IL HB2825 | 2019-2020 | 101st General Assembly

Status

Spectrum: Bipartisan Bill
Status: Introduced on February 14 2019 - 25% progression, died in committee
Action: 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Creates the Regulatory Sandbox Act. Creates the regulatory sandbox to enable persons to obtain limited access to the Illinois marketplace in order to test innovations in financial products or services. Provides requirements for approval to enter the regulatory sandbox, the application fee, and approval or denial time. Provides requirements for operating an innovation in the regulatory sandbox and extending a test period. Contains provisions regarding rules and judicial review of the administration of this Act. Makes conforming changes in the State Finance Act. Effective immediately.

Tracking Information

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Title

REGULATORY SANDBOX ACT

Sponsors


History

DateChamberAction
2020-06-23HouseRule 19(b) / Re-referred to Rules Committee
2020-03-03HouseAssigned to Executive Committee
2019-03-29HouseRule 19(a) / Re-referred to Rules Committee
2019-02-26HouseAssigned to Executive Committee
2019-02-19HouseAdded Co-Sponsor Rep. Mark Batinick
2019-02-14HouseReferred to Rules Committee
2019-02-14HouseFirst Reading
2019-02-14HouseFiled with the Clerk by Rep. Michael J. Zalewski

Code Citations

ChapterArticleSectionCitation TypeStatute Text
301056z-26Amended CodeCitation Text

Illinois State Sources


Bill Comments

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