Illinois · Senate Bill 3412 · 103rd General Assembly

UNIFORM MONEY TRANSMISSION ACT

SB 3412 Sponsored by Laura Ellman Became law

  1. Introduced Feb 8, 2024
  2. In committee Feb 8, 2024
  3. Passed the Senate May 2, 2024
  4. Passed the House May 22, 2024
  5. To the governor Jun 24, 2024
  6. Became law Aug 9, 2024

What it does

The legislature's own summary of the bill, or its official long title.

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…

Read the full title (143 words)

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 Provides that the Transmitters of Money Act is repealed on January 1, 2026.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.

Every action

62 steps, oldest first, as the legislature records them.

Show the 54 earlier steps
  1. SenateFiled with Secretary by Sen. Cristina Castro
  2. SenateFirst Reading
  3. CommitteeReferred to Assignments · Senate Assignments
  4. CommitteeAssigned to Executive · Senate Executive
  5. SenateRule 2-10 Committee Deadline Established As April 5, 2024
  6. SenateChief Sponsor Changed to Sen. Laura Ellman
  7. SenateAdded as Chief Co-Sponsor Sen. Cristina Castro
  8. CommitteeDo Pass Executive; 012-000-001 · Senate Executive
  9. SenatePlaced on Calendar Order of 2nd Reading April 9, 2024
  10. SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Laura Ellman
  11. CommitteeSenate Floor Amendment No. 1 Referred to Assignments · Senate Assignments
  12. CommitteeSenate Floor Amendment No. 1 Assignments Refers to Executive · Senate Assignments
  13. SenateSecond Reading
  14. SenatePlaced on Calendar Order of 3rd Reading April 11, 2024
  15. SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Laura Ellman
  16. CommitteeSenate Floor Amendment No. 2 Referred to Assignments · Senate Assignments
  17. SenateRule 2-10 Third Reading Deadline Established As April 19, 2024
  18. CommitteeSenate Floor Amendment No. 2 Pursuant to Senate Rule 3-8 (b-1), the following amendments will remain in the Committee on Assignments · Senate Assignments
  19. SenateRule 2-10 Third Reading Deadline Established As May 3, 2024
  20. SenateSenate Floor Amendment No. 3 Filed with Secretary by Sen. Laura Ellman
  21. CommitteeSenate Floor Amendment No. 3 Referred to Assignments · Senate Assignments
  22. CommitteeSenate Floor Amendment No. 3 Assignments Refers to Executive · Senate Assignments
  23. CommitteeSenate Floor Amendment No. 1 Recommend Do Adopt Executive; 009-000-000 · Senate Executive
  24. CommitteeSenate Floor Amendment No. 3 Recommend Do Adopt Executive; 009-000-000 · Senate Executive
  25. SenateRecalled to Second Reading
  26. SenateSenate Floor Amendment No. 1 Adopted; Ellman
  27. SenateSenate Floor Amendment No. 3 Adopted; Ellman
  28. SenatePlaced on Calendar Order of 3rd Reading
  29. SenateThird Reading - Passed; 056-000-000
  30. SenateSenate Floor Amendment No. 2 Tabled Pursuant to Rule 5-4(a)
  31. HouseArrived in House
  32. HouseChief House Sponsor Rep. Marcus C. Evans, Jr.
  33. HouseFirst Reading
  34. CommitteeReferred to Rules Committee · House Rules
  35. CommitteeAssigned to Financial Institutions and Licensing Committee · House Financial Institutions & Licensing
  36. HouseCommittee/Final Action Deadline Extended-9(b) May 24, 2024
  37. HouseAlternate Chief Sponsor Changed to Rep. Margaret Croke
  38. HouseAdded Alternate Chief Co-Sponsor Rep. Marcus C. Evans, Jr.
  39. HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Margaret Croke
  40. CommitteeHouse Committee Amendment No. 1 Referred to Rules Committee · House Rules
  41. CommitteeHouse Committee Amendment No. 1 Rules Refers to Financial Institutions and Licensing Committee · House Financial Institutions & Licensing
  42. CommitteeHouse Committee Amendment No. 1 Adopted in Financial Institutions and Licensing Committee; by Voice Vote · House Financial Institutions & Licensing
  43. CommitteeDo Pass as Amended / Short Debate Financial Institutions and Licensing Committee; 011-000-000 · House Financial Institutions & Licensing
  44. HousePlaced on Calendar 2nd Reading - Short Debate
  45. HouseSecond Reading - Short Debate
  46. HouseHeld on Calendar Order of Second Reading - Short Debate
  47. HousePlaced on Calendar Order of 3rd Reading - Short Debate
  48. HouseThird Reading - Short Debate - Passed 108-000-000
  49. SenateSecretary's Desk - Concurrence House Amendment(s) 1
  50. SenatePlaced on Calendar Order of Concurrence House Amendment(s) 1 - May 22, 2024
  51. SenateHouse Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Laura Ellman
  52. CommitteeHouse Committee Amendment No. 1 Motion to Concur Referred to Assignments · Senate Assignments
  53. CommitteeHouse Committee Amendment No. 1 Motion to Concur Assignments Referred to Executive · Senate Assignments
  54. CommitteeHouse Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Executive; 012-000-000 · Senate Executive
  1. SenateHouse Committee Amendment No. 1 Senate Concurs 058-000-000
  2. SenateSenate Concurs
  3. SenatePassed Both Houses
  4. SenateSent to the Governor
  5. SenateGovernor Approved
  6. SenateEffective Date August 9, 2024; Some Provisions;
  7. SenateEffective Date January 1, 2025; Some Provisions
  8. SenatePublic Act . . . . . . . . . 103-0991

Roll calls

8 recorded votes: 3 on the floor, 5 in committee. Each shows how every member voted.

Third Reading · Full Senate

Passed 56–0
May 2, 2024 · journal entry
Yes 56 No 0 Not voting 2
Democrats: 38 yes, 0 no Republicans: 18 yes, 0 no
How each member voted

Yes · 56

Not voting · 2

Third Reading · Full House

Passed 108–0
May 22, 2024 · journal entry
Yes 108 No 0 Not voting 9
Democrats: 70 yes, 0 no Republicans: 38 yes, 0 no
How each member voted

Yes · 108

Not voting · 3

Excused · 6

House Committee Amendment No. 1 - Concurrence · Full Senate

Passed 58–0
May 26, 2024 · journal entry
Yes 58 No 0 Not voting 1
Democrats: 40 yes, 0 no Republicans: 18 yes, 0 no
How each member voted

Yes · 58

Not voting · 1

Committee and other votes

DateWhereQuestionResult
Mar 21, 2024 Senate Executive Executive - Do Pass
Members

Yes · 12

Not voting · 1

 12–0
May 1, 2024 Senate Executive Senate Floor Amendment No. 1 - Executive - Recommend Do Adopt
Members

Yes · 9

Not voting · 4

 9–0
May 1, 2024 Senate Executive Senate Floor Amendment No. 3 - Executive - Recommend Do Adopt
Members

Yes · 9

Not voting · 4

 9–0
May 20, 2024 House Financial Institutions & Licensing Financial Institutions & Licensing - Do Pass As Amended
Members

Yes · 11

 Passed 11–0
May 25, 2024 Senate Executive House Committee Amendment No. 1 - Executive - Recommend Do Adopt
Members

Yes · 12

Not voting · 1

 Passed 12–0

Sponsors

The member who introduced it, joined by 2 cosponsors: 2 Democrats.

All 2 cosponsors

From Illinois's official records (www.ilga.gov), checked Nov 13, 2026. Text links go to the official versions; LegiList does not copy bill text.