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republic-os/legislation/us/states/il/97th/sb-87.md
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Fabio 5941153bb7 Legislation: batch B — IL IN KS KY LA MA MD ME MI MN 
Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 17:27:20 -04:00

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type, title, description, jurisdiction, legislature, session, identifier, citation, classification, subjects, status, primary_sponsors, version_count, action_count, vote_count, first_action, last_action, source, source_identifier, source_url, source_hash, vintage, source_snapshot, retrieved_at, confidence, tags
type title description jurisdiction legislature session identifier citation classification subjects status primary_sponsors version_count action_count vote_count first_action last_action source source_identifier source_url source_hash vintage source_snapshot retrieved_at confidence tags
Bill 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. us/states/il Illinois General Assembly 97th SB 87 Illinois SB 87 (97th)
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3 56 3 2011-01-27 2011-08-23 openstates ocd-bill/c49b5090-0901-4ce7-b576-8c76921c1b8c http://ilga.gov/legislation/BillStatus.asp?DocNum=87&GAID=11&DocTypeID=SB&LegId=54722&SessionID=84&GA=97 ecae02cdfe3768caf254e8d88e6600f2b5064eebcceb187d8fb76196eb21ceb7 2026-07-01 https://data.openstates.org/daily/2026-07-01/public.pgdump 2026-07-06 reported
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Illinois SB 87 (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
  2. Engrossed (committee substitute) — source
  3. Enrolled (enrolled) — source

Votes

  • Third Reading — 31–20 (pass) · upper
  • Concurrence — 50–0 (pass) · upper
  • Third Reading — 109–6 (pass) · lower

Sponsors

  • Jacqueline Y. Collins — primary (person)

Timeline

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

  • 2011-01-27 Filed with Secretary by Sen. Jacqueline Y. Collins filing
  • 2011-01-27 First Reading reading-1
  • 2011-01-27 Referred to Assignments referral-committee
  • 2011-01-27 Assigned to Financial Institutions referral-committee
  • 2011-03-10 Postponed - Financial Institutions
  • 2011-03-11 Senate Committee Amendment No. 1 Filed with Secretary by Sen. Jacqueline Y. Collins amendment-introduction
  • 2011-03-11 Senate Committee Amendment No. 1 Referred to Assignments referral-committee
  • 2011-03-14 Senate Committee Amendment No. 1 Assignments Refers to Financial Institutions
  • 2011-03-17 Senate Committee Amendment No. 1 Adopted amendment-passage
  • 2011-03-17 Do Pass as Amended Financial Institutions; 009-002-000 committee-passage
  • 2011-03-17 Placed on Calendar Order of 2nd Reading March 29, 2011
  • 2011-03-17 Added as Chief Co-Sponsor Sen. Martin A. Sandoval
  • 2011-04-04 Senate Floor Amendment No. 2 Filed with Secretary by Sen. Jacqueline Y. Collins amendment-introduction
  • 2011-04-04 Senate Floor Amendment No. 2 Referred to Assignments referral-committee
  • 2011-04-05 Senate Floor Amendment No. 3 Filed with Secretary by Sen. Jacqueline Y. Collins amendment-introduction
  • 2011-04-05 Senate Floor Amendment No. 3 Referred to Assignments referral-committee
  • 2011-04-06 Senate Floor Amendment No. 2 Assignments Refers to Financial Institutions
  • 2011-04-06 Senate Floor Amendment No. 3 Assignments Refers to Financial Institutions
  • 2011-04-07 Senate Floor Amendment No. 2 Tabled in Financial Institutions amendment-failure
  • 2011-04-07 Senate Floor Amendment No. 3 Recommend Do Adopt Financial Institutions; 010-002-000
  • 2011-04-08 Second Reading reading-2
  • 2011-04-08 Senate Floor Amendment No. 3 Adopted; J. Collins amendment-passage
  • 2011-04-08 Placed on Calendar Order of 3rd Reading April 11, 2011
  • 2011-04-12 Third Reading - Passed; 031-020-000 reading-3, passage
  • 2011-04-12 Arrived in House introduction
  • 2011-04-12 Placed on Calendar Order of First Reading reading-1
  • 2011-04-12 Chief House Sponsor Rep. Monique D. Davis
  • 2011-04-12 First Reading reading-1
  • 2011-04-12 Referred to Rules Committee referral-committee
  • 2011-05-04 Assigned to Executive Committee referral-committee
  • 2011-05-13 Committee Deadline Extended-Rule 9(b) May 20, 2011
  • 2011-05-20 House Committee Amendment No. 1 Filed with Clerk by Rep. Lou Lang amendment-introduction
  • 2011-05-20 House Committee Amendment No. 1 Referred to Rules Committee referral-committee
  • 2011-05-20 Alternate Chief Sponsor Changed to Rep. Lou Lang
  • 2011-05-20 Added Alternate Chief Co-Sponsor Rep. Monique D. Davis
  • 2011-05-20 Final Action Deadline Extended-9(b) May 27, 2011
  • 2011-05-23 House Committee Amendment No. 1 Rules Refers to Executive Committee
  • 2011-05-24 House Committee Amendment No. 1 Adopted in Executive Committee; by Voice Vote amendment-passage
  • 2011-05-24 Do Pass as Amended / Short Debate Executive Committee; 011-000-000 committee-passage
  • 2011-05-24 Placed on Calendar 2nd Reading - Short Debate
  • 2011-05-25 Second Reading - Short Debate reading-2
  • 2011-05-25 Placed on Calendar Order of 3rd Reading - Short Debate
  • 2011-05-26 Added Alternate Chief Co-Sponsor Rep. Joseph M. Lyons
  • 2011-05-26 Third Reading - Short Debate - Passed 109-006-000 reading-3, passage
  • 2011-05-26 Secretary's Desk - Concurrence House Amendment(s) 1
  • 2011-05-26 Placed on Calendar Order of Concurrence House Amendment(s) 1 - May 27, 2011
  • 2011-05-27 House Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Jacqueline Y. Collins filing
  • 2011-05-27 House Committee Amendment No. 1 Motion to Concur Referred to Assignments referral-committee
  • 2011-05-27 House Committee Amendment No. 1 Motion to Concur Assignments Referred to Financial Institutions referral-committee
  • 2011-05-27 House Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Financial Institutions; 008-000-000
  • 2011-05-28 House Committee Amendment No. 1 Senate Concurs 050-000-000
  • 2011-05-28 Passed Both Houses
  • 2011-06-24 Sent to the Governor executive-receipt
  • 2011-08-23 Governor Approved executive-signature
  • 2011-08-23 Effective Date August 23, 2011
  • 2011-08-23 Public Act . . . . . . . . . 97-0511 became-law

Source

OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/c49b5090-0901-4ce7-b576-8c76921c1b8c. Confidence: reported (aggregated from official Illinois legislature records).

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