Fabio
135 lines
9.5 KiB
Markdown
135 lines
9.5 KiB
Markdown
---
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type: "Bill"
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title: "UNIFORM MONEY TRANSMISSION ACT"
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description: "Creates the Uniform Money Transmission Modernization Act. Provides that the provisions supersede the Transmitters of Money Act. Provides that a person may not engage in the business of money transmission or advertise, solicit, or hold oneself out as providing money transmission unless the person is licensed under the Act. Sets forth provisions concerning the purpose of the Act; definitions; money transmission licenses; license application; license renewal; acquisition of control and change of key individuals; reporting and records; authorized delegates of a licensee; timely transmission, refunds, and disclosures; confidentiality of records; required reports; prudential standards; and enforcement. Makes conforming changes in the Freedom of Information Act and the State Finance Act. Provides that the Transmitters of Money Act is repealed on January 1, 2026. Makes other changes. Effective immediately, except that the changes to the Transmitters of Money Act take effect January 1, 2026."
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jurisdiction: "us/states/il"
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legislature: "Illinois General Assembly"
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session: "103rd"
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identifier: "SB 3412"
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citation: "Illinois SB 3412 (103rd)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: ["Laura Ellman", "Margaret Croke"]
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version_count: 7
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action_count: 62
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vote_count: 8
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first_action: "2024-02-08"
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last_action: "2024-08-09"
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source: "openstates"
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source_identifier: "ocd-bill/d7381945-3c7d-4629-bc53-8ac12c0b3c32"
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source_url: "https://beta.ilga.gov/Legislation/BillStatus?DocNum=3412&GAID=17&DocTypeID=SB&LegId=152991&SessionID=112"
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source_hash: "0bda17ec150a9d2e4b595b8cba11a8fc51701e1bf7dbff892ee5ee5bfee2410f"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-il"]
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---
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# Illinois SB 3412 (103rd) — UNIFORM MONEY TRANSMISSION ACT
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Creates the Uniform Money Transmission Modernization Act. Provides that the provisions supersede the Transmitters of Money Act. Provides that a person may not engage in the business of money transmission or advertise, solicit, or hold oneself out as providing money transmission unless the person is licensed under the Act. Sets forth provisions concerning the purpose of the Act; definitions; money transmission licenses; license application; license renewal; acquisition of control and change of key individuals; reporting and records; authorized delegates of a licensee; timely transmission, refunds, and disclosures; confidentiality of records; required reports; prudential standards; and enforcement. Makes conforming changes in the Freedom of Information Act and the State Finance Act. Provides that the Transmitters of Money Act is repealed on January 1, 2026. Makes other changes. Effective immediately, except that the changes to the Transmitters of Money Act take effect January 1, 2026.
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **Introduced** (filed) — [source](https://beta.ilga.gov/documents/legislation/103/SB/PDF/10300SB3412.pdf)
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2. **Engrossed** (committee substitute) — [source](https://beta.ilga.gov/documents/legislation/103/SB/PDF/10300SB3412eng.pdf)
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3. **House Amendment 001** (committee substitute) — [source](https://beta.ilga.gov/documents/legislation/103/SB/PDF/10300SB3412ham001.pdf)
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4. **Senate Amendment 001** (committee substitute) — [source](https://beta.ilga.gov/documents/legislation/103/SB/PDF/10300SB3412sam001.pdf)
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5. **Senate Amendment 002** (committee substitute) — [source](https://beta.ilga.gov/documents/legislation/103/SB/PDF/10300SB3412sam002.pdf)
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6. **Senate Amendment 003** (committee substitute) — [source](https://beta.ilga.gov/documents/legislation/103/SB/PDF/10300SB3412sam003.pdf)
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7. **Enrolled** (enrolled) — [source](https://beta.ilga.gov/documents/legislation/103/SB/PDF/10300SB3412enr.pdf)
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## Votes
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- Concurrence — **58–0** (pass) · lower
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- Executive, Amendment 1 — **9–0** (pass) · lower
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- Executive, Amendment 3 — **9–0** (pass) · lower
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- Financial Institutions & Licensing — **11–0** (pass) · lower
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- Executive — **12–0** (pass) · lower
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- Third Reading — **56–0** (pass) · lower
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- Third Reading — **108–0** (pass) · lower
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- Executive — **12–0** (pass) · lower
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## Sponsors
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- Laura Ellman — primary (person)
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- Margaret Croke — primary (person)
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- Cristina Castro — cosponsor (person)
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- Marcus C. Evans, Jr. — cosponsor (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2024-02-08** Filed with Secretary by Sen. Cristina Castro `filing`
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- **2024-02-08** First Reading `reading-1`
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- **2024-02-08** Referred to Assignments
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- **2024-02-20** Assigned to Executive `referral-committee`
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- **2024-03-15** Rule 2-10 Committee Deadline Established As April 5, 2024
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- **2024-03-21** Chief Sponsor Changed to Sen. Laura Ellman
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- **2024-03-21** Added as Chief Co-Sponsor Sen. Cristina Castro
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- **2024-03-22** Do Pass Executive; 012-000-001
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- **2024-03-22** Placed on Calendar Order of 2nd Reading April 9, 2024 `reading-2`
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- **2024-04-08** Senate Floor Amendment No. 1 Filed with Secretary by Sen. Laura Ellman `amendment-introduction`
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- **2024-04-08** Senate Floor Amendment No. 1 Referred to Assignments
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- **2024-04-09** Senate Floor Amendment No. 1 Assignments Refers to Executive
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- **2024-04-10** Second Reading `reading-2`
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- **2024-04-10** Placed on Calendar Order of 3rd Reading April 11, 2024
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- **2024-04-12** Senate Floor Amendment No. 2 Filed with Secretary by Sen. Laura Ellman `amendment-introduction`
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- **2024-04-12** Senate Floor Amendment No. 2 Referred to Assignments
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- **2024-04-12** Rule 2-10 Third Reading Deadline Established As April 19, 2024
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- **2024-04-16** Senate Floor Amendment No. 2 Pursuant to Senate Rule 3-8 (b-1), the following amendments will remain in the Committee on Assignments
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- **2024-04-19** Rule 2-10 Third Reading Deadline Established As May 3, 2024
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- **2024-05-01** Senate Floor Amendment No. 3 Filed with Secretary by Sen. Laura Ellman `amendment-introduction`
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- **2024-05-01** Senate Floor Amendment No. 3 Referred to Assignments
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- **2024-05-01** Senate Floor Amendment No. 3 Assignments Refers to Executive
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- **2024-05-02** Senate Floor Amendment No. 1 Recommend Do Adopt Executive; 009-000-000
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- **2024-05-02** Senate Floor Amendment No. 3 Recommend Do Adopt Executive; 009-000-000
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- **2024-05-02** Recalled to Second Reading `reading-2`
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- **2024-05-02** Senate Floor Amendment No. 1 Adopted; Ellman `amendment-passage`
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- **2024-05-02** Senate Floor Amendment No. 3 Adopted; Ellman `amendment-passage`
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- **2024-05-02** Placed on Calendar Order of 3rd Reading
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- **2024-05-02** Third Reading - Passed; 056-000-000 `passage, reading-3`
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- **2024-05-02** Senate Floor Amendment No. 2 Tabled Pursuant to Rule 5-4(a) `amendment-failure`
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- **2024-05-03** Arrived in House `introduction`
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- **2024-05-03** Chief House Sponsor Rep. Marcus C. Evans, Jr.
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- **2024-05-03** First Reading `reading-1`
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- **2024-05-03** Referred to Rules Committee
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- **2024-05-13** Assigned to Financial Institutions and Licensing Committee `referral-committee`
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- **2024-05-13** Committee/Final Action Deadline Extended-9(b) May 24, 2024
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- **2024-05-16** Alternate Chief Sponsor Changed to Rep. Margaret Croke
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- **2024-05-16** Added Alternate Chief Co-Sponsor Rep. Marcus C. Evans, Jr.
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- **2024-05-16** House Committee Amendment No. 1 Filed with Clerk by Rep. Margaret Croke `amendment-introduction`
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- **2024-05-16** House Committee Amendment No. 1 Referred to Rules Committee
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- **2024-05-20** House Committee Amendment No. 1 Rules Refers to Financial Institutions and Licensing Committee
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- **2024-05-20** House Committee Amendment No. 1 Adopted in Financial Institutions and Licensing Committee; by Voice Vote `amendment-passage`
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- **2024-05-20** Do Pass as Amended / Short Debate Financial Institutions and Licensing Committee; 011-000-000
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- **2024-05-21** Placed on Calendar 2nd Reading - Short Debate `reading-2`
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- **2024-05-21** Second Reading - Short Debate `reading-2`
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- **2024-05-21** Held on Calendar Order of Second Reading - Short Debate `reading-2`
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- **2024-05-22** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2024-05-22** Third Reading - Short Debate - Passed 108-000-000 `passage, reading-3`
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- **2024-05-22** Secretary's Desk - Concurrence House Amendment(s) 1
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- **2024-05-22** Placed on Calendar Order of Concurrence House Amendment(s) 1 - May 22, 2024
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- **2024-05-23** House Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Laura Ellman `filing`
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- **2024-05-23** House Committee Amendment No. 1 Motion to Concur Referred to Assignments
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- **2024-05-23** House Committee Amendment No. 1 Motion to Concur Assignments Referred to Executive
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- **2024-05-25** House Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Executive; 012-000-000
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- **2024-05-26** House Committee Amendment No. 1 Senate Concurs 058-000-000
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- **2024-05-26** Senate Concurs
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- **2024-05-26** Passed Both Houses
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- **2024-06-24** Sent to the Governor `executive-receipt`
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- **2024-08-09** Governor Approved `executive-signature`
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- **2024-08-09** Effective Date August 9, 2024; Some Provisions;
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- **2024-08-09** Effective Date January 1, 2025; Some Provisions
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- **2024-08-09** Public Act . . . . . . . . . 103-0991 `became-law`
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/d7381945-3c7d-4629-bc53-8ac12c0b3c32`. Confidence: reported (aggregated from official Illinois legislature records).
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