Illinois General Assembly - Bill Status for SB1887
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 Bill Status of SB1887  103rd General Assembly


Senate Sponsors
Sen. Robert Peters

Last Action
DateChamber Action
  2/9/2023SenateReferred to Assignments

Statutes Amended In Order of Appearance
New Act

Synopsis As Introduced
Creates the Digital Property Protection and Law Enforcement Act. Provides that upon a valid request from the Attorney General or a State's Attorney, made pursuant to the substantive or procedural laws of the State, a court may order any appropriate blockchain transaction for digital property or for the execution of a smart contract. Provides that a blockchain network that processes a blockchain transaction originating in the State at any time after the effective date of the Act shall process a court-ordered blockchain transaction without the need for the private key associated with the digital property or smart contract. Provides that upon a petition by the Attorney General or a State's Attorney, the court shall assess a civil penalty of between $5,000 and $10,000 for each day that the blockchain network fails to comply with the order. Sets forth provisions concerning protection of digital property and contract rights, security interests, and service of process. Defines terms. Effective 30 days after becoming law.

DateChamber Action
  2/9/2023SenateFiled with Secretary by Sen. Robert Peters
  2/9/2023SenateFirst Reading
  2/9/2023SenateReferred to Assignments

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