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| | 103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
HB3233 Introduced 2/17/2023, by Rep. Elizabeth "Lisa" Hernandez SYNOPSIS AS INTRODUCED:
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| 205 ILCS 405/26 new | | 205 ILCS 657/94 new | |
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Amends the Currency Exchange Act. Provides that a customer who uses a service of a licensee to send money, money orders, or other evidences of money to a destination in a foreign country shall be offered an option to voluntarily donate a portion of those payments to the Illinois DREAM Fund by rounding the amount of the transaction up to the nearest dollar. Provides that the option to donate to the Illinois DREAM Fund must be presented to the customer before the completion of that transaction. Provides that the licensee shall ensure that the donated amount that is equal to the increase in amount by rounding up to the nearest dollar is provided to the Illinois DREAM Fund. Amends the Transmitters of Money Act. Provides that a customer who uses a service of a licensee to sell or issue payment instruments, transmit money, or exchange payment instruments or money of the United States government or a foreign government to or from money of another government shall be offered an option to voluntarily donate a portion of those payments to the Illinois DREAM Fund by rounding the amount of the transaction up to the nearest dollar. Provides that the option to donate to the Illinois DREAM Fund must be presented to the customer before the completion of that transaction. Provides that the licensee shall ensure that the donated amount that is equal to the increase in amount by rounding up to the nearest dollar is provided to the Illinois DREAM Fund.
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| | A BILL FOR |
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| | HB3233 | | LRB103 29414 BMS 55805 b |
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| 1 | | AN ACT concerning regulation.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Currency Exchange Act is amended by adding |
| 5 | | Section 26 as follows:
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| 6 | | (205 ILCS 405/26 new) |
| 7 | | Sec. 26. Donations; Illinois DREAM Fund. A customer who |
| 8 | | uses a service of a licensee to send money, money orders, or |
| 9 | | other evidences of money to a destination in a foreign country |
| 10 | | shall be offered an option to voluntarily donate a portion of |
| 11 | | the money, money order, or other evidence of money to the |
| 12 | | Illinois DREAM Fund by rounding the amount of the transaction |
| 13 | | up to the nearest dollar. The option to donate to the Illinois |
| 14 | | DREAM Fund must be presented to the customer before the |
| 15 | | completion of that transaction. The licensee shall ensure that |
| 16 | | the donated amount that is equal to the increase in amount by |
| 17 | | rounding up to the nearest dollar is provided to the Illinois |
| 18 | | DREAM Fund.
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| 19 | | Section 10. The Transmitters of Money Act is amended by |
| 20 | | adding Section 94 as follows:
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| 21 | | (205 ILCS 657/94 new) |