart — Yea
Stratton — Yea
Bennett — Yea
Sauer — Yea
Tabares — Yea
Brady — Yea
Harris, David — Yea
Thapedi — Yea
Harris, Gregory — Yea
Turner — Yea
Burke, Daniel — Yea
Burke, Kelly — Yea
Jones — Yea
Cavaletto — Yea
Connor — Yea
Conroy — Yea
Conyears-Ervin — Yea
Costello — Yea
Frese — Yea
Greenwood — Yea
Hays — Yea
Hurley — Yea
Ives — Yea
Jesiel — Yea
Jimenez — Yea
McDermed — Yea
Davis — Yea
McSweeney — Yea
Wheeler, Keith — Yea
Williams — Yea
Mitchell, Christian — Yea
Soto — Not Voting
Finnie, Natalie — Yea
Unes — Yea
Wehrli — Yea
Willis — Yea
Hernandez — Not Voting
Wheeler, Barbara — Not Voting
Mitchell, Bill — Not Voting
Currie — Yea
Drury — Yea
Durkin — Yea
Flowers — Yea
Winger — Yea
Zalewski — Yea
Olsen — Yea
Parkhurst — Yea
Pritchard — Yea
Reis — Yea
Riley — Yea
Sommer — Yea
Wallace — Yea
Welter — Yea
Yingling — Yea
Madigan — Yea
Andersson — Yea
Arroyo — Yea
Chapa LaVia — Yea
Anna Moeller Democrat Yea
Anthony DeLuca Democrat Yea
Camille Y. Lilly Democrat Yea
Carol Ammons Democrat Yea
Emanuel "Chris" Welch Democrat Yea
Fred Crespo Democrat Yea
Jaime M. Andrade, Jr. Democrat Yea
Jay Hoffman Democrat Yea
Jehan Gordon-Booth Democrat Yea
Julie A. Morrison Democrat Yea
Justin Slaughter Democrat Yea
Katie Stuart Democrat Yea
Kelly M. Cassidy Democrat Yea
La Shawn K. Ford Democrat Yea
Laura Fine Democrat Yea
Lawrence "Larry" Walsh, Jr. Democrat Yea
Marcus C. Evans, Jr. Democrat Yea
Martin J. Moylan Democrat Yea
Michael W. Halpin Democrat Yea
Michelle Mussman Democrat Yea
Natalie A. Manley Democrat Yea
Nicholas K. Smith Democrat Yea
Rita Mayfield Democrat Yea
Robert "Bob" Rita Democrat Yea
Robert F. Martwick Democrat Yea
Robyn Gabel Democrat Not Voting
Sara Feigenholtz Democrat Yea
Sonya M. Harper Democrat Yea
Stephanie A. Kifowit Democrat Yea
Sue Scherer Democrat Yea
Theresa Mah Democrat Yea
Will Guzzardi Democrat Yea
Brad Halbrook Republican Yea
Charles Meier Republican Yea
Christopher "C.D." Davidsmeyer Republican Yea
Dan Swanson Republican Yea
Dave Severin Republican Yea
Joe C. Sosnowski Republican Yea
John M. Cabello Republican Yea
Norine K. Hammond Republican Yea
Ryan Spain Republican Yea
Steven Reick Republican Yea
Terri Bryant Republican Yea
Tony M. McCombie Republican Yea

Official roll call →

Subjects

finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HB 4805 do?
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.
Who sponsors HB 4805?
HB 4805 is sponsored by David S. Olsen.
What is the current status of HB 4805?
This bill has been enacted into law. Introduced February 13, 2018. Enacted.
Where can I track HB 4805?
Track HB 4805 free on One Click Politics — get push/email alerts when it moves.

Make your voice heard on HB 4805

Find the representatives who decide this bill and tell them where you stand — for yourself, or mobilize your whole list in one click with One Click Politics advocacy software.

Find my representatives → Run a campaign

Stay ahead of HB 4805

Last checked for changes 3 months ago · updated continuously

One Click Politics tracks every bill in Congress and all 50 states.

Track this bill →