---
type: "Bill"
title: "MONEY TRANSMITTER-SURETY BOND"
description: "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."
jurisdiction: "us/states/il"
legislature: "Illinois General Assembly"
session: "100th"
identifier: "HB 4805"
citation: "Illinois HB 4805 (100th)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: []
version_count: 3
action_count: 25
vote_count: 2
first_action: "2018-02-13"
last_action: "2018-07-27"
source: "openstates"
source_identifier: "ocd-bill/fc5d8d1f-702c-48c0-9548-5b16ddf83c99"
source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=4805&GAID=14&DocTypeID=HB&LegId=110137&SessionID=91&GA=100"
source_hash: "5e98bc5b57e8833e8efaa00b7e017a9d2ae05e97a73dfa0f7093cf306e4855fd"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-il"]
---

# Illinois HB 4805 (100th) — MONEY TRANSMITTER-SURETY BOND

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.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Introduced** (filed) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=10000HB4805&GA=100&SessionId=91&DocTypeId=HB&LegID=110137&DocNum=4805&GAID=14&Session=&print=true)
2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=10000HB4805eng&GA=100&SessionId=91&DocTypeId=HB&LegID=110137&DocNum=4805&GAID=14&Session=&print=true)
3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=10000HB4805enr&GA=100&SessionId=91&DocTypeId=HB&LegID=110137&DocNum=4805&GAID=14&Session=&print=true)

## Votes

- Third Reading — **52–1** (pass) · upper
- Third Reading — **113–0** (pass) · lower

## Sponsors

- David S. Olsen — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2018-02-13** Filed with the Clerk by Rep. David S. Olsen `filing`
- **2018-02-14** First Reading `reading-1`
- **2018-02-14** Referred to Rules Committee `referral-committee`
- **2018-02-26** Assigned to Financial Institutions Committee `referral-committee`
- **2018-03-06** Do Pass / Short Debate Financial Institutions Committee; 008-000-000 `committee-passage`
- **2018-03-08** Placed on Calendar 2nd Reading - Short Debate
- **2018-04-10** Second Reading - Short Debate `reading-2`
- **2018-04-10** Placed on Calendar Order of 3rd Reading - Short Debate
- **2018-04-11** Third Reading - Short Debate - Passed 113-000-000 `reading-3, passage`
- **2018-04-12** Arrive in Senate `introduction`
- **2018-04-12** Placed on Calendar Order of First Reading `reading-1`
- **2018-04-12** Chief Senate Sponsor Sen. Chapin Rose
- **2018-04-12** First Reading `reading-1`
- **2018-04-12** Referred to Assignments `referral-committee`
- **2018-04-25** Assigned to Financial Institutions `referral-committee`
- **2018-05-02** Do Pass Financial Institutions; 006-000-000 `committee-passage`
- **2018-05-02** Placed on Calendar Order of 2nd Reading May 3, 2018
- **2018-05-10** Second Reading `reading-2`
- **2018-05-10** Placed on Calendar Order of 3rd Reading May 15, 2018
- **2018-05-17** Third Reading - Passed; 052-001-000 `reading-3, passage`
- **2018-05-17** Passed Both Houses
- **2018-06-15** Sent to the Governor `executive-receipt`
- **2018-07-27** Governor Approved `executive-signature`
- **2018-07-27** Effective Date July 27, 2018
- **2018-07-27** Public Act . . . . . . . . . 100-0640 `became-law`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/fc5d8d1f-702c-48c0-9548-5b16ddf83c99`. Confidence: reported (aggregated from official Illinois legislature records).