Illinois General Assembly - Bill Status for SB0338
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 Bill Status of SB0338  102nd General Assembly


Short Description:  RUUPA-VARIOUS

Senate Sponsors
Sen. Rachelle Crowe

House Sponsors
(Rep. Michael J. Zalewski)

Last Action
DateChamber Action
  5/30/2021SenatePassed Both Houses

Statutes Amended In Order of Appearance
15 ILCS 505/0.02
15 ILCS 505/0.03
765 ILCS 1026/15-102
765 ILCS 1026/15-201
765 ILCS 1026/15-202
765 ILCS 1026/15-213
765 ILCS 1026/15-401
765 ILCS 1026/15-503
765 ILCS 1026/15-603
765 ILCS 1026/15-607
765 ILCS 1026/15-906
15 ILCS 505/0.04 rep.
15 ILCS 505/0.05 rep.


Synopsis As Introduced
Amends the State Treasurer Act. Repeals provisions regarding transfer of power; transfer of personnel; transfer of property; and rules and standards. Amends the Revised Uniform Unclaimed Property Act. Changes the definition of "virtual currency". Provides that a money order is presumed abandoned if it is unclaimed by the apparent owner 3 (rather than 7) years after issuance. Provides that virtual currency is presumed abandoned if it is unclaimed by the apparent owner 5 years after the last indication of interest in the property. Provides that a business association who has no reportable property shall so report to the administrator under specified circumstances. Provides that the administrator does not need to notify the Department of Revenue of the names or social security numbers of apparent owners of abandoned property if the administrator reasonably believes that the Department of Revenue will be unable to provide information that would provide sufficient evidence to establish that the person in the Department of Revenue's records is the apparent owner of unclaimed property in the custody of the administrator. Includes a provision regarding identification of apparent owners of abandoned property using other State databases. Provides that if property reported to the administrator is virtual currency, the holder shall liquidate the virtual currency and remit the proceeds to the administrator. Makes changes to provisions regarding: when tax-deferred and tax-exempt retirement accounts presumed abandoned; United States savings bonds; crediting income or gain to owner's account; and action by a person whose claim is denied.

Senate Committee Amendment No. 1
Adds reference to:
765 ILCS 1026/15-905

Provides that the Secretary of State may (rather than shall) provide the Treasurer with the last known address as it appears in its respective records of any person reasonably believed to be the apparent owner of abandoned property. Provides that any warrants issued by the Comptroller pursuant to a voucher from the Treasurer to pay an owner that are not presented to the Treasurer within 12 months of the date of issuance shall be void, but the funds shall not escheat to the State and shall instead be redeposited in the Unclaimed Property Trust Fund. Provides that the Treasurer shall be responsible for any tax reporting required by federal law related to payments under the Revised Uniform Unclaimed Property Act.

House Floor Amendment No. 3
Adds reference to:
765 ILCS 1026/15-210
765 ILCS 1026/15-1002.1
765 ILCS 1026/15-1004
765 ILCS 1026/15-1401
765 ILCS 1026/15-1402

Replaces everything after the enacting clause with the provisions of the engrossed bill, and makes the following changes: Further amends the Revised Uniform Unclaimed Property Act. Provides that a money order is presumed abandoned if it is unclaimed by the apparent owner 5 (rather than 3) years after issuance. Provides that any instrument on which a financial organization or business association is directly liable, other than a money order, is presumed abandoned if it is unclaimed by the apparent owner 3 years after issuance. Makes changes concerning the time and circumstances under which financial organization deposits are presumed abandoned. Makes changes in provisions governing extending the reporting date of certain reported renewable time deposits. Deletes language requiring a holder to inform the State Treasurer, as administrator, to provide a telephone number that persons may call to inquire about or claim property. Provides that the State Treasurer may, at reasonable times and upon reasonable notice: (1) examine the records of specified types of financial organizations under certain conditions; (2) issue an administrative subpoena requiring the financial organization to make records available for examination; and (3) bring an action seeking judicial enforcement of the subpoena. Provides that records obtained in examinations of State-regulated financial organizations are subject to the same provisions concerning use and confidentiality as records obtained in examinations of other persons. Makes other changes. Adds an immediate effective date.

House Floor Amendment No. 4
Provides that a time deposit for which the owner has not consented to automatic renewal of the time deposit is presumed abandoned 3 years after the later of maturity or the date of the last indication of interest in the property by the apparent owner (instead of "3 years after the date of last indication of interest in the property by the apparent owner").

Actions 
DateChamber Action
  2/19/2021SenateFiled with Secretary by Sen. Rachelle Crowe
  2/19/2021SenateFirst Reading
  2/19/2021SenateReferred to Assignments
  3/3/2021SenateAssigned to Judiciary
  3/16/2021SenatePostponed - Judiciary
  3/23/2021SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Rachelle Crowe
  3/23/2021SenateSenate Committee Amendment No. 1 Referred to Assignments
  3/25/2021SenateSenate Committee Amendment No. 1 Assignments Refers to Judiciary
  4/13/2021SenateSenate Committee Amendment No. 1 Adopted
  4/14/2021SenateDo Pass as Amended Judiciary; 005-002-000
  4/14/2021SenatePlaced on Calendar Order of 2nd Reading April 15, 2021
  4/20/2021SenateSecond Reading
  4/20/2021SenatePlaced on Calendar Order of 3rd Reading April 21, 2021
  4/21/2021SenateThird Reading - Passed; 041-018-000
  4/22/2021HouseArrived in House
  4/22/2021HouseChief House Sponsor Rep. Michael J. Zalewski
  4/23/2021HouseFirst Reading
  4/23/2021HouseReferred to Rules Committee
  4/28/2021HouseAssigned to Revenue & Finance Committee
  5/11/2021HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Michael J. Zalewski
  5/11/2021HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  5/13/2021HouseHouse Committee Amendment No. 1 Rules Refers to Revenue & Finance Committee
  5/13/2021HouseDo Pass / Short Debate Revenue & Finance Committee; 011-006-000
  5/13/2021HousePlaced on Calendar 2nd Reading - Short Debate
  5/13/2021HouseHouse Committee Amendment No. 1 Tabled Pursuant to Rule 40
  5/14/2021HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Michael J. Zalewski
  5/14/2021HouseHouse Floor Amendment No. 2 Referred to Rules Committee
  5/18/2021HouseHouse Floor Amendment No. 2 Rules Refers to Revenue & Finance Committee
  5/20/2021HouseHouse Floor Amendment No. 3 Filed with Clerk by Rep. Michael J. Zalewski
  5/20/2021HouseHouse Floor Amendment No. 3 Referred to Rules Committee
  5/24/2021HouseHouse Floor Amendment No. 3 Rules Refers to Revenue & Finance Committee
  5/25/2021HouseHouse Floor Amendment No. 3 Recommends Be Adopted Revenue & Finance Committee; 010-007-000
  5/25/2021HouseHouse Floor Amendment No. 4 Filed with Clerk by Rep. Michael J. Zalewski
  5/25/2021HouseHouse Floor Amendment No. 4 Referred to Rules Committee
  5/26/2021HouseHouse Floor Amendment No. 4 Recommends Be Adopted Rules Committee; 004-000-000
  5/26/2021HouseSecond Reading - Short Debate
  5/26/2021HouseHouse Floor Amendment No. 3 Adopted
  5/26/2021HouseHouse Floor Amendment No. 4 Adopted
  5/26/2021HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/27/2021HouseThird Reading - Short Debate - Passed 073-043-000
  5/27/2021HouseHouse Floor Amendment No. 2 Tabled Pursuant to Rule 40
  5/27/2021SenateSecretary's Desk - Concurrence House Amendment(s) 3, 4
  5/27/2021SenatePlaced on Calendar Order of Concurrence House Amendment(s) 3, 4 - May 28, 2021
  5/29/2021SenateHouse Floor Amendment No. 3 Motion to Concur Filed with Secretary Sen. Rachelle Crowe
  5/29/2021SenateHouse Floor Amendment No. 3 Motion to Concur Referred to Assignments
  5/29/2021SenateHouse Floor Amendment No. 4 Motion to Concur Filed with Secretary Sen. Rachelle Crowe
  5/29/2021SenateHouse Floor Amendment No. 4 Motion to Concur Referred to Assignments
  5/30/2021SenateHouse Floor Amendment No. 3 Motion to Concur Assignments Referred to Judiciary
  5/30/2021SenateHouse Floor Amendment No. 4 Motion to Concur Assignments Referred to Judiciary
  5/30/2021SenateHouse Floor Amendment No. 3 Motion To Concur Recommended Do Adopt Judiciary; 005-002-000
  5/30/2021SenateHouse Floor Amendment No. 4 Motion To Concur Recommended Do Adopt Judiciary; 005-002-000
  5/30/2021SenateHouse Floor Amendment No. 3 Senate Concurs 042-017-000
  5/30/2021SenateHouse Floor Amendment No. 4 Senate Concurs 042-017-000
  5/30/2021SenateSenate Concurs
  5/30/2021SenatePassed Both Houses

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