Illinois General Assembly - Bill Status for SB1313
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 Bill Status of SB1313  101st General Assembly


Short Description:  UNCLAIMED PROPERTY-VARIOUS

Senate Sponsors
Sen. Cristina Castro

Last Action
DateChamber Action
  1/13/2021SenateSession Sine Die

Statutes Amended In Order of Appearance
765 ILCS 1026/15-201
765 ILCS 1026/15-210
765 ILCS 1026/15-503
765 ILCS 1026/15-603
765 ILCS 1026/15-1002
765 ILCS 1026/15-1002.1
765 ILCS 1026/15-1004
765 ILCS 1026/15-1401
765 ILCS 1026/15-1402


Synopsis As Introduced
Amends the Revised Uniform Unclaimed Property Act. Makes changes concerning the time and circumstances under which financial organization deposits are presumed abandoned. Provides that compensation held on a payroll card is reportable one year after the date of the last indication of interest in the property by the apparent owner, except if the payroll card becomes a demand deposit, then 3 years after the date of the last indication of interest in the property by the apparent owner. 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 he or she 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. Provides that the State Treasurer shall examine a financial organization in compliance with the visitation standards established in the National Bank Act or the Federal Credit Union Act, if applicable. 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. Effective immediately.

Actions 
DateChamber Action
  2/7/2019SenateFiled with Secretary by Sen. Cristina Castro
  2/7/2019SenateFirst Reading
  2/7/2019SenateReferred to Assignments
  2/13/2019SenateAssigned to Financial Institutions
  2/20/2019SenatePostponed - Financial Institutions
  3/6/2019SenatePostponed - Financial Institutions
  3/13/2019SenatePostponed - Financial Institutions
  3/14/2019SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Cristina Castro
  3/14/2019SenateSenate Committee Amendment No. 1 Referred to Assignments
  3/19/2019SenateSenate Committee Amendment No. 1 Assignments Refers to Financial Institutions
  3/20/2019SenateSenate Committee Amendment No. 1 Postponed - Financial Institutions
  3/20/2019SenatePostponed - Financial Institutions
  3/22/2019SenateRule 2-10 Committee Deadline Established As March 28, 2019
  3/26/2019SenateSenate Committee Amendment No. 1 Postponed - Financial Institutions
  3/27/2019SenatePostponed - Financial Institutions
  3/28/2019SenateSenate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments
  3/28/2019SenateRule 3-9(a) / Re-referred to Assignments
  1/13/2021SenateSession Sine Die

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