republic-os/legislation/us/states/il/97th/hb-159.md

---
type: "Bill"
title: "CURRENCY EXCHANGE ACT-ADMIN"
description: "Amends the Currency Exchange Act. Provides that all funds received by currency exchanges for remittance to utility and other companies be deposited into an escrow account no later than the next business day and the escrow account may not be used for any other use. Increases a community currency exchange license application fee to $1,500 (rather than $500) and increases the annual license fee to $500 (rather than $200). Requires that the community currency exchange retain a annual surety bond of $50,000 (rather than $10,000) or the community currency exchange may be covered by a blanket bond in a principal aggregate sum of not less than $10,000,000 (rather than $2,000,000). Requires that the community currency exchange maintain a minimum of $5,000 of its own cash funds to be available for the uses and purposes of its business. Requires that the community currency exchange deposit into an escrow account all funds received as payment for money orders no later than the next business day. Provides that the Secretary of Financial and Professional Regulation may fine a licensee an amount not to exceed $10,000 per violation, revoke, or suspend any license issued if the licensee fails to comply with any provision of this Act or any order, decision, finding, rule, regulation, or direction of the Secretary. Makes other changes. Effective January 1, 2012."
jurisdiction: "us/states/il"
legislature: "Illinois General Assembly"
session: "97th"
identifier: "HB 159"
citation: "Illinois HB 159 (97th)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: []
version_count: 3
action_count: 37
vote_count: 2
first_action: "2011-01-13"
last_action: "2011-08-12"
source: "openstates"
source_identifier: "ocd-bill/17927e5b-b2c2-43e9-ac5b-bfcdb2aa073c"
source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=159&GAID=11&DocTypeID=HB&LegId=54732&SessionID=84&GA=97"
source_hash: "7be9f0882b11cd7fcdda63d4a92fc32c8b28ba3c5eec00f3e3f87ad7d2b6d476"
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 159 (97th) — CURRENCY EXCHANGE ACT-ADMIN

Amends the Currency Exchange Act. Provides that all funds received by currency exchanges for remittance to utility and other companies be deposited into an escrow account no later than the next business day and the escrow account may not be used for any other use. Increases a community currency exchange license application fee to $1,500 (rather than $500) and increases the annual license fee to $500 (rather than $200). Requires that the community currency exchange retain a annual surety bond of $50,000 (rather than $10,000) or the community currency exchange may be covered by a blanket bond in a principal aggregate sum of not less than $10,000,000 (rather than $2,000,000). Requires that the community currency exchange maintain a minimum of $5,000 of its own cash funds to be available for the uses and purposes of its business. Requires that the community currency exchange deposit into an escrow account all funds received as payment for money orders no later than the next business day. Provides that the Secretary of Financial and Professional Regulation may fine a licensee an amount not to exceed $10,000 per violation, revoke, or suspend any license issued if the licensee fails to comply with any provision of this Act or any order, decision, finding, rule, regulation, or direction of the Secretary. Makes other changes. Effective January 1, 2012.

## 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=09700HB0159&GA=97&SessionId=84&DocTypeId=HB&LegID=54732&DocNum=159&GAID=11&Session=&print=true)
2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09700HB0159eng&GA=97&SessionId=84&DocTypeId=HB&LegID=54732&DocNum=159&GAID=11&Session=&print=true)
3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09700HB0159enr&GA=97&SessionId=84&DocTypeId=HB&LegID=54732&DocNum=159&GAID=11&Session=&print=true)

## Votes

- Third Reading — **71–42** (pass) · lower
- Third Reading — **36–20** (pass) · upper

## Sponsors

- Monique D. Davis — primary (person)

## Timeline

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

- **2011-01-13** Filed with the Clerk by Rep. Monique D. Davis `filing`
- **2011-01-18** First Reading `reading-1`
- **2011-01-18** Referred to Rules Committee `referral-committee`
- **2011-02-08** Assigned to Financial Institutions Committee `referral-committee`
- **2011-03-11** House Committee Amendment No. 1 Filed with Clerk by Rep. Monique D. Davis `amendment-introduction`
- **2011-03-11** House Committee Amendment No. 1 Referred to Rules Committee `referral-committee`
- **2011-03-15** House Committee Amendment No. 1 Rules Refers to Financial Institutions Committee
- **2011-03-15** House Committee Amendment No. 1 Adopted in Financial Institutions Committee; by Voice Vote `amendment-passage`
- **2011-03-15** Do Pass as Amended / Short Debate Financial Institutions Committee; 017-002-001 `committee-passage`
- **2011-03-16** Placed on Calendar 2nd Reading - Short Debate
- **2011-04-04** House Floor Amendment No. 2 Filed with Clerk by Rep. Monique D. Davis `amendment-introduction`
- **2011-04-04** House Floor Amendment No. 2 Referred to Rules Committee `referral-committee`
- **2011-04-05** House Floor Amendment No. 3 Filed with Clerk by Rep. Monique D. Davis `amendment-introduction`
- **2011-04-05** House Floor Amendment No. 3 Referred to Rules Committee `referral-committee`
- **2011-04-06** House Floor Amendment No. 3 Recommends Be Adopted Rules Committee; 004-000-000 `committee-passage-favorable`
- **2011-04-07** Second Reading - Short Debate `reading-2`
- **2011-04-07** House Floor Amendment No. 3 Adopted by Voice Vote `amendment-passage`
- **2011-04-07** Placed on Calendar Order of 3rd Reading - Short Debate
- **2011-04-12** Third Reading - Short Debate - Passed 071-042-000 `reading-3, passage`
- **2011-04-12** House Floor Amendment No. 2 Tabled Pursuant to Rule 40 `amendment-failure`
- **2011-04-12** Arrive in Senate `introduction`
- **2011-04-12** Placed on Calendar Order of First Reading `reading-1`
- **2011-04-12** Chief Senate Sponsor Sen. Jacqueline Y. Collins
- **2011-04-12** First Reading `reading-1`
- **2011-04-12** Referred to Assignments `referral-committee`
- **2011-04-27** Assigned to Financial Institutions `referral-committee`
- **2011-05-05** Do Pass Financial Institutions; 009-002-000 `committee-passage`
- **2011-05-05** Placed on Calendar Order of 2nd Reading May 6, 2011
- **2011-05-06** Second Reading `reading-2`
- **2011-05-06** Placed on Calendar Order of 3rd Reading May 10, 2011
- **2011-05-17** Added as Alternate Chief Co-Sponsor Sen. Donne E. Trotter
- **2011-05-17** Third Reading - Passed; 036-020-000 `reading-3, passage`
- **2011-05-17** Passed Both Houses
- **2011-06-15** Sent to the Governor `executive-receipt`
- **2011-08-12** Governor Approved `executive-signature`
- **2011-08-12** Effective Date January 1, 2012
- **2011-08-12** Public Act . . . . . . . . . 97-0315 `became-law`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/17927e5b-b2c2-43e9-ac5b-bfcdb2aa073c`. Confidence: reported (aggregated from official Illinois legislature records).