|
Sen. Mark L. Walker
Filed: 3/12/2025
| | 10400SB1797sam001 | | LRB104 09833 BAB 23483 a |
|
|
| 1 | | AMENDMENT TO SENATE BILL 1797
|
| 2 | | AMENDMENT NO. ______. Amend Senate Bill 1797 on page 8, |
| 3 | | immediately below line 19, by inserting the following: |
| 4 | | "(d) Any reference to this Act shall include any rules |
| 5 | | adopted in accordance with this Act."; and
|
| 6 | | on page 11, line 2, by replacing "money transmissions" with |
| 7 | | "money transmission"; and
|
| 8 | | on page 26, line 25, by replacing "Section 120-50" with |
| 9 | | "Section 20-50"; and
|
| 10 | | on page 38, line 22, by replacing "Section 120-5" with |
| 11 | | "Section 20-5"; and
|
| 12 | | on page 40, line 1, by replacing "(N)" with "(O)"; and
|
| 13 | | on page 45, line 23, by replacing "Section 120-5" with |
|
| | 10400SB1797sam001 | - 2 - | LRB104 09833 BAB 23483 a |
|
|
| 1 | | "Section 20-25"; and
|
| 2 | | on page 55, by replacing lines 1 through 5 with the following: |
| 3 | | "(1) There is a rebuttable presumption of control if a |
| 4 | | person directly or indirectly owns, controls, holds with |
| 5 | | the power to vote, or holds proxies representing 10% or |
| 6 | | more of the then outstanding voting securities issued by |
| 7 | | the registrant."; and
|
| 8 | | on page 58, line 10, by replacing "Section 120-30" with |
| 9 | | "Section 20-30"; and
|
| 10 | | on page 66, line 7, by replacing "Section 120-5" with "Section |
| 11 | | 20-5"; and
|
| 12 | | on page 69, line 5, by replacing "120-70" with "20-70"; and
|
| 13 | | on page 69, line 13, by replacing "120-70" with "20-70"; and
|
| 14 | | on page 81, by replacing lines 4 through 17 with the following:
|
| 15 | | "Section 35-15. Transition period. |
| 16 | | (a) A covered person engaging in digital asset business |
| 17 | | activity without a registration under this Act shall not be |
| 18 | | considered in violation of Section 15-5 or 5-25 until July 1, |
| 19 | | 2027. |
|
| | 10400SB1797sam001 | - 3 - | LRB104 09833 BAB 23483 a |
|
|
| 1 | | (b) A covered person engaging in digital asset business |
| 2 | | activity shall not be considered in violation of Sections 5-5, |
| 3 | | 5-10, and 5-20 until January 1, 2027. |
| 4 | | (c) A covered exchange shall not be considered in |
| 5 | | violation of Section 5-15 until January 1, 2027. |
| 6 | | (d) Notwithstanding the foregoing, the Department may |
| 7 | | adopt rules pursuant to this Act upon this Act becoming law |
| 8 | | with such rules not to take effect earlier than January 1, |
| 9 | | 2026.". |
Translate