CS/SB 486 (2022) -  Money Services Businesses

General Bill by Appropriations and Brodeur
Money Services Businesses: Revising exceptions to general laws and rules for licensees during the Financial Technology Sandbox period; defining the term “virtual currency”; revising the purpose of the Florida Control of Money Laundering in Money Services Business Act; revising criminal and civil penalties for certain violations relating to unlicensed activity involving money services businesses and deferred presentment providers; requiring money transmitters that receive virtual currency for specified purposes to hold a certain type and amount of virtual currency until the transmission obligation is completed, etc.
Effective Date: 01/01/2023
Last Event: 03/07/22 S Laid on Table, companion bill(s) passed, see CS/HB 273 (Ch. 2022-113) -SJ 719 on Monday, March 7, 2022 7:52 PM

Referred Committees and Committee Actions

Senate Referrals

  • Banking and Insurance
    • On agenda for: 01/12/22 9:30 AM
    • Favorable (final action) Votes: Yeas 11   Nays 0
  • Appropriations Subcommittee on Agriculture, Environment, and General Government
    • On agenda for: 01/26/22 3:30 PM
    • Recommendation: Favorable With Committee Substitute (final action) Votes: Yeas 10   Nays 0
  • Appropriations
    • On agenda for: 02/09/22 9:00 AM
    • Favorable With Committee Substitute (final action) Votes: Yeas 17   Nays 0

Related Bills

Bill # Subject Relationship
Bill #: CS/HB 273 Subject: Money Services Businesses Relationship: Similar

Bill Text

  • Committee Substitute 1
  • Original Filed Version
    • P 975382 , Appropriations Date Filed: 01/28/22, Line#: 0 Senate(c): Replaced by Committee Substitute 02/09/2022 03:32 PM
    • A 635244 , Appropriations Subcommittee on Agriculture, Environment, and General Government, Brodeur Date Filed: 01/25/22, Line#: 135 Senate(c): Replaced by Committee Substitute 01/26/2022 05:01 PM

Staff Analysis

Chamber Committee
Chamber: Senate Committee: Appropriations 2/11/2022 4:23:42 PM
Chamber: Senate Committee: Appropriations 2/8/2022 10:13:32 AM
Chamber: Senate Committee: Appropriations 2/8/2022 10:07:59 AM
Chamber: Senate Committee: Appropriations Subcommittee on Agriculture, Environment, and General Government 1/28/2022 5:00:01 PM
Chamber: Senate Committee: Appropriations Subcommittee on Agriculture, Environment, and General Government 1/25/2022 3:39:54 PM
Chamber: Senate Committee: Banking and Insurance 1/12/2022 5:58:56 PM
Chamber: Senate Committee: Banking and Insurance 1/10/2022 5:23:34 PM

Vote History

(No Votes Recorded)

Bill History

Event Time Member Committee Ver.
Event: S Laid on Table, companion bill(s) passed, see CS/HB 273 (Ch. 2022-113) -SJ 719 Time: 03/07/2022 - 7:52 PM Member: Committee: Version: c1
Event: S Substituted CS/HB 273 -SJ 719 Time: 03/07/2022 - 7:52 PM Member: Committee: Version: c1
Event: S Read 2nd time -SJ 719 Time: 03/07/2022 - 7:51 PM Member: Committee: Version: c1
Event: S Retained on Special Order Calendar -SJ 689 Time: 03/04/2022 - 8:29 PM Member: Committee: Version: c1
Event: S Retained on Special Order Calendar Time: 03/03/2022 - 11:04 PM Member: Committee: Version: c1
Event: S Placed on Special Order Calendar, 03/03/22 -SJ 591 Time: 03/01/2022 - 9:25 PM Member: Committee: Version: c1
Event: S CS by Appropriations read 1st time -SJ 376 Time: 02/16/2022 - 8:58 PM Member: Committee: Appropriations Version: c1
Event: S Placed on Calendar, on 2nd reading Time: 02/14/2022 - 9:22 AM Member: Committee: Version: c1
Event: S Pending reference review -under Rule 4.7(2) - (Committee Substitute) Time: 02/14/2022 - 8:37 AM Member: Committee: Appropriations Version: c1
Event: S CS by- Appropriations; YEAS 17 NAYS 0 -SJ 370 Time: 02/09/2022 - 5:44 PM Member: Committee: Appropriations Version: __
Event: S On Committee agenda-- Appropriations, 02/09/22, 9:00 am, 412 Knott Building Time: 02/04/2022 - 2:27 PM Member: Committee: Appropriations Version: __
Event: S Now in Appropriations Time: 01/28/2022 - 4:59 PM Member: Committee: Appropriations Version: __
Event: S Subcommittee Recommendation: CS by Appropriations Subcommittee on Agriculture, Environment, and General Government; YEAS 10 NAYS 0 -SJ 244 Time: 01/26/2022 - 4:47 PM Member: Committee: Appropriations Subcommittee on Agriculture, Environment, and General Government Version: __
Event: S On Committee agenda-- Appropriations Subcommittee on Agriculture, Environment, and General Government, 01/26/22, 3:30 pm, 110 Senate Building Time: 01/21/2022 - 3:15 PM Member: Committee: Appropriations Subcommittee on Agriculture, Environment, and General Government Version: __
Event: S Now in Appropriations Subcommittee on Agriculture, Environment, and General Government Time: 01/12/2022 - 6:04 PM Member: Committee: Appropriations Subcommittee on Agriculture, Environment, and General Government Version: __
Event: S Favorable by Banking and Insurance; YEAS 11 NAYS 0 -SJ 114 Time: 01/12/2022 - 10:51 AM Member: Committee: Banking and Insurance Version: __
Event: S Introduced -SJ 28 Time: 01/11/2022 - 11:01 AM Member: Committee: Version: __
Event: S On Committee agenda-- Banking and Insurance, 01/12/22, 9:30 am, 412 Knott Building Time: 01/07/2022 - 2:19 PM Member: Committee: Banking and Insurance Version: __
Event: S Referred to Banking and Insurance; Appropriations Subcommittee on Agriculture, Environment, and General Government; Appropriations -SJ 28 Time: 10/21/2021 - 8:32 AM Member: Committee: Banking and Insurance Version: __
Event: S Filed Time: 10/13/2021 - 2:40 PM Member: Committee: Version: __

Statutes Referenced by this Bill

Statute Other Bill Citations
559.952 CS/HB 123, CS/HB 273, CS/CS/HB 389, CS/CS/HB 431*, SB 546, CS/CS/SB 1536
560.103 CS/HB 273, CS/CS/HB 389, CS/CS/HB 431*, CS/CS/SB 1536
560.123 CS/HB 273, CS/CS/HB 389, CS/CS/SB 1536
560.125 CS/HB 273
560.204 CS/HB 273
560.208 CS/HB 273, CS/CS/HB 431*
560.2085 CS/HB 273
560.210 CS/HB 273
560.211 CS/HB 273
560.212 CS/HB 273

(*) Not the latest version