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HB0417 • 2026

Financial Institutions, Dept. of

AN ACT to amend Tennessee Code Annotated, Title 38; Title 45 and Title 67, Chapter 6, relative to money transmission.

Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor
Sherrell, Bailey
Last action
2025-03-12
Official status
Assigned to s/c Banking & Consumer Affairs Subcommittee
Effective date
Not listed

Plain English Breakdown

The exact impact on license holders is not detailed in the provided source material.

Changing Money Transmission License Renewal Dates

This bill changes the deadline for paying an annual fee and submitting yearly reports by money transmission license holders in Tennessee from November 1st to October 15th.

What This Bill Does

  • Changes the deadline for paying an annual nonrefundable supervision fee from November 1st to October 15th.
  • Moves up the date by which licensees need to submit their yearly renewal report to October 15th.

Who It Names or Affects

  • Money transmission license holders in Tennessee

Terms To Know

licensee
A person or company that has a permit to do certain activities, like handling money transfers, under state rules.

Limits and Unknowns

  • The bill does not specify the consequences for missing the new deadlines.
  • It is unclear how many license holders will be affected by this change.
  • This bill has not yet been signed into law and needs more steps before it becomes official.

Bill History

  1. 2025-03-18 Tennessee General Assembly

    Assigned to General Subcommittee of Senate Commerce and Labor Committee

  2. 2025-03-13 Tennessee General Assembly

    Placed on Senate Commerce and Labor Committee calendar for 3/18/2025

  3. 2025-03-12 Tennessee General Assembly

    Assigned to s/c Banking & Consumer Affairs Subcommittee

  4. 2025-03-12 Tennessee General Assembly

    Ref. to Commerce Committee - Government Operations for Review

  5. 2025-03-11 Tennessee General Assembly

    Placed on Senate Commerce and Labor Committee calendar for 3/18/2025

  6. 2025-02-12 Tennessee General Assembly

    Passed on Second Consideration, refer to Senate Commerce and Labor Committee

  7. 2025-02-10 Tennessee General Assembly

    Introduced, Passed on First Consideration

  8. 2025-02-05 Tennessee General Assembly

    P2C, caption bill, held on desk - pending amdt.

  9. 2025-02-03 Tennessee General Assembly

    Intro., P1C.

  10. 2025-01-28 Tennessee General Assembly

    Filed for introduction

  11. 2025-01-28 Tennessee General Assembly

    Filed for introduction

Official Summary Text

Abstract summarizes the bill.

Current Bill Text

Read the full stored bill text 
SENATE BILL 410
By Bailey

HOUSE BILL 417
By Sherrell

HB0417
002216
- 1 -

AN ACT to amend Tennessee Code Annotated, Title 38;
Title 45 and Title 67, Chapter 6, relative to money
transmission.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Section 45-7-116(a)(2), is amended by
deleting "November 1" and substituting "October 15".
SECTION 2. Tennessee Code Annotated, Section 45-7-116(b), is amended by deleting
"November 1" and substituting "October 15".
SECTION 3. This act takes effect upon becoming a law, the public welfare requiring it.