HB0742 - 104th General Assembly (2025-2026)
REGULATION-TECH
Last Action
6/16/2025 - House: Public Act . . . . . . . . . 104-0004
House Sponsors
Rep. Margaret Croke - Curtis J. Tarver, II - Nicholas K. Smith - Jennifer Gong-Gershowitz - Daniel Didech, Amy Briel, Hoan Huynh, Eva-Dina Delgado, Lawrence "Larry" Walsh, Jr., Angelica Guerrero-Cuellar, Martha Deuter, Matt Hanson, Natalie A. Manley, Joyce Mason, Harry Benton, Katie Stuart, Dave Vella, Gregg Johnson, Dagmara Avelar, Rick Ryan, Sharon Chung, Jaime M. Andrade, Jr., Michael J. Kelly, Amy Elik, Travis Weaver, Bradley Fritts, Regan Deering, Kevin Schmidt, Charles Meier, Dan Swanson, Wayne A. Rosenthal, Terra Costa Howard, Jay Hoffman, Mary Gill, Ryan Spain, Dan Ugaste, Jackie Haas and John M. Cabello
Senate Sponsors
(Sen. Mark L. Walker, Mike Simmons, Laura Ellman, Mike Porfirio, Adriane Johnson, Robert Peters, Mary Edly-Allen, Rachel Ventura, Karina Villa, Linda Holmes and Graciela Guzmán)
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Banking Act. Makes a technical change in a Section concerning the short title.
House Floor Amendment No. 2
Deletes reference to:
Adds reference to:
Replaces everything after the enacting clause. Creates the Digital Assets and Consumer Protection Act. Provides that the Department of Financial and Professional Regulation shall regulate digital asset business activity in the State. Sets forth provisions concerning: applicability; the powers and duties of the Department; funds; customer protections; custody and protection of customer assets; covered exchanges; compliance; registration; supervision; records; additional procedural provisions; confidentiality; violations; enforcement; rulemaking authority; and severability. Creates the Special Purpose Trust Company Article in the Corporate Fiduciary Act. Sets forth provisions concerning certificates of authority; rulemaking and organization; certificates of authority for foreign corporate fiduciaries; eligibility; fees; and certificates of reciprocity. Makes other changes to various Acts. Effective immediately.
Senate Floor Amendment No. 1
Deletes reference to:
Adds reference to:
Replaces everything after the enacting clause. Amends the Interchange Fee Prohibition Act by changing the effective date of the Act to July 1, 2026 (currently, July 1, 2025). Effective immediately.
Actions
| Date | Chamber | Action |
|---|---|---|
| 12/17/2024 | House | Prefiled with Clerk by Rep. Emanuel "Chris" Welch |
| 1/09/2025 | House | First Reading |
| 1/09/2025 | House | Referred to Rules Committee |
| 3/04/2025 | House | Assigned to Executive Committee |
| 3/12/2025 | House | Do Pass / Short Debate Executive Committee; 012-000-000 |
| 3/12/2025 | House | Placed on Calendar 2nd Reading - Short Debate |
| 3/20/2025 | House | House Floor Amendment No. 1 Filed with Clerk by Rep. Edgar González, Jr. |
| 3/20/2025 | House | House Floor Amendment No. 1 Referred to Rules Committee |
| 3/25/2025 | House | House Floor Amendment No. 1 Rules Refers to Financial Institutions and Licensing Committee |
| 3/25/2025 | House | Chief Sponsor Changed to Rep. Edgar González, Jr. |
| 3/26/2025 | House | Second Reading - Short Debate |
| 3/26/2025 | House | Held on Calendar Order of Second Reading - Short Debate |
| 4/07/2025 | House | House Floor Amendment No. 2 Filed with Clerk by Rep. Edgar González, Jr. |
| 4/07/2025 | House | House Floor Amendment No. 2 Referred to Rules Committee |
| 4/07/2025 | House | House Floor Amendment No. 2 Rules Refers to Financial Institutions and Licensing Committee |
| 4/08/2025 | House | House Floor Amendment No. 2 Recommends Be Adopted Financial Institutions and Licensing Committee; 008-004-000 |
| 4/10/2025 | House | House Floor Amendment No. 2 Adopted |
| 4/10/2025 | House | Placed on Calendar Order of 3rd Reading - Short Debate |
| 4/10/2025 | House | Chair Rules placed on Standard Debate |
| 4/10/2025 | House | Third Reading - Short Debate - Passed 074-037-001 |
| 4/10/2025 | House | House Floor Amendment No. 1 Tabled |
| 4/10/2025 | House | Motion Filed to Reconsider Vote Rep. John M. Cabello |
| 4/10/2025 | House | Added Co-Sponsor Rep. Amy Briel |
| 4/10/2025 | House | Motion to Reconsider Vote - Lost 038-073-000 |
| 4/10/2025 | House | Added Co-Sponsor Rep. Hoan Huynh |
| 4/14/2025 | Senate | Arrive in Senate |
| 4/14/2025 | Senate | Placed on Calendar Order of First Reading |
| 4/14/2025 | Senate | Chief Senate Sponsor Sen. Don Harmon |
| 4/14/2025 | Senate | First Reading |
| 4/14/2025 | Senate | Referred to Assignments |
| 4/29/2025 | Senate | Assigned to Executive |
| 4/29/2025 | Senate | Alternate Chief Sponsor Changed to Sen. Mark L. Walker |
| 5/09/2025 | Senate | Rule 2-10 Committee Deadline Established As May 23, 2025 |
| 5/14/2025 | Senate | Added as Alternate Co-Sponsor Sen. Mike Simmons |
| 5/14/2025 | Senate | Added as Alternate Co-Sponsor Sen. Laura Ellman |
| 5/14/2025 | Senate | Added as Alternate Co-Sponsor Sen. Mike Porfirio |
| 5/14/2025 | Senate | Added as Alternate Co-Sponsor Sen. Adriane Johnson |
| 5/15/2025 | Senate | Do Pass Executive; 009-004-000 |
| 5/15/2025 | Senate | Second Reading |
| 5/15/2025 | Senate | Placed on Calendar Order of 3rd Reading May 20, 2025 |
| 5/15/2025 | Senate | Added as Alternate Co-Sponsor Sen. Robert Peters |
| 5/16/2025 | Senate | Added as Alternate Co-Sponsor Sen. Mary Edly-Allen |
| 5/16/2025 | Senate | Added as Alternate Co-Sponsor Sen. Rachel Ventura |
| 5/16/2025 | Senate | Added as Alternate Co-Sponsor Sen. Karina Villa |
| 5/23/2025 | Senate | Rule 2-10 Third Reading/Passage Deadline Established As June 1, 2025 |
| 5/26/2025 | Senate | Added as Alternate Co-Sponsor Sen. Linda Holmes |
| 5/27/2025 | Senate | Added as Alternate Co-Sponsor Sen. Graciela Guzmán |
| 5/31/2025 | Senate | Senate Floor Amendment No. 1 Filed with Secretary by Sen. Mark L. Walker |
| 5/31/2025 | Senate | Senate Floor Amendment No. 1 Referred to Assignments |
| 5/31/2025 | House | Chief Sponsor Changed to Rep. Margaret Croke |
| 5/31/2025 | House | Added Chief Co-Sponsor Rep. Curtis J. Tarver, II |
| 5/31/2025 | House | Added Chief Co-Sponsor Rep. Nicholas K. Smith |
| 5/31/2025 | House | Added Chief Co-Sponsor Rep. Jennifer Gong-Gershowitz |
| 5/31/2025 | House | Added Chief Co-Sponsor Rep. Daniel Didech |
| 5/31/2025 | House | Added Co-Sponsor Rep. Eva-Dina Delgado |
| 5/31/2025 | House | Added Co-Sponsor Rep. Lawrence "Larry" Walsh, Jr. |
| 5/31/2025 | House | Added Co-Sponsor Rep. Angelica Guerrero-Cuellar |
| 5/31/2025 | House | Added Co-Sponsor Rep. Martha Deuter |
| 5/31/2025 | House | Added Co-Sponsor Rep. Matt Hanson |
| 5/31/2025 | House | Added Co-Sponsor Rep. Natalie A. Manley |
| 5/31/2025 | House | Added Co-Sponsor Rep. Joyce Mason |
| 5/31/2025 | House | Added Co-Sponsor Rep. Harry Benton |
| 5/31/2025 | House | Added Co-Sponsor Rep. Katie Stuart |
| 5/31/2025 | House | Added Co-Sponsor Rep. Dave Vella |
| 5/31/2025 | House | Added Co-Sponsor Rep. Gregg Johnson |
| 5/31/2025 | House | Added Co-Sponsor Rep. Dagmara Avelar |
| 5/31/2025 | House | Added Co-Sponsor Rep. Rick Ryan |
| 5/31/2025 | House | Added Co-Sponsor Rep. Sharon Chung |
| 5/31/2025 | House | Added Co-Sponsor Rep. Jaime M. Andrade, Jr. |
| 5/31/2025 | House | Added Co-Sponsor Rep. Michael J. Kelly |
| 5/31/2025 | House | Added Co-Sponsor Rep. Amy Elik |
| 5/31/2025 | House | Added Co-Sponsor Rep. Travis Weaver |
| 5/31/2025 | House | Added Co-Sponsor Rep. Bradley Fritts |
| 5/31/2025 | House | Added Co-Sponsor Rep. Regan Deering |
| 5/31/2025 | House | Added Co-Sponsor Rep. Kevin Schmidt |
| 5/31/2025 | House | Added Co-Sponsor Rep. Charles Meier |
| 5/31/2025 | House | Added Co-Sponsor Rep. Dan Swanson |
| 5/31/2025 | House | Added Co-Sponsor Rep. Wayne A. Rosenthal |
| 5/31/2025 | House | Added Co-Sponsor Rep. Terra Costa Howard |
| 5/31/2025 | House | Added Co-Sponsor Rep. Jay Hoffman |
| 5/31/2025 | House | Added Co-Sponsor Rep. Mary Gill |
| 5/31/2025 | House | Added Co-Sponsor Rep. Ryan Spain |
| 5/31/2025 | House | Added Co-Sponsor Rep. Dan Ugaste |
| 5/31/2025 | Senate | Senate Floor Amendment No. 1 Be Approved for Consideration Assignments |
| 6/01/2025 | Senate | Recalled to Second Reading |
| 6/01/2025 | Senate | Senate Floor Amendment No. 1 Adopted; Walker |
| 6/01/2025 | Senate | Placed on Calendar Order of 3rd Reading |
| 6/01/2025 | Senate | 3/5 Vote Required |
| 6/01/2025 | Senate | Third Reading - Passed; 052-004-000 |
| 6/01/2025 | House | Arrived in House |
| 6/01/2025 | House | Placed on Calendar Order of Concurrence Senate Amendment(s) 1 |
| 6/01/2025 | House | Senate Floor Amendment No. 1 Motion Filed Concur Rep. Margaret Croke |
| 6/01/2025 | House | Senate Floor Amendment No. 1 Motion to Concur Referred to Rules Committee |
| 6/01/2025 | House | Senate Floor Amendment No. 1 Motion to Concur Recommends Be Adopted Rules Committee; 003-002-000 |
| 6/01/2025 | House | Added Co-Sponsor Rep. Jackie Haas |
| 6/01/2025 | House | Motion Filed to Suspend House Rule(s) for Immediate Consideration Rep. Robyn Gabel |
| 6/01/2025 | House | Motion Prevailed to Suspend Rule 074-038-000 |
| 6/01/2025 | House | Senate Floor Amendment No. 1 House Concurs 103-009-000 |
| 6/01/2025 | House | Passed Both Houses |
| 6/04/2025 | House | Added Co-Sponsor Rep. John M. Cabello |
| 6/09/2025 | House | Sent to the Governor |
| 6/16/2025 | House | Governor Approved |
| 6/16/2025 | House | Effective Date June 16, 2025 |
| 6/16/2025 | House | Public Act . . . . . . . . . 104-0004 |