Substitute for Raised H.B. No. 5211
Session Year 2024
 

AN ACT CONCERNING VIRTUAL CURRENCY AND MONEY TRANSMISSION.

To: (1) Redefine "permissible investment" and define "receipt" in the money transmission statutes; (2) deem certain persons to be engaged in the business of money transmission and require such persons to be licensed; (3) require money transmission licensees to maintain a plan and accounting regarding winding down operations and to meet certain conditions in order to terminate such licensees' businesses; (4) establish a maximum fee that owners or operators of virtual currency kiosks may charge for a specific service and eliminate a certain requirement for customers to cancel and receive a refund for certain virtual currency transactions; (5) require money transmission licensees, or such licensees' authorized delegates, to provide receipts to senders; and (6) specify that the Banking Commissioner may adopt, amend and rescind regulations, forms and orders governing the business use of nonfungible tokens.

Introduced by:
Banking Committee
 New today  2-4 days old  5 days & older
   Text of Bill
 Public Act No. 24-146  [doc]
 File No. 178 [doc]
 BA Joint Favorable  [doc]
 Raised Bill  [doc]
   Called Amendments
 House Schedule A LCO# 5038 (J) [doc]
   Uncalled Amendments
 House LCO Amendment #4919 (J)  [doc]
   Votes
 Senate Roll Call Vote 275
 House Roll Call Vote 140 AS AMENDED
   Committee Actions
 BA Joint Fav. Rpt
 BA Vote Tally Sheet (Joint Favorable)
   Fiscal Notes
 Fiscal Note for Amendment LCO 5038 (No Fiscal Impact)
 Fiscal Note for Amendment LCO 4919 (No Fiscal Impact)
 Fiscal Note for HB-5211, As Amended by House "A" (LCO 5038)
 Fiscal Note For File Copy 178
   Bill Analyses
 Bill Analysis for HB-5211, as amended by House "A"
 Bill Analysis For File Copy 178
 Summary for Public Act No. 24-146

Co-sponsors for Amendment LCO:

Bill History

 Date Action Taken
 6/6/2024Signed by the Governor
 5/31/2024Transmitted by Secretary of the State to Governor
 5/31/2024Transmitted to the Secretary of State
 5/22/2024(LCO)Public Act 24-146
 5/8/2024In Concurrence
 5/8/2024Senate Passed as Amended by House Amendment Schedule A
 5/8/2024Senate Adopted House Amendment Schedule A
 5/3/2024Senate Calendar Number 452
 5/3/2024Favorable Report, Tabled for the Calendar, Senate
 5/3/2024Immediate Transmittal to the Senate
 5/3/2024House Passed as Amended by House Amendment Schedule A
 5/3/2024House Adopted House Amendment Schedule A 5038
 4/2/2024(LCO)File Number 178
 4/2/2024House Calendar Number 153
 4/2/2024Favorable Report, Tabled for the Calendar, House
 4/2/2024(LCO)Reported Out of Legislative Commissioners' Office
 3/25/2024(LCO)Referred to Office of Legislative Research and Office of Fiscal Analysis 04/02/24 12:00 PM
 3/14/2024(LCO)Filed with Legislative Commissioners' Office
 3/12/2024(BA)Joint Favorable
 3/1/2024Public Hearing 03/05
 2/22/2024Referred to Joint Committee on Banking

Co-sponsors of HB-5211

Rep. Travis Simms, 140th Dist.
Rep. Jaime S. Foster, 57th Dist.
Rep. Patricia A. Dillon, 92nd Dist.
Rep. Kara Rochelle, 104th Dist.
Rep. Bill Buckbee, 67th Dist.
Rep. Greg S. Howard, 43rd Dist.
Rep. Farley Santos, 109th Dist.
Rep. Carol Hall, 59th Dist.
Rep. Hubert D. Delany, 144th Dist.
Rep. Andre F. Baker, 124th Dist.
Rep. Tom Delnicki, 14th Dist.
Sen. Patricia Billie Miller, 27th Dist.
Rep. Martin Foncello, 107th Dist.
Sen. Eric C. Berthel, 32nd Dist.
Public Hearing Testimony  

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