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| | HB5287 Engrossed | | LRB102 25244 HLH 34517 b |
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| 1 | | AN ACT concerning revenue.
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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 Department of Revenue Law of the
Civil |
| 5 | | Administrative Code of Illinois is amended by adding Section |
| 6 | | 2505-260 as follows:
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| 7 | | (20 ILCS 2505/2505-260 new) |
| 8 | | Sec. 2505-260. Payment by cryptocurrency. The Department |
| 9 | | may adopt rules for payment by cryptocurrency of any amount |
| 10 | | due under any Act administered by the Department only when the |
| 11 | | Department is not required to pay a discount fee or charge to |
| 12 | | convert the cryptocurrency to United States dollars. |
| 13 | | As used in this Section: |
| 14 | | "Blockchain" has the meaning provided in Section 5 of |
| 15 | | the Blockchain Business Development Act. |
| 16 | | "Cryptocurrency" means a form of payment created using |
| 17 | | cryptographic techniques enabling it to be bought, sold, |
| 18 | | or traded securely using blockchain transactions.
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| 19 | | Section 99. Effective date. This Act takes effect upon |
| 20 | | becoming law.
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