Full Text of SB1313 101st General Assembly
SB1313sam001 101ST GENERAL ASSEMBLY | Sen. Cristina Castro Filed: 3/14/2019
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| 1 | | AMENDMENT TO SENATE BILL 1313
| 2 | | AMENDMENT NO. ______. Amend Senate Bill 1313 by replacing | 3 | | everything after the enacting clause with the following:
| 4 | | "Section 5. The Revised Uniform Unclaimed Property Act is | 5 | | amended by changing Sections 15-503, 15-1002.1, 15-1004, | 6 | | 15-1401, and 15-1402 as follows: | 7 | | (765 ILCS 1026/15-503)
| 8 | | Sec. 15-503. Notice by administrator. | 9 | | (a) The administrator shall give notice to an apparent | 10 | | owner that property presumed abandoned and appears to be owned | 11 | | by the apparent owner is held by the administrator under this | 12 | | Act. | 13 | | (b) In providing notice under subsection (a), the | 14 | | administrator shall: | 15 | | (1) except as otherwise provided in paragraph (2), send | 16 | | written notice by first-class United States mail to each |
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| 1 | | apparent owner of property valued at $100 or more held by | 2 | | the administrator, unless the administrator determines | 3 | | that a mailing by first-class United States mail would not | 4 | | be received by the apparent owner, and, in the case of a | 5 | | security held in an account for which the apparent owner | 6 | | had consented to receiving electronic mail from the holder, | 7 | | send notice by electronic mail if the electronic-mail | 8 | | address of the apparent owner is known to the administrator | 9 | | instead of by first-class United States mail; or | 10 | | (2) send the notice to the apparent owner's | 11 | | electronic-mail address if the administrator does not have | 12 | | a valid United States mail address for an apparent owner, | 13 | | but has an electronic-mail address that the administrator | 14 | | does not know to be invalid. | 15 | | (c) In addition to the notice under subsection (b), the | 16 | | administrator shall: | 17 | | (1) publish every 6 months in at least one English | 18 | | language newspaper of general circulation in each county in | 19 | | this State notice of property held by the administrator | 20 | | which must include: | 21 | | (A) the total value of property received by the | 22 | | administrator during the preceding 6-month period, | 23 | | taken from the reports under Section 15-401; | 24 | | (B) the total value of claims paid by the | 25 | | administrator during the preceding 6-month period; | 26 | | (C) the Internet web address of the unclaimed |
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| 1 | | property website maintained by the administrator; | 2 | | (D) an a telephone number and electronic-mail | 3 | | address to contact the administrator to inquire about | 4 | | or claim property; and | 5 | | (E) a statement that a person may access the | 6 | | Internet by a computer to search for unclaimed property | 7 | | and a computer may be available as a service to the | 8 | | public at a local public library. | 9 | | (2) The administrator shall maintain a website | 10 | | accessible by the public and electronically searchable | 11 | | which contains the names reported to the administrator of | 12 | | apparent owners for whom property is being held by the | 13 | | administrator. The administrator need not list property on | 14 | | such website when: no owner name was reported, a claim has | 15 | | been initiated or is pending for the property, the | 16 | | administrator has made direct contact with the apparent | 17 | | owner of the property, and in other instances where the | 18 | | administrator reasonably believes exclusion of the | 19 | | property is in the best interests of both the State and the | 20 | | owner of the property. | 21 | | (d) The website or database maintained under subsection | 22 | | (c)(2) must include instructions for filing with the | 23 | | administrator a claim to property and an online claim form with | 24 | | instructions. The website may also provide a printable claim | 25 | | form with instructions for its use. | 26 | | (e) Tax return identification of apparent owners of |
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| 1 | | abandoned property. | 2 | | (1) At least annually the administrator shall notify | 3 | | the Department of Revenue of the names of persons appearing | 4 | | to be owners of abandoned property under this Section. The | 5 | | administrator shall also provide to the Department of | 6 | | Revenue the social security numbers of the persons, if | 7 | | available. The administrator does not need to notify the | 8 | | Department of Revenue of the names or social security | 9 | | numbers of apparent owners of abandoned property if he or | 10 | | she reasonably believes that the Department of Revenue will | 11 | | be unable to provide information that would provide | 12 | | sufficient evidence to establish that the person in the | 13 | | Department of Revenue's records is the apparent owner of | 14 | | unclaimed property in the custody of the administrator. | 15 | | (2) The Department of Revenue shall notify the | 16 | | administrator if any person under subsection (e)(1) has | 17 | | filed an Illinois income tax return and shall provide the | 18 | | administrator with the last known address of the person as | 19 | | it appears in Department of Revenue records, except as | 20 | | prohibited by federal law. The Department of Revenue may | 21 | | also provide additional addresses for the same taxpayer | 22 | | from the records of the Department, except as prohibited by | 23 | | federal law. | 24 | | (3) In order to facilitate the return of property under | 25 | | this subsection, the administrator and the Department of | 26 | | Revenue may enter into an interagency agreement concerning |
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| 1 | | protection of confidential information, data match rules, | 2 | | and other issues. | 3 | | (4) The administrator may deliver, as provided under | 4 | | Section 15-904 of this Act, property or pay the amount | 5 | | owing to a person matched under this Section without the | 6 | | person filing a claim under Section 15-903 of this Act if | 7 | | the following conditions are met: | 8 | | (A) the value of the property that is owed the | 9 | | person is $2,000 or less; | 10 | | (B) the property is not either tangible property or | 11 | | securities; | 12 | | (C) the last known address for the person according | 13 | | to the Department of Revenue records is less than 12 | 14 | | months old; and | 15 | | (D) the administrator has evidence sufficient to | 16 | | establish that the person who appears in Department of | 17 | | Revenue records is the owner of the property and the | 18 | | owner currently resides at the last known address from | 19 | | the Department of Revenue. | 20 | | (5) If the value of the property that is owed the | 21 | | person is greater than $2,000, or is tangible property or | 22 | | securities the administrator shall provide notice to the | 23 | | person, informing the person that he or she is the owner of | 24 | | abandoned property held by the State and may file a claim | 25 | | with the administrator for return of the property. | 26 | | (f) The administrator may use additional databases to |
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| 1 | | verify the identity of the person and that the person currently | 2 | | resides at the last known address. The administrator may | 3 | | utilize publicly and commercially available databases to find | 4 | | and update or add information for apparent owners of property | 5 | | held by the administrator. | 6 | | (g) In addition to giving notice under subsection (b), | 7 | | publishing the information under subsection (c)(1) and | 8 | | maintaining the website or database under subsection (c)(2), | 9 | | the administrator may use other printed publication, | 10 | | telecommunication, the Internet, or other media to inform the | 11 | | public of the existence of unclaimed property held by the | 12 | | administrator.
| 13 | | (Source: P.A. 100-22, eff. 1-1-18; 100-566, eff. 1-1-18.) | 14 | | (765 ILCS 1026/15-1002.1)
| 15 | | Sec. 15-1002.1. Examination of State-regulated financial | 16 | | organizations. | 17 | | (a) Notwithstanding Section 15-1002 of this Act, for any | 18 | | financial organization for which the Department of Financial | 19 | | and Professional Regulation is the primary prudential | 20 | | regulator, the administrator shall not examine such financial | 21 | | institution unless the administrator has consulted with the | 22 | | Secretary of Financial and Professional Regulation and the | 23 | | Department of Financial and Professional Regulation has not | 24 | | examined such financial organization for compliance with this | 25 | | Act within the past 5 years. The Secretary of Financial and |
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| 1 | | Professional Regulation may waive in writing the provisions of | 2 | | this subsection (a) in order to permit the administrator to | 3 | | examine a financial organization or group of financial | 4 | | organizations for compliance with this Act. | 5 | | (b) Nothing in this Section shall be construed to prohibit | 6 | | the administrator from examining a financial organization for | 7 | | which the Department of Financial and Professional Regulation | 8 | | is not the primary prudential regulator. Further, nothing in is | 9 | | this Act shall be construed to limit the authority of the | 10 | | Department of Financial and Professional Regulation to examine | 11 | | financial organizations.
| 12 | | (Source: P.A. 100-22, eff. 1-1-18; 100-566, eff. 1-1-18; | 13 | | revised 10-4-18.) | 14 | | (765 ILCS 1026/15-1004)
| 15 | | Sec. 15-1004. Records obtained in examination. Records | 16 | | obtained and records, including work papers, compiled by the | 17 | | administrator or administrator's agent in the course of | 18 | | conducting an examination under Section 15-1002 or Section | 19 | | 15-1002.1 : | 20 | | (1) are subject to the confidentiality and security | 21 | | provisions of Article 14 and are exempt from disclosure | 22 | | under the Freedom of Information Act; | 23 | | (2) may be used by the administrator in an action to | 24 | | collect property or otherwise enforce this Act; | 25 | | (3) may be used in a joint examination conducted with |
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| 1 | | another state, the United States, a foreign country or | 2 | | subordinate unit of a foreign country, or any other | 3 | | governmental entity if the governmental entity conducting | 4 | | the examination is legally bound to maintain the | 5 | | confidentiality and security of information obtained from | 6 | | a person subject to examination in a manner substantially | 7 | | equivalent to Article 14; | 8 | | (4) may be disclosed, on request, to the person that | 9 | | administers the unclaimed property law of another state for | 10 | | that state's use in circumstances equivalent to | 11 | | circumstances described in this Article, if the other state | 12 | | is required to maintain the confidentiality and security of | 13 | | information obtained in a manner substantially equivalent | 14 | | to Article 14; | 15 | | (5) must be produced by the administrator under an | 16 | | administrative or judicial subpoena or administrative or | 17 | | court order; and | 18 | | (6) must be produced by the administrator on request of | 19 | | the person subject to the examination in an administrative | 20 | | or judicial proceeding relating to the property.
| 21 | | (Source: P.A. 100-22, eff. 1-1-18 .) | 22 | | (765 ILCS 1026/15-1401)
| 23 | | Sec. 15-1401. Confidential information. | 24 | | (a) Except as otherwise provided in this Section, | 25 | | information that is confidential under law of this State other |
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| 1 | | than this Act, another state, or the United States, including | 2 | | "private information" as defined in the Freedom of Information | 3 | | Act and "personal information" as defined in the Personal | 4 | | Information Protection Act, continues to be confidential when | 5 | | disclosed or delivered under this Act to the administrator or | 6 | | administrator's agent. | 7 | | (b) Information provided in reports filed pursuant to | 8 | | Section 15-401, information obtained in the course of an | 9 | | examination pursuant to Section 15-1002 or Section 15-1002.1 , | 10 | | and the database required by Section 15-503 is exempt from | 11 | | disclosure under the Freedom of Information Act. | 12 | | (c) If reasonably necessary to enforce or implement this | 13 | | Act, the administrator or the administrator's agent may | 14 | | disclose confidential information concerning property held by | 15 | | the administrator or the administrator's agent to: | 16 | | (1) an apparent owner or the apparent owner's | 17 | | representative under the Probate Act of 1975, attorney, | 18 | | other legal representative, or relative; | 19 | | (2) the representative under the Probate Act of 1975, | 20 | | other legal representative, relative of a deceased | 21 | | apparent owner, or a person entitled to inherit from the | 22 | | deceased apparent owner; | 23 | | (3) another department or agency of this State or the | 24 | | United States; | 25 | | (4) the person that administers the unclaimed property | 26 | | law of another state, if the other state accords |
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| 1 | | substantially reciprocal privileges to the administrator | 2 | | of this State if the other state is required to maintain | 3 | | the confidentiality and security of information obtained | 4 | | in a manner substantially equivalent to Article 14; | 5 | | (5) a person subject to an examination as required by | 6 | | Section 15-1004; and | 7 | | (6) an agent of the administrator. | 8 | | (d) The administrator may include on the website or in the | 9 | | database the names and addresses of apparent owners of property | 10 | | held by the administrator as provided in Section 15-503. The | 11 | | administrator may include in published notices, printed | 12 | | publications, telecommunications, the Internet, or other media | 13 | | and on the website or in the database additional information | 14 | | concerning the apparent owner's property if the administrator | 15 | | believes the information will assist in identifying and | 16 | | returning property to the owner and does not disclose personal | 17 | | information as defined in the Personal Information Protection | 18 | | Act. | 19 | | (e) The administrator and the administrator's agent may not | 20 | | use confidential information provided to them or in their | 21 | | possession except as expressly authorized by this Act or | 22 | | required by law other than this Act.
| 23 | | (Source: P.A. 100-22, eff. 1-1-18; 100-566, eff. 1-1-18.) | 24 | | (765 ILCS 1026/15-1402)
| 25 | | Sec. 15-1402. Confidentiality agreement. A person to be |
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| 1 | | examined under Section 15-1002 or Section 15-1002.1 may | 2 | | require, as a condition of disclosure of the records of the | 3 | | person to be examined, that the administrator or the | 4 | | administrator's agent execute and deliver to the person to be | 5 | | examined a confidentiality agreement that: | 6 | | (1) is in a form that is reasonably satisfactory to the | 7 | | administrator; and | 8 | | (2) requires the person having access to the records to | 9 | | comply with the provisions of this Article applicable to | 10 | | the person.
| 11 | | (Source: P.A. 100-22, eff. 1-1-18 .)
| 12 | | Section 99. Effective date. This Act takes effect upon | 13 | | becoming law.".
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