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<xml>
<title>Illinois General Assembly - Bill Status for HB 5477         </title>
<shortdesc>TRANSMITTERS OF MONEY-CANNABIS</shortdesc>
<sponsor>
<sponsorhead1>House Sponsors</sponsorhead1><sponsors>Rep. Lamont J. Robinson, Jr.</sponsors>
</sponsor>
<lastaction>
<statusdate>1/13/2021</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</lastaction>
<synopsis>
<synopsistitle></synopsistitle>
<reference>205 ILCS 657/90</reference><aliasreference></aliasreference><SynopsisText>     Amends the Transmitters of Money Act. Provides that the Director of Financial Institutions of the Department of Financial and Professional Regulation shall not issue an order against a money transmitter for practices contrary to the Act solely because the entity provides or has provided financial services to a cannabis-related legitimate business. Provides that the Director shall not prohibit, penalize, or otherwise discourage a money transmitter from providing financial services to a cannabis-related legitimate business solely because the entity provides or has provided financial services to a cannabis-related legitimate business. Provides that the Director shall not recommend, incentivize, or encourage a money transmitter not to offer financial services or to downgrade or cancel the financial services offered to an account holder solely because of specified reasons related to owning or operating a cannabis-related legitimate business.</SynopsisText></synopsis>
<actions>
<statusdate>2/14/2020</statusdate><chamber>House</chamber><action>Filed with the Clerk by Rep. Lamont J. Robinson, Jr.</action>
<statusdate>2/18/2020</statusdate><chamber>House</chamber><action>First Reading</action>
<statusdate>2/18/2020</statusdate><chamber>House</chamber><action>Referred to Rules Committee</action>
<statusdate>3/17/2020</statusdate><chamber>House</chamber><action>Assigned to Financial Institutions Committee</action>
<statusdate>6/23/2020</statusdate><chamber>House</chamber><action>Rule 19(b) / Re-referred to Rules Committee</action>
<statusdate>1/13/2021</statusdate><chamber>House</chamber><action>Session Sine Die</action>
</actions>
</xml>

