IL HB2677 | 2019-2020 | 101st General Assembly

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 14 2019 - 25% progression, died in committee
Action: 2019-04-12 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Revised Uniform Unclaimed Property Act. 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 administrator to provide a telephone number to contact the administrator to inquire about or claim property. 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 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. Effective immediately.

Tracking Information

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Title

UNCLAIMED PROPERTY-VARIOUS

Sponsors


History

DateChamberAction
2019-04-12HouseRule 19(a) / Re-referred to Rules Committee
2019-04-10HouseHeld on Calendar Order of Second Reading - Short Debate
2019-04-10HouseSecond Reading - Short Debate
2019-03-29HousePlaced on Calendar 2nd Reading - Short Debate
2019-03-28HouseDo Pass / Short Debate Revenue & Finance Committee; 015-000-000
2019-03-28HouseReported Back To Revenue & Finance Committee;
2019-03-28HouseRecommends Do Pass Subcommittee/ Revenue & Finance Committee; 006-000-000
2019-03-06HouseTo Property Tax Subcommittee
2019-02-26HouseAssigned to Revenue & Finance Committee
2019-02-14HouseReferred to Rules Committee
2019-02-14HouseFirst Reading
2019-02-14HouseFiled with the Clerk by Rep. Michael J. Zalewski

Code Citations

ChapterArticleSectionCitation TypeStatute Text
765102615-1002.1Amended CodeCitation Text
765102615-1004Amended CodeCitation Text
765102615-1401Amended CodeCitation Text
765102615-1402Amended CodeCitation Text
765102615-201Amended CodeCitation Text
765102615-210Amended CodeCitation Text
765102615-503Amended CodeCitation Text
765102615-603Amended CodeCitation Text

Illinois State Sources


Bill Comments

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