HB3233 - FIN-DONATIONS TO IL DREAM FUND

4 Co-Sponsors

Inserts the provisions of Senate Amendment No. 1 with the following changes. In provisions in the Higher Education Student Assistance Act regarding the Illinois DREAM Fund Commission developing a comprehensive program for education, provides that the Commission shall develop specific marketing materials for the voluntary use by persons licensed pursuant to the Transmitters of Money Act. In provisions in the Transmitters of Money Act regarding donations, provides that licensees may (rather than shall) offer customers the option to make a voluntary donation to the Illinois DREAM Fund before completing the transaction. Removes a provision that licensees shall be responsible for ensuring that authorized sellers comply with certain provisions. Removes a provision that, beginning January 1, 2024, certain provisions apply to international money transmissions initiated by customers at a licensee’s or authorized seller’s physical location. Removes a provision that, beginning January 1, 2025, certain provisions apply to international money transmissions that are initiated online or in any other manner. Adds a provision that the Department shall provide to licensees electronic copies of all marketing materials created by the Commission for licensees pursuant to a certain provision in the Higher Education Student Assistance Act. Effective immediately (rather than effective January 1, 2024).