(765 ILCS 1026/15-806)

(Text of Section before amendment by P.A. 104-116)

Sec. 15-806. Escheat of certain abandoned State agency moneys. Property presumed abandoned where the administrator reasonably believes the owner is a State agency as defined in the Illinois State Auditing Act, shall escheat to the State and shall be deposited into the General Revenue Fund if all of the following apply:

(1) the administrator has provided written notice to the State agency pursuant to subsection (c) of Section 15-504 at least 3 times in at least 3 different calendar years;

(2) it has been more than 3 years since the administrator first provided written notice to the State agency pursuant to subsection (c) of Section 15-504; and

(3) the State agency has not initiated a claim or otherwise expressed an indication of interest in the property.

(Source: P.A. 103-148, eff. 6-30-23.)

(Text of Section after amendment by P.A. 104-116)

Sec. 15-806. Escheat of certain abandoned State agency moneys. Property presumed abandoned where the administrator reasonably believes the owner is a State agency as defined in the Illinois State Auditing Act, shall escheat to the State and shall be deposited into the General Revenue Fund if all of the following apply:

(1) the administrator has provided written notice to the State agency and the Governor's Office of Management and Budget pursuant to subsection (c) of Section 15-504;

(2) it has been more than 1 year since the administrator first provided written notice to the State agency pursuant to subsection (c) of Section 15-504;

(3) the State agency has not initiated a claim or otherwise expressed an indication of interest in the property; and

(4) the administrator provides written notice of the escheat to the Director of the Governor's Office of Management and Budget.

(Source: P.A. 103-148, eff. 6-30-23; 104-116, eff. 1-1-26.)