HB4533 EngrossedLRB104 16567 BAB 29965 b

1    AN ACT concerning regulation.
 
2    Be it enacted by the People of the State of Illinois, 
3represented in the General Assembly:
 
4    Section 5. The Uniform Money Transmission Modernization 
5Act is amended by adding Section 12-5 as follows:
 
6    (205 ILCS 658/12-5 new)
7    Sec. 12-5. Donations; Illinois DREAM Fund.
8    (a) Licensees may offer every customer who transmits money 
9internationally the option to make a voluntary donation to the 
10Illinois DREAM Fund. Licensees may present customers with the 
11option to make a donation to the Illinois DREAM Fund before the 
12customer completes the transaction. The amount of the donation 
13shall be no less than $1 per transaction. The Department may 
14adopt rules to administer, implement, and interpret the 
15provisions of this Section, including, but not limited to, the 
16amount of the donation options to be presented to customers, 
17the manner and timing of receiving donations and remitting the 
18donations to the Illinois DREAM Fund, and the methods by which 
19the licensee may offer the option to donate to customers. 
20Licensees shall not use, deduct, or retain any amounts from 
21donations to the Illinois DREAM Fund, except any actual cost 
22imposed by third-party payment processors to receive or remit 
23the funds. 
 
 
HB4533 Engrossed- 2 -LRB104 16567 BAB 29965 b

1    (b) The Department shall provide to licensees under this 
2Act electronic copies of all marketing materials created by 
3the Illinois DREAM Fund Commission for licensees pursuant to 
4subsection (e) of Section 67 of the Higher Education Student 
5Assistance Act.