CS/HB 273: Money Services Businesses
GENERAL BILL by Insurance and Banking Subcommittee ; Aloupis ; (CO-INTRODUCERS) Benjamin ; Buchanan ; McFarland
Money Services Businesses; Revises provisions related to violations of money services business activities & penalties for such violations; revises provisions related to certain prohibited activities without license; revises requirements for money transmitter or payment instrument seller to conduct business; revises requirements for written contract between money transmitter or payment instrument seller & authorized vendor; provides requirements for money transmitter that receives virtual currency; excludes virtual currency in calculation of permissible investments; revises recordkeeping requirements for money transmitter or payment instrument seller; revises financial liability requirements for money transmitter or payment instrument seller.
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Bill History
Date Chamber Action 10/12/2021 House • Filed
10/22/2021 House • Referred to Insurance & Banking Subcommittee
• Referred to State Administration & Technology Appropriations Subcommittee
• Referred to Commerce Committee
• Now in Insurance & Banking Subcommittee
11/23/2021 House • Added to Insurance & Banking Subcommittee agenda
12/1/2021 House • Favorable with CS by Insurance & Banking Subcommittee
12/2/2021 House • Reported out of Insurance & Banking Subcommittee
• Laid on Table under Rule 7.18(a)
• CS Filed
12/3/2021 House • Original reference removed: State Administration & Technology Appropriations Subcommittee
• Referred to Commerce Committee
• Now in Commerce Committee
1/11/2022 House • 1st Reading (Original Filed Version)
• 1st Reading (Committee Substitute 1)
1/14/2022 House • Added to Commerce Committee agenda
1/19/2022 House • Favorable by Commerce Committee
• Reported out of Commerce Committee
• Bill released to House Calendar
• Added to Second Reading Calendar
3/1/2022 House • Bill added to Special Order Calendar (3/4/2022)
3/4/2022 House • Read 2nd time
• Amendment 941613 adopted
• Placed on 3rd reading
• Added to Third Reading Calendar
3/7/2022 House • Read 3rd time
• CS passed as amended; YEAS 112, NAYS 0
3/7/2022 Senate • In Messages
• Referred to Appropriations -SJ 720
• Withdrawn from Appropriations -SJ 719
• Placed on Calendar, on 2nd reading
• Received -SJ 720
• Substituted for CS/SB 486 -SJ 719
• Read 2nd time -SJ 719
• Read 3rd time -SJ 719
• CS passed; YEAS 35 NAYS 1 -SJ 719
3/8/2022 House • In Messages
• Ordered enrolled
5/10/2022 • Signed by Officers and presented to Governor
5/12/2022 • Approved by Governor
• Chapter No. 2022-113
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CS/HB 273, Enrolled (Current Bill Version) Posted 3/8/2022 at 8:07 AM
Bill Text: PDF Analyses: None Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 486 (c1) Money Services Businesses Brodeur Similar Last Action: 3/7/2022 S Laid on Table, companion bill(s) passed, see CS/HB 273 (Ch. 2022-113) -SJ 719 
Citations - Statutes (10)
Citation Catchline Location in Bill Location In Bill Help 559.952 Financial Technology Sandbox. Page 2 (pdf) 560.103 Definitions. Page 4 (pdf) 560.123 Florida Control of Money Laundering in Money Services Business Act. Page 6 (pdf) 560.125 Unlicensed activity; penalties. Page 9 (pdf) 560.204 License required. Page 11 (pdf) 560.208 Conduct of business. Page 11 (pdf) 560.2085 Authorized vendors. Page 12 (pdf) 560.210 Permissible investments. Page 13 (pdf) 560.211 Required records. Page 14 (pdf) 560.212 Financial liability. Page 15 (pdf) -
CS/HB 273, Engrossed 1 Posted 3/4/2022 at 5:46 PM
Bill Text: PDF Analyses: None Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 486 (c1) Money Services Businesses Brodeur Similar Last Action: 3/7/2022 S Laid on Table, companion bill(s) passed, see CS/HB 273 (Ch. 2022-113) -SJ 719
Floor Votes (2)
Date Chamber Result 3/7/2022 11:16 AM House 112 Yeas - 0 Nays 3/7/2022 7:52 PM Senate 35 Yeas - 1 Nays Citations - Statutes (10)
Citation Catchline Location in Bill Location In Bill Help 559.952 Financial Technology Sandbox. Page 2 (pdf) 560.103 Definitions. Page 4 (pdf) 560.123 Florida Control of Money Laundering in Money Services Business Act. Page 6 (pdf) 560.125 Unlicensed activity; penalties. Page 9 (pdf) 560.204 License required. Page 11 (pdf) 560.208 Conduct of business. Page 11 (pdf) 560.2085 Authorized vendors. Page 12 (pdf) 560.210 Permissible investments. Page 13 (pdf) 560.211 Required records. Page 14 (pdf) 560.212 Financial liability. Page 15 (pdf) -
CS/HB 273, Committee Substitute 1 Posted 12/2/2021 at 5:14 PM
Bill Text: PDF Analyses: Commerce Committee (Post-Meeting) 1/19/2022 (pdf)
Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 486 (c1) Money Services Businesses Brodeur Similar Last Action: 3/7/2022 S Laid on Table, companion bill(s) passed, see CS/HB 273 (Ch. 2022-113) -SJ 719
Floor Amendments (1)
Amendment Sponsor Filed Last Floor Action Format 941613 - Amendment
Remove lines 133-136 and insert:Aloupis 1/27/2022
10:39 AMHouse: Adopted
3/4/2022PDF Citations - Statutes (10)
Citation Catchline Location in Bill Location In Bill Help 559.952 Financial Technology Sandbox. Page 2 (pdf) 560.103 Definitions. Page 4 (pdf) 560.123 Florida Control of Money Laundering in Money Services Business Act. Page 6 (pdf) 560.125 Unlicensed activity; penalties. Page 9 (pdf) 560.204 License required. Page 11 (pdf) 560.208 Conduct of business. Page 11 (pdf) 560.2085 Authorized vendors. Page 12 (pdf) 560.210 Permissible investments. Page 13 (pdf) 560.211 Required records. Page 14 (pdf) 560.212 Financial liability. Page 15 (pdf) -
HB 273, Original Filed Version Posted 10/12/2021 at 4:25 PM
Bill Text: PDF Analyses: Insurance and Banking Subcommittee (Post-Meeting) 5/13/2022 (pdf)
Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 486 Money Services Businesses Brodeur Similar Last Action: 3/7/2022 S Laid on Table, companion bill(s) passed, see CS/HB 273 (Ch. 2022-113) -SJ 719
Committee Amendments (1)
Amendment Sponsor Filed Last Committee Action Format 305601 - Amendment
Remove lines 139-141 and insert:Aloupis 11/30/2021
2:54 PMAdopted without Objection
12/1/2021PDF Citations - Statutes (10)
Citation Catchline Location in Bill Location In Bill Help 559.952 Financial Technology Sandbox. Page 2 (pdf) 560.103 Definitions. Page 4 (pdf) 560.123 Florida Control of Money Laundering in Money Services Business Act. Page 6 (pdf) 560.125 Unlicensed activity; penalties. Page 10 (pdf) 560.204 License required. Page 11 (pdf) 560.208 Conduct of business. Page 11 (pdf) 560.2085 Authorized vendors. Page 12 (pdf) 560.210 Permissible investments. Page 14 (pdf) 560.211 Required records. Page 14 (pdf) 560.212 Financial liability. Page 15 (pdf)