Full Text of HB2224 103rd General Assembly
HB2224enr 103RD GENERAL ASSEMBLY |
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| 1 | | AN ACT concerning civil law.
| 2 | | Be it enacted by the People of the State of Illinois,
| 3 | | represented in the General Assembly:
| 4 | | Section 10. The Property Tax Code is amended by changing | 5 | | Section 20-175 as follows:
| 6 | | (35 ILCS 200/20-175)
| 7 | | Sec. 20-175. Refund for erroneous assessments or | 8 | | overpayments. | 9 | | (a) In counties other than Cook County, if any
property is | 10 | | twice assessed for the same year, or assessed before it | 11 | | becomes
taxable, and the erroneously assessed taxes have been | 12 | | paid either at sale or
otherwise, or have been overpaid by the | 13 | | same claimant or by different
claimants, the County Collector, | 14 | | upon being satisfied of the facts in the case,
shall refund the | 15 | | taxes to the proper claimant. When the County Collector is
| 16 | | unable to determine the proper claimant, the circuit court, on | 17 | | petition of the
person paying the taxes, or his or her agent, | 18 | | and being satisfied of the facts
in the case, shall direct the | 19 | | county collector to refund the taxes and deduct
the amount | 20 | | thereof, pro rata, from the moneys due to taxing bodies which
| 21 | | received the taxes erroneously paid, or their legal | 22 | | successors. Pleadings
in connection with the petition provided | 23 | | for in this Section shall conform
to that prescribed in the |
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| 1 | | Civil Practice Law. Appeals may be taken from the
judgment of | 2 | | the circuit court, either by the county collector or by the
| 3 | | petitioner, as in other civil cases. A claim for refund shall | 4 | | not be allowed
unless a petition is filed within 5 years from | 5 | | the date the right to a refund
arose. If a certificate of error | 6 | | results in the allowance of a homestead
exemption not | 7 | | previously allowed, the county collector shall pay the | 8 | | taxpayer
interest on the amount of taxes paid that are | 9 | | attributable to the amount of the
additional allowance, at the | 10 | | rate of 6% per year. To cover the cost of
interest, the county | 11 | | collector shall proportionately reduce the distribution of
| 12 | | taxes collected for each taxing district in which the property | 13 | | is situated. Any sum of money payable under this subsection | 14 | | which remains unclaimed for 3 years after the amount was | 15 | | payable shall be presumed to be abandoned and subject to | 16 | | disposition under the Revised Uniform Unclaimed Property Act.
| 17 | | (a-1) In Cook County, if any property is twice assessed | 18 | | for the same year, or assessed before it becomes taxable, and | 19 | | the erroneously assessed taxes have been paid either at sale | 20 | | or otherwise, or have been overpaid by the same claimant or by | 21 | | different claimants, the Cook County Treasurer, upon being | 22 | | satisfied of the facts in the case, shall refund the taxes to | 23 | | the proper claimant. When the Cook County Treasurer is unable | 24 | | to determine the proper claimant, the circuit court, on | 25 | | petition of the person paying the taxes, or his or her agent, | 26 | | and being satisfied of the facts in the case, shall direct the |
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| 1 | | Cook County Treasurer to refund the taxes plus costs of suit | 2 | | and deduct the amount thereof, pro rata, from the moneys due to | 3 | | taxing bodies which received the taxes erroneously paid, or | 4 | | their legal successors. Pleadings in connection with the | 5 | | petition provided for in this Section shall conform to that | 6 | | prescribed in the Civil Practice Law. Appeals may be taken | 7 | | from the judgment of the circuit court, either by the Cook | 8 | | County Treasurer or by the petitioner, as in other civil | 9 | | cases. A claim for refund shall not be allowed unless a | 10 | | petition is filed within 20 years from the date the right to a | 11 | | refund arose. The total amount of taxes and interest refunded | 12 | | for claims under this subsection for which the right to a | 13 | | refund arose prior to January 1, 2009 shall not exceed | 14 | | $5,000,000 per year. If the payment of a claim for a refund | 15 | | would cause the aggregate total of taxes and interest for all | 16 | | claims to exceed $5,000,000 in any year, the refund shall be | 17 | | paid in the next succeeding year. If a certificate of error | 18 | | results in the allowance of a homestead exemption not | 19 | | previously allowed, the Cook County Treasurer shall pay the | 20 | | taxpayer interest on the amount of taxes paid that are | 21 | | attributable to the amount of the additional allowance, at the | 22 | | rate of 6% per year. To cover the cost of interest, the Cook | 23 | | County Treasurer shall proportionately reduce the distribution | 24 | | of taxes collected for each taxing district in which the | 25 | | property is situated. Any sum of money payable under this | 26 | | subsection which remains unclaimed for 3 years after the |
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| 1 | | amount was payable shall be presumed to be abandoned and | 2 | | subject to disposition under the Revised Uniform Unclaimed | 3 | | Property Act. | 4 | | (b) Notwithstanding any other provision of law, in Cook | 5 | | County a claim for refund under this Section is also allowed if | 6 | | the application therefor is filed between September 1, 2011 | 7 | | and September 1, 2012 and the right to a refund arose more than | 8 | | 5 years prior to the date the application is filed but not | 9 | | earlier than January 1, 2000. The Cook County Treasurer, upon | 10 | | being satisfied of the facts in the case, shall refund the | 11 | | taxes to the proper claimant and shall proportionately reduce | 12 | | the distribution of taxes collected for each taxing district | 13 | | in which the property is situated. Refunds under this | 14 | | subsection shall be paid in the order in which the claims are | 15 | | received. The Cook County Treasurer shall not accept a claim | 16 | | for refund under this subsection before September 1, 2011. For | 17 | | the purposes of this subsection, the Cook County Treasurer | 18 | | shall accept a claim for refund by mail or in person. In no | 19 | | event shall a refund be paid under this subsection if the | 20 | | issuance of that refund would cause the aggregate total of | 21 | | taxes and interest refunded for all claims under this | 22 | | subsection to exceed $350,000. The Cook County Treasurer shall | 23 | | notify the public of the provisions of this subsection on the | 24 | | Treasurer's website. A home rule unit may not regulate claims | 25 | | for refunds in a
manner that is inconsistent with this Act. | 26 | | This Section is a limitation of
home
rule powers under |
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| 1 | | subsection (i) of Section 6 of Article VII of the Illinois
| 2 | | Constitution. | 3 | | (Source: P.A. 100-1104, eff. 8-27-18.)
| 4 | | Section 20. The Probate Act of 1975 is amended by changing | 5 | | Section 24-20 as follows:
| 6 | | (755 ILCS 5/24-20) (from Ch. 110 1/2, par. 24-20)
| 7 | | Sec. 24-20. Deposit of unclaimed money. Before July 1, | 8 | | 2024, when When the receipt of a
ward, a distributee of an | 9 | | estate, or a claimant
cannot be obtained for money or any other | 10 | | asset of the estate, the
representative by leave of court may | 11 | | sell the asset and deposit the net
proceeds together with any | 12 | | other money of the estate belonging to the ward,
distributee, | 13 | | or claimant with the county treasurer of the county in which | 14 | | the
estate is being administered. The representative shall | 15 | | notify the county
treasurer in writing of the identity of the | 16 | | persons entitled
thereto and, if known, their last known post | 17 | | office address. The
county treasurer shall give the | 18 | | representative a receipt
therefor which shall be filed in the | 19 | | court. The person entitled to the
money so deposited may | 20 | | obtain it, plus interest at a rate equal to
the average | 21 | | interest rate on 3 month United States Treasury Bills issued | 22 | | during
the time the money was on deposit, upon application to | 23 | | the court and
satisfactory proof of his right thereto. | 24 | | On or after July 1, 2024, when the receipt of a ward, a |
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| 1 | | distributee of an estate, or a claimant cannot be found, the | 2 | | representative shall report and remit the share of the missing | 3 | | person to the State Treasurer for disposition under the | 4 | | Revised Uniform Unclaimed Property Act.
| 5 | | (Source: P.A. 88-46.)
| 6 | | Section 25. The Revised Uniform Unclaimed Property Act is | 7 | | amended by changing Sections 15-201, 15-202, 15-210, 15-504, | 8 | | and 15-804 and by adding Sections 15-805 and 15-806 as | 9 | | follows: | 10 | | (765 ILCS 1026/15-201) | 11 | | Sec. 15-201. When property presumed abandoned. Subject to | 12 | | Section 15-210, the following property is presumed abandoned | 13 | | if it is unclaimed by the apparent owner during the period | 14 | | specified below: | 15 | | (1) a traveler's check, 15 years after issuance; | 16 | | (2) a money order, 5 years after issuance; | 17 | | (3) any instrument on which a financial organization | 18 | | or business association is directly liable, other than a | 19 | | money order, 3 years after issuance; | 20 | | (4) a state or municipal bond, bearer bond, or | 21 | | original-issue-discount bond, 3 years after the earliest | 22 | | of the date the bond matures or is called or the obligation | 23 | | to pay the principal of the bond arises; | 24 | | (5) a debt of a business association, 3 years after |
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| 1 | | the obligation to pay arises; | 2 | | (6) financial organization deposits as follows: | 3 | | (i) a demand deposit, 3 years after the date of the | 4 | | last indication of interest in the property by the | 5 | | apparent owner; | 6 | | (ii) a savings deposit, 3 years after the date of | 7 | | last indication of interest in the property by the | 8 | | apparent owner; | 9 | | (iii) a time deposit for which the owner has not | 10 | | consented to automatic renewal of the time deposit, 3 | 11 | | years after the later of maturity or the date of the | 12 | | last indication of interest in the property by the | 13 | | apparent owner; | 14 | | (iv) an automatically renewable time deposit for | 15 | | which the owner consented to the automatic renewal in | 16 | | a record on file with the holder, 3 years after the | 17 | | date of last indication of interest in the property by | 18 | | the apparent owner, following the completion of the | 19 | | initial term of the time deposit and one automatic | 20 | | renewal term of the time deposit; | 21 | | (6.5) virtual currency, 5 years after the last | 22 | | indication of interest in the property; | 23 | | (7) money or a credit owed to a customer as a result of | 24 | | a retail business transaction, other than in-store credit | 25 | | for returned merchandise, 3 years after the obligation | 26 | | arose; |
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| 1 | | (8) an amount owed by an insurance company on a life or | 2 | | endowment insurance policy or an annuity contract that has | 3 | | matured or terminated, 3 years after the obligation to pay | 4 | | arose under the terms of the policy or contract or, if a | 5 | | policy or contract for which an amount is owed on proof of | 6 | | death has not matured by proof of the death of the insured | 7 | | or annuitant, as follows: | 8 | | (A) with respect to an amount owed on a life or | 9 | | endowment insurance policy, the earlier of: | 10 | | (i) 3 years after the death of the insured; or | 11 | | (ii) 2 years after the insured has attained, | 12 | | or would have attained if living, the limiting age | 13 | | under the mortality table on which the reserve for | 14 | | the policy is based; and | 15 | | (B) with respect to an amount owed on an annuity | 16 | | contract, 3 years after the death of the annuitant. | 17 | | (9) funds on deposit or held in trust pursuant to the | 18 | | Illinois Funeral or Burial Funds Act, the earliest of: | 19 | | (A) 2 years after the date of death of the | 20 | | beneficiary; | 21 | | (B) one year after the date the beneficiary has | 22 | | attained, or would have attained if living, the age of | 23 | | 105 where the holder does not know whether the | 24 | | beneficiary is deceased; | 25 | | (C) 40 years after the contract for prepayment was | 26 | | executed, unless the apparent owner has indicated an |
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| 1 | | interest in the property more than 40 years after the | 2 | | contract for prepayment was executed, in which case, 3 | 3 | | years after the last indication of interest in the | 4 | | property by the apparent owner; | 5 | | (10) property distributable by a business association | 6 | | in the course of dissolution or distributions from the | 7 | | termination of a retirement plan, one year after the | 8 | | property becomes distributable; | 9 | | (11) property held by a court, including property | 10 | | received as proceeds of a class action, 3 years after the | 11 | | property becomes distributable; | 12 | | (12) property held by a government or governmental | 13 | | subdivision, agency, or instrumentality, including | 14 | | municipal bond interest and unredeemed principal under the | 15 | | administration of a paying agent or indenture trustee, 3 | 16 | | years after the property becomes distributable; | 17 | | (12.5) amounts payable pursuant to Section 20-175 of | 18 | | the Property Tax Code, 3 years after the property becomes | 19 | | payable; | 20 | | (13) wages, commissions, bonuses, or reimbursements to | 21 | | which an employee is entitled, or other compensation for | 22 | | personal services, including amounts held on a payroll | 23 | | card, one year after the amount becomes payable; | 24 | | (14) a deposit or refund owed to a subscriber by a | 25 | | utility, one year after the deposit or refund becomes | 26 | | payable, except that any capital credits or patronage |
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| 1 | | capital retired, returned, refunded or tendered to a | 2 | | member of an electric cooperative, as defined in Section | 3 | | 3.4 of the Electric Supplier Act, or a telephone or | 4 | | telecommunications cooperative, as defined in Section | 5 | | 13-212 of the Public Utilities Act, that has remained | 6 | | unclaimed by the person appearing on the records of the | 7 | | entitled cooperative for more than 2 years, shall not be | 8 | | subject to, or governed by, any other provisions of this | 9 | | Act, but rather shall be used by the cooperative for the | 10 | | benefit of the general membership of the cooperative; and | 11 | | (15) property not specified in this Section or | 12 | | Sections 15-202 through 15-208, the earlier of 3 years | 13 | | after the owner first has a right to demand the property or | 14 | | the obligation to pay or distribute the property arises. | 15 | | Notwithstanding anything to the contrary in this Section | 16 | | 15-201, and subject to Section 15-210, a deceased owner cannot | 17 | | indicate interest in his or her property. If the owner is | 18 | | deceased and the abandonment period for the owner's property | 19 | | specified in this Section 15-201 is greater than 2 years, then | 20 | | the property, other than an amount owed by an insurance | 21 | | company on a life or endowment insurance policy or an annuity | 22 | | contract that has matured or terminated, shall instead be | 23 | | presumed abandoned 2 years from the date of the owner's last | 24 | | indication of interest in the property.
| 25 | | (Source: P.A. 101-552, eff. 1-1-20; 102-288, eff. 8-6-21.) |
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| 1 | | (765 ILCS 1026/15-202)
| 2 | | Sec. 15-202. When tax-deferred and tax-exempt retirement | 3 | | accounts presumed abandoned. | 4 | | (a) Subject to Section 15-210, property held in a pension | 5 | | account or retirement account that qualifies for tax deferral | 6 | | or tax exemption under the income-tax laws of the United | 7 | | States is presumed abandoned if it is unclaimed by the | 8 | | apparent owner after the later of: | 9 | | (1) 3 years after the following dates: | 10 | | (A) except as in subparagraph (B), the date a | 11 | | communication sent by the holder by first-class United | 12 | | States mail to the apparent owner is returned to the | 13 | | holder undelivered by the United States Postal | 14 | | Service; or | 15 | | (B) if such communication is re-sent within 30 | 16 | | days after the date the first communication is | 17 | | returned undelivered, the date the second | 18 | | communication was returned undelivered by the United | 19 | | States Postal Service; or | 20 | | (2) the earlier of the following dates: | 21 | | (A) 3 years after the date the apparent owner | 22 | | becomes 73 72 years of age, if determinable by the | 23 | | holder; or | 24 | | (B) one year after the date of mandatory | 25 | | distribution following death if the Internal Revenue | 26 | | Code requires distribution to avoid a tax penalty and |
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| 1 | | the holder: | 2 | | (i) receives confirmation of the death of the | 3 | | apparent owner in the ordinary course of its | 4 | | business; or | 5 | | (ii) confirms the death of the apparent owner | 6 | | under subsection (b). | 7 | | (b) If a holder in the ordinary course of its business | 8 | | receives notice or an indication of the death of an apparent | 9 | | owner and subsection (a)(2) applies, the holder shall attempt | 10 | | not later than 90 days after receipt of the notice or | 11 | | indication to confirm whether the apparent owner is deceased. | 12 | | (c) If the holder does not send communications to the | 13 | | apparent owner of an account described in subsection (a) by | 14 | | first-class United States mail on at least an annual basis, | 15 | | the holder shall attempt to confirm the apparent owner's | 16 | | interest in the property by sending the apparent owner an | 17 | | electronic-mail communication not later than 2 years after the | 18 | | apparent owner's last indication of interest in the property. | 19 | | However, the holder promptly shall attempt to contact the | 20 | | apparent owner by first-class United States mail if: | 21 | | (1) the holder does not have information needed to | 22 | | send the apparent owner an electronic mail communication | 23 | | or the holder believes that the apparent owner's | 24 | | electronic mail address in the holder's records is not | 25 | | valid; | 26 | | (2) the holder receives notification that the |
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| 1 | | electronic-mail communication was not received; or | 2 | | (3) the apparent owner does not respond to the | 3 | | electronic-mail communication within 30 days after the | 4 | | communication was sent. | 5 | | (d) If first-class United States mail sent under | 6 | | subsection (c) is returned to the holder undelivered by the | 7 | | United States Postal Service, the property is presumed | 8 | | abandoned 3 years after the later of: | 9 | | (1) except as in paragraph (2), the date a | 10 | | communication to contact the apparent owner sent by | 11 | | first-class United States mail is returned to the holder | 12 | | undelivered; | 13 | | (2) if such communication is re-sent within 30 days | 14 | | after the date the first communication is returned | 15 | | undelivered, the date the second communication was | 16 | | returned undelivered; or | 17 | | (3) the date established by subsection (a)(2).
| 18 | | (Source: P.A. 102-288, eff. 8-6-21.) | 19 | | (765 ILCS 1026/15-210) | 20 | | Sec. 15-210. Indication of apparent owner interest in | 21 | | property. | 22 | | (a) The period after which property is presumed abandoned | 23 | | is measured from the later of: | 24 | | (1) the date the property is presumed abandoned under | 25 | | this Article; or |
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| 1 | | (2) the latest indication of interest by the apparent | 2 | | owner in the property. | 3 | | (b) Under this Act, an indication of an apparent owner's | 4 | | interest in property includes: | 5 | | (1) a record communicated by the apparent owner to the | 6 | | holder or agent of the holder concerning the property or | 7 | | the account in which the property is held; | 8 | | (2) an oral communication by the apparent owner to the | 9 | | holder or agent of the holder concerning the property or | 10 | | the account in which the property is held, if the holder or | 11 | | its agent contemporaneously makes and preserves a record | 12 | | of the fact of the apparent owner's communication; | 13 | | (3) presentment of a check or other instrument of | 14 | | payment of a dividend, interest payment, or other | 15 | | distribution , or evidence of receipt of a distribution | 16 | | made by electronic or similar means, with respect to an | 17 | | account, underlying security, or interest in a business | 18 | | association; | 19 | | (4) activity directed by an apparent owner in the | 20 | | account in which the property is held, including accessing | 21 | | the account or information concerning the account, or a | 22 | | direction by the apparent owner to increase, decrease, or | 23 | | otherwise change the amount or type of property held in | 24 | | the account; | 25 | | (5) a deposit into or withdrawal from an account at a | 26 | | financial organization, except for a recurring Automated |
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| 1 | | Clearing House (ACH) debit or credit previously authorized | 2 | | by the apparent owner or an automatic reinvestment of | 3 | | dividends or interest; and | 4 | | (6) subject to subsection (e), payment of a premium on | 5 | | an insurance policy. | 6 | | (c) An action by an agent or other representative of an | 7 | | apparent owner, other than the holder acting as the apparent | 8 | | owner's agent, is presumed to be an action on behalf of the | 9 | | apparent owner. | 10 | | (d) A communication with an apparent owner by a person | 11 | | other than the holder or the holder's representative is not an | 12 | | indication of interest in the property by the apparent owner | 13 | | unless a record of the communication evidences the apparent | 14 | | owner's knowledge of a right to the property. | 15 | | (e) If the insured dies or the insured or beneficiary of an | 16 | | insurance policy otherwise becomes entitled to the proceeds | 17 | | before depletion of the cash surrender value of the policy by | 18 | | operation of an automatic-premium-loan provision or other | 19 | | nonforfeiture provision contained in the policy, the operation | 20 | | does not prevent the policy from maturing or terminating. | 21 | | (f) If the apparent owner has another property with the | 22 | | holder to which Section 201(6) applies, then activity directed | 23 | | by an apparent owner in any other accounts, including loan | 24 | | accounts, at a financial organization holding an inactive | 25 | | account of the apparent owner shall be an indication of | 26 | | interest in all such accounts if:
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| 1 | | (A) the apparent owner engages in one or more of the | 2 | | following activities:
| 3 | | (i) the apparent owner undertakes one or more of | 4 | | the actions described in subsection (b) of this | 5 | | Section regarding any of the other accounts the | 6 | | apparent owner has with the financial organization;
| 7 | | (ii) the apparent owner increases or decreases the | 8 | | amount of funds in any other account the apparent | 9 | | owner has with the financial organization; or
| 10 | | (iii) the apparent owner engages in any other | 11 | | relationship with the financial organization, | 12 | | including payment of any amounts due on a loan; and
| 13 | | (B) the foregoing apply so long as the mailing address | 14 | | for the apparent owner in the financial organization's | 15 | | books and records is the same for both the inactive | 16 | | account and the active account. | 17 | | (g) For an amount held on a payroll card, an indication of | 18 | | owner interest includes wages from an employer pursuant to | 19 | | Section 14.5 of the Illinois Wage Payment and Collection Act | 20 | | in the form of a recurring ACH credit previously authorized by | 21 | | the apparent owner; however, an ACH credit is not an | 22 | | indication of owner interest if the holder assesses fees for | 23 | | account inactivity on the payroll card account.
| 24 | | (Source: P.A. 102-288, eff. 8-6-21; 102-734, eff. 1-1-23 .) | 25 | | (765 ILCS 1026/15-504)
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| 1 | | Sec. 15-504. Cooperation among State officers and agencies | 2 | | to locate apparent owner. | 3 | | (a) Unless prohibited by law of this State other than this | 4 | | Act, on request of the administrator, each officer, agency, | 5 | | board, commission, division, and department of this State, any | 6 | | body politic and corporate created by this State for a public | 7 | | purpose, and each political subdivision of this State shall | 8 | | make its books and records available to the administrator and | 9 | | cooperate with the administrator to determine the current | 10 | | address of an apparent owner of property held by the | 11 | | administrator under this Act or to otherwise assist the | 12 | | administrator in the administration of this Act. The | 13 | | administrator may also enter into data sharing agreements to | 14 | | enable such other governmental agencies to provide an | 15 | | additional notice to apparent owners of property held by the | 16 | | administrator. | 17 | | (b) If the administrator reasonably believes that the | 18 | | apparent owner of property presumed abandoned held by the | 19 | | administrator under this Act is a unit of local government in | 20 | | this State which files an audit report or annual financial | 21 | | report with the Comptroller, the administrator may give | 22 | | written notice to the person or persons identified in the most | 23 | | recent annual financial report as the contact person, the | 24 | | chief executive officer, and the chief financial officer. | 25 | | (c) If the administrator reasonably believes that the | 26 | | apparent owner of property presumed abandoned held by the |
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| 1 | | administrator under this Act is a State agency as defined in | 2 | | the Illinois State Auditing Act, the administrator may give | 3 | | written notice to the person whom the records of the | 4 | | Comptroller indicate are the chief executive officer and chief | 5 | | fiscal officer of such State agency.
| 6 | | (Source: P.A. 100-22, eff. 1-1-18 .) | 7 | | (765 ILCS 1026/15-804)
| 8 | | Sec. 15-804. Administrator holds property as custodian for | 9 | | owner. Upon the payment or delivery of abandoned property to | 10 | | the administrator, the State shall assume custody and shall be | 11 | | responsible for the safekeeping thereof in perpetuity unless | 12 | | otherwise claimed for the benefit of the owner or the owner's | 13 | | successors in interest .
| 14 | | (Source: P.A. 100-22, eff. 1-1-18 .) | 15 | | (765 ILCS 1026/15-805 new) | 16 | | Sec. 15-805. Escheat of certain abandoned local government | 17 | | moneys. Property presumed abandoned where the administrator | 18 | | reasonably believes the owner is a unit of local government in | 19 | | this State shall escheat to the State and shall be deposited | 20 | | into the General Revenue Fund if all of the following apply: | 21 | | (1) the administrator has provided written notice to | 22 | | the unit of local government pursuant to subsection (b) of | 23 | | Section 15-504 at least 3 times in at least 3 different | 24 | | calendar years; |
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| 1 | | (2) it has been more than 5 years since the | 2 | | administrator first provided written notice to the unit of | 3 | | local government pursuant to subsection (b) of Section | 4 | | 15-504; | 5 | | (3) the administrator has published a notice on the | 6 | | administrator's website for at least one year of the value | 7 | | of the property, the name of the unit of local government, | 8 | | and that such presumed abandoned property is subject to | 9 | | escheat; and | 10 | | (4) the unit of local government has not initiated a | 11 | | claim or otherwise expressed an indication of interest in | 12 | | the property. | 13 | | (765 ILCS 1026/15-806 new) | 14 | | Sec. 15-806. Escheat of certain abandoned State agency | 15 | | moneys. Property presumed abandoned where the administrator | 16 | | reasonably believes the owner is a State agency as defined in | 17 | | the Illinois State Auditing Act, shall escheat to the State | 18 | | and shall be deposited into the General Revenue Fund if all of | 19 | | the following apply: | 20 | | (1) the administrator has provided written notice to | 21 | | the State agency pursuant to subsection (c) of Section | 22 | | 15-504 at least 3 times in at least 3 different calendar | 23 | | years; | 24 | | (2) it has been more than 3 years since the | 25 | | administrator first provided written notice to the State |
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| 1 | | agency pursuant to subsection (c) of Section 15-504; and | 2 | | (3) the State agency has not initiated a claim or | 3 | | otherwise expressed an indication of interest in the | 4 | | property.
| 5 | | Section 99. Effective date. This Act takes effect upon | 6 | | becoming law.
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INDEX
| 2 | |
Statutes amended in order of appearance
| | 3 | | 15 ILCS 405/10.10 | from Ch. 15, par. 210.10 | | 4 | | 35 ILCS 200/20-175 | | | 5 | | 50 ILCS 310/4.5 | | | 6 | | 755 ILCS 5/24-20 | from Ch. 110 1/2, par. 24-20 | | 7 | | 765 ILCS 1026/15-201 | | | 8 | | 765 ILCS 1026/15-202 | | | 9 | | 765 ILCS 1026/15-210 | | | 10 | | 765 ILCS 1026/15-504 | | | 11 | | 765 ILCS 1026/15-804 | | | 12 | | 765 ILCS 1026/15-805 new | | | 13 | | 765 ILCS 1026/15-806 new | |
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