Illinois 2023-2024 Regular Session

Illinois House Bill HB5628 Compare Versions

Only one version of the bill is available at this time.

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1	1	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB5628 Introduced 2/9/2024, by Rep. Jaime M. Andrade, Jr. SYNOPSIS AS INTRODUCED: 205 ILCS 657/15 Amends the Transmitters of Money Act. Provides that currency exchanges licensed under the Currency Exchange Act are exempt from licensing for exchanging for compensation money of the United States Government or a foreign government to or from money of another government. LRB103 38246 RTM 68381 b A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB5628 Introduced 2/9/2024, by Rep. Jaime M. Andrade, Jr. SYNOPSIS AS INTRODUCED: 205 ILCS 657/15 205 ILCS 657/15 Amends the Transmitters of Money Act. Provides that currency exchanges licensed under the Currency Exchange Act are exempt from licensing for exchanging for compensation money of the United States Government or a foreign government to or from money of another government. LRB103 38246 RTM 68381 b LRB103 38246 RTM 68381 b A BILL FOR
2	2	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB5628 Introduced 2/9/2024, by Rep. Jaime M. Andrade, Jr. SYNOPSIS AS INTRODUCED:
3	3	205 ILCS 657/15 205 ILCS 657/15
4	4	205 ILCS 657/15
5	5	Amends the Transmitters of Money Act. Provides that currency exchanges licensed under the Currency Exchange Act are exempt from licensing for exchanging for compensation money of the United States Government or a foreign government to or from money of another government.
6	6	LRB103 38246 RTM 68381 b LRB103 38246 RTM 68381 b
7	7	LRB103 38246 RTM 68381 b
8	8	A BILL FOR
9	9	HB5628LRB103 38246 RTM 68381 b HB5628 LRB103 38246 RTM 68381 b
10	10	HB5628 LRB103 38246 RTM 68381 b
11	11	1 AN ACT concerning regulation.
12	12	2 Be it enacted by the People of the State of Illinois,
13	13	3 represented in the General Assembly:
14	14	4 Section 5. The Transmitters of Money Act is amended by
15	15	5 changing Section 15 as follows:
16	16	6 (205 ILCS 657/15)
17	17	7 Sec. 15. Exemptions. The following are exempt from the
18	18	8 licensing requirements of this Act:
19	19	9 (1) The United States and any department or agency of
20	20	10 the United States.
21	21	11 (2) This State and any political subdivision of this
22	22	12 State.
23	23	13 (3) Banks, trust companies, building and loan
24	24	14 associations, savings and loan associations, savings
25	25	15 banks, or credit unions, licensed or organized under the
26	26	16 laws of any state or of the United States and any foreign
27	27	17 bank maintaining a branch or agency licensed or organized
28	28	18 under the laws of any state or of the United States.
29	29	19 (4) Currency exchanges licensed under the Currency
30	30	20 Exchange Act are exempt from licensing only for (i) the
31	31	21 issuance of money orders, or (ii) the sale, loading, or
32	32	22 unloading of stored value cards, or (iii) exchanging for
33	33	23 compensation money of the United States Government or a
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37	37	103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB5628 Introduced 2/9/2024, by Rep. Jaime M. Andrade, Jr. SYNOPSIS AS INTRODUCED:
38	38	205 ILCS 657/15 205 ILCS 657/15
39	39	205 ILCS 657/15
40	40	Amends the Transmitters of Money Act. Provides that currency exchanges licensed under the Currency Exchange Act are exempt from licensing for exchanging for compensation money of the United States Government or a foreign government to or from money of another government.
41	41	LRB103 38246 RTM 68381 b LRB103 38246 RTM 68381 b
42	42	LRB103 38246 RTM 68381 b
43	43	A BILL FOR
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49	49	205 ILCS 657/15
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