Illinois General Assembly - Bill Status for HB0742
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 Bill Status of HB0742  104th General Assembly

Short Description:  REGULATION-TECH

House Sponsors
Rep. Edgar González, Jr., Amy Briel and Hoan Huynh

Senate Sponsors
(Sen. Mark L. Walker)

Hearings
Executive Hearing May 14 2025 2:00PM Capitol 212 Springfield, IL


Last Action
DateChamber Action
  4/29/2025SenateAssigned to Executive

Statutes Amended In Order of Appearance
205 ILCS 5/1from Ch. 17, par. 301


Synopsis As Introduced
Amends the Illinois Banking Act. Makes a technical change in a Section concerning the short title.

House Floor Amendment No. 2
Deletes reference to:
205 ILCS 5/1
Adds reference to:
New Act
5 ILCS 140/7.5
30 ILCS 105/5.1030 new
205 ILCS 5/2from Ch. 17, par. 302
205 ILCS 5/30from Ch. 17, par. 337
205 ILCS 620/1-5.08from Ch. 17, par. 1551-5.08
205 ILCS 620/2-1from Ch. 17, par. 1552-1
205 ILCS 620/Art. IIA heading new
205 ILCS 620/2A-1 new
205 ILCS 620/2A-2 new
205 ILCS 620/2A-3 new
205 ILCS 620/2A-4 new
205 ILCS 620/4-1from Ch. 17, par. 1554-1
205 ILCS 620/4-2from Ch. 17, par. 1554-2
205 ILCS 620/4-5from Ch. 17, par. 1554-5
205 ILCS 620/4A-15
205 ILCS 620/5-1from Ch. 17, par. 1555-1
815 ILCS 505/2HHHH new

Replaces everything after the enacting clause. Creates the Digital Assets and Consumer Protection Act. Provides that the Department of Financial and Professional Regulation shall regulate digital asset business activity in the State. Sets forth provisions concerning: applicability; the powers and duties of the Department; funds; customer protections; custody and protection of customer assets; covered exchanges; compliance; registration; supervision; records; additional procedural provisions; confidentiality; violations; enforcement; rulemaking authority; and severability. Creates the Special Purpose Trust Company Article in the Corporate Fiduciary Act. Sets forth provisions concerning certificates of authority; rulemaking and organization; certificates of authority for foreign corporate fiduciaries; eligibility; fees; and certificates of reciprocity. Makes other changes to various Acts. Effective immediately.

Actions 
DateChamber Action
  12/17/2024HousePrefiled with Clerk by Rep. Emanuel "Chris" Welch
  1/9/2025HouseFirst Reading
  1/9/2025HouseReferred to Rules Committee
  3/4/2025HouseAssigned to Executive Committee
  3/12/2025HouseDo Pass / Short Debate Executive Committee; 012-000-000
  3/12/2025HousePlaced on Calendar 2nd Reading - Short Debate
  3/20/2025HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Edgar González, Jr.
  3/20/2025HouseHouse Floor Amendment No. 1 Referred to Rules Committee
  3/25/2025HouseHouse Floor Amendment No. 1 Rules Refers to Financial Institutions and Licensing Committee
  3/25/2025HouseChief Sponsor Changed to Rep. Edgar González, Jr.
  3/26/2025HouseSecond Reading - Short Debate
  3/26/2025HouseHeld on Calendar Order of Second Reading - Short Debate
  4/7/2025HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Edgar González, Jr.
  4/7/2025HouseHouse Floor Amendment No. 2 Referred to Rules Committee
  4/7/2025HouseHouse Floor Amendment No. 2 Rules Refers to Financial Institutions and Licensing Committee
  4/8/2025HouseHouse Floor Amendment No. 2 Recommends Be Adopted Financial Institutions and Licensing Committee; 008-004-000
  4/10/2025HouseHouse Floor Amendment No. 2 Adopted
  4/10/2025HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/10/2025HouseChair Rules placed on Standard Debate
  4/10/2025HouseThird Reading - Short Debate - Passed 074-037-001
  4/10/2025HouseHouse Floor Amendment No. 1 Tabled
  4/10/2025HouseMotion Filed to Reconsider Vote Rep. John M. Cabello
  4/10/2025HouseAdded Co-Sponsor Rep. Amy Briel
  4/10/2025HouseMotion to Reconsider Vote - Lost 038-073-000
  4/10/2025HouseAdded Co-Sponsor Rep. Hoan Huynh
  4/14/2025SenateArrive in Senate
  4/14/2025SenatePlaced on Calendar Order of First Reading
  4/14/2025SenateChief Senate Sponsor Sen. Don Harmon
  4/14/2025SenateFirst Reading
  4/14/2025SenateReferred to Assignments
  4/29/2025SenateAssigned to Executive
  4/29/2025SenateAlternate Chief Sponsor Changed to Sen. Mark L. Walker
  5/9/2025SenateRule 2-10 Committee Deadline Established As May 23, 2025

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