TRANSMITTING MONEY-DEFINITION House SponsorsRep. Lou Lang Senate Sponsors(Sen. Kwame Raoul) 8/18/2014HousePublic Act . . . . . . . . . 98-0991 205 ILCS 657/5 Amends the Transmitters of Money Act. Changes the definition of "transmitting money" to exclude providing payment services to a seller of goods or services, a payee, or a payment processor in connection with the sale of goods or services. Effective immediately.House Committee Amendment No. 2 Deletes reference to:205 ILCS 657/5Adds reference to:205 ILCS 657/15Replaces everything after the enacting clause. Amends the Transmitters of Money Act. Provides that an operator of a payment system is exempt from the licensing requirements of the Act to the extent that it provides processing, clearing, or settlement services to persons exempt under the Act in connection with certain transactions and transfers. Effective immediately. 9/25/2013HouseFiled with the Clerk by Rep. Lou Lang 10/22/2013HouseFirst Reading 10/22/2013HouseReferred to Rules Committee 1/28/2014HouseAssigned to Financial Institutions Committee 2/24/2014HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Lou Lang 2/24/2014HouseHouse Committee Amendment No. 1 Referred to Rules Committee 2/27/2014HouseHouse Committee Amendment No. 2 Filed with Clerk by Rep. Lou Lang 2/27/2014HouseHouse Committee Amendment No. 2 Referred to Rules Committee 3/3/2014HouseHouse Committee Amendment No. 2 Rules Refers to Financial Institutions Committee 3/4/2014HouseHouse Committee Amendment No. 2 Adopted in Financial Institutions Committee; by Voice Vote 3/4/2014HouseDo Pass as Amended / Short Debate Financial Institutions Committee; 015-000-000 3/4/2014HouseHouse Committee Amendment No. 1 Tabled Pursuant to Rule 40 3/5/2014HousePlaced on Calendar 2nd Reading - Short Debate 3/6/2014HouseSecond Reading - Short Debate 3/6/2014HousePlaced on Calendar Order of 3rd Reading - Short Debate 3/19/2014HouseThird Reading - Short Debate - Passed 075-028-000 3/19/2014SenateArrive in Senate 3/19/2014SenatePlaced on Calendar Order of First Reading March 20, 2014 3/19/2014SenateChief Senate Sponsor Sen. Kwame Raoul 3/20/2014SenateFirst Reading 3/20/2014SenateReferred to Assignments 5/1/2014SenateAssigned to Financial Institutions 5/7/2014SenateDo Pass Financial Institutions; 007-000-000 5/7/2014SenatePlaced on Calendar Order of 2nd Reading May 8, 2014 5/15/2014SenateSecond Reading 5/15/2014SenatePlaced on Calendar Order of 3rd Reading May 19, 2014 5/23/2014SenateRule 2-10 Committee/3rd Reading Deadline Established As May 31, 2014 5/26/2014SenateThird Reading - Passed; 045-000-000 5/26/2014HousePassed Both Houses 6/24/2014HouseSent to the Governor 8/18/2014HouseGovernor Approved 8/18/2014HouseEffective Date August 18, 2014 8/18/2014HousePublic Act . . . . . . . . . 98-0991