SB3415 - 104th General Assembly (2025-2026)

RUUPA OVERPAYMENTS
Last Action
3/05/2026 - Senate: Placed on Calendar Order of 2nd Reading March 10, 2026
Statutes Amended In Order of Appearance
765 ILCS 1026/15-102  
Synopsis As Introduced
Amends the Revised Uniform Unclaimed Property Act. Includes within the definition of "property" any overpayment made by any person to a government, governmental subdivision, agency, or instrumentality, including, but not limited to, a payment for any tax, license, or fee that was made in excess of the amount ultimately required of the payor. Provides that the changes made by the amendatory Act is a restatement and clarification of existing law. Effective immediately.

Senate Committee Amendment No. 1
Replaces everything after the enacting clause with the provisions of the introduced bill with the following changes. Defines an "asset purchaser" to mean a business association that is a business association or group of business associations that:(1) generates $100 million or more in annual gross receipts or sales; (2) employs 100 or more full-time employees in the United States; or (3) has equity securities publicly traded on an exchange regulated by the federal Securities and Exchange Commission. Exempts asset purchase agreements involving the assets of a business association arising out of a bankruptcy proceeding under Title 11 of the United States Code or corporate dissolution or similar proceeding under applicable State law such as receiverships and assignments for the benefit of creditors. Provides that claims filed by an asset purchaser under the Act must include: (1) a complete and unredacted copy of the asset purchase agreement or similar contract between the asset purchaser and the seller; and (2) an attestation by the seller in the asset purchase agreement or in a separate written affirmation from the owner that the owner meets one or more of the above characteristics that qualify it as a large business association and is aware that it is selling unclaimed property that may be recovered from the administrator without paying a fee. Effective immediately.
Actions
DateChamberAction
2/04/2026SenateFiled with Secretary by Sen. Robert F. Martwick
2/04/2026SenateFirst Reading
2/04/2026SenateReferred to Assignments
2/17/2026SenateAssigned to Judiciary
2/25/2026SenatePostponed - Judiciary
2/26/2026SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Robert F. Martwick
2/26/2026SenateSenate Committee Amendment No. 1 Referred to Assignments
3/03/2026SenateSenate Committee Amendment No. 1 Assignments Refers to Judiciary
3/04/2026SenateSenate Committee Amendment No. 1 Adopted
3/05/2026SenateDo Pass as Amended Judiciary; 009-000-000
3/05/2026SenatePlaced on Calendar Order of 2nd Reading March 10, 2026