HB4533 allows money transmitters in Illinois to offer customers a voluntary donation option to the Illinois DREAM Fund during international money.
HB4533 amends the Uniform Money Transmission Modernization Act to permit licensees to present customers with a voluntary donation option to the Illinois DREAM Fund before completing international money transfers. The minimum donation amount is set at $1 per transaction. The Department of Financial and Professional Regulation is required to provide licensees with electronic copies of all marketing materials created by the Illinois DREAM Fund Commission. Licensees cannot use, deduct, or retain any amounts from donations, except for actual costs imposed by third-party payment processors.
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