HB25-1201
Model Money Transmission Modernization Act
| Type | Bill |
|---|---|
| Session | 2025 Regular Session |
| Subjects |
Concerning implementing a model act to modernize money transmission.
Bill Summary:
The act repeals the current "Money Transmitters Act" and replaces it with the model "Money Transmission Modernization Act" (MTMA). The act adopts the MTMA in part. The act updates outdated or inconsistent regulations relating to money transmitters and money transmission services, including:
- Clarifying the definition of "control" of a licensee and introducing a rebuttable presumption of control;
- Enabling Colorado's participation in multistate licensing initiatives;
- Codifying the agent-to-payee exemption to licensure;
- Revising prudential standards required for licensing and ongoing monitoring, such as tangible net worth and permissible investment calculations;
- Establishing an irrevocable, standby letter of credit as a permissible investment; and
- Expanding the enforcement actions available in case of nonperformance by a money transmitter.
(Note: This summary applies to this bill as enacted.)
Related Documents & Information
| Activity | Vote | Documents |
|---|---|---|
| Refer House Bill 25-1201 to the Committee of the Whole and with a recommendation that it be placed on the consent calendar. | The motion passed on a vote of 9-0. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Adopt amendment L.001 (Attachment G). | The motion passed without objection. | Vote summary |
| Adopt amendment L.002 (Attachment H). | The motion passed without objection. | Vote summary |
| Adopt amendment L.003 (Attachment I). | The motion passed without objection. | Vote summary |
| Refer House Bill 25-1201, as amended, to the Committee of the Whole. | The motion passed on a vote of 13-0. | Vote summary |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 03/24/2025 | Third Reading | BILL |
33
AYE
0
NO
2
OTHER
|
Vote record |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 03/07/2025 | Third Reading | BILL |
63
AYE
1
NO
1
OTHER
|
Vote record |
| Date | Location | Action |
|---|---|---|
| 04/18/2025 | Governor | Governor Signed |
| 04/08/2025 | Governor | Sent to the Governor |
| 04/08/2025 | Senate | Signed by the President of the Senate |
| 04/07/2025 | House | Signed by the Speaker of the House |
| 03/24/2025 | Senate | Senate Third Reading Passed - No Amendments |
| 03/21/2025 | Senate | Senate Second Reading Passed - No Amendments |
| 03/18/2025 | Senate | Senate Committee on Finance Refer Unamended - Consent Calendar to Senate Committee of the Whole |
| 03/12/2025 | Senate | Introduced In Senate - Assigned to Finance |
| 03/07/2025 | House | House Third Reading Passed - No Amendments |
| 03/06/2025 | House | House Third Reading Laid Over Daily - No Amendments |
| 03/05/2025 | House | House Second Reading Special Order - Passed with Amendments - Committee |
| 03/03/2025 | House | House Committee on Finance Refer Amended to House Committee of the Whole |
| 02/10/2025 | House | Introduced In House - Assigned to Finance |
Prime Sponsor
Sponsor
(None)
Co-Sponsor
| Effective Date | Chapter # | Title | Documents |
|---|---|---|---|
| 08/06/2025 | 91 | Model Money Transmission Modernization Act |