IL HB5143 | 2023-2024 | 103rd General Assembly
Status
Completed Legislative Action
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: Failed on January 7 2025 - 100% progression
Action: 2025-01-07 - Session Sine Die
Text: Latest bill text (Engrossed) [HTML]
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: Failed on January 7 2025 - 100% progression
Action: 2025-01-07 - Session Sine Die
Text: Latest bill text (Engrossed) [HTML]
Summary
Amends the State Officials and Employees Money Disposition Act. Provides that examiners of unclaimed property that is reported and remitted to the State Treasurer and custodians contracted by the State of Illinois to hold presumptively abandoned securities or virtual currency may deduct fees prior to remittance. Amends the Revised Uniform Unclaimed Property Act. Changes the definition of property presumed to be abandoned to a corporate bond (rather than a state or municipal bond). Provides that the address of the owner of other property where ownership vests in a beneficiary upon the death of the owner is presumed to be the address of the deceased owner if the address of the beneficiary is not known by the holder and cannot be determined otherwise. Requires the administrator to publish notice twice every year (rather than once every 6 months). Provides that, if a holder cannot liquidate virtual currency and cannot otherwise cause virtual currency to be liquidated, the holder shall promptly notify the administrator in writing and explain the reasons why the virtual currency cannot be liquidated. Allows the administrator to direct the holder to either (1) transfer the virtual currency that cannot be liquidated to a custodian selected by the administrator or (2) continue to hold the virtual currency until the administrator or the holder determines that the virtual currency can be liquidated or there is an indication of apparent owner interest. Provides that a provision regarding void agreements does not apply to an apparent owner's agreement with a CPA firm or with an affiliate of such firm under certain conditions. Makes other changes.
Title
FINANCE-RUUPA
Sponsors
Roll Calls
2024-04-16 - House - Third Reading in House (Y: 110 N: 0 NV: 1 Abs: 1) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2025-01-07 | House | Session Sine Die |
| 2024-04-17 | Senate | Referred to Assignments |
| 2024-04-17 | Senate | First Reading |
| 2024-04-17 | Senate | Chief Senate Sponsor Sen. Robert F. Martwick |
| 2024-04-17 | Senate | Placed on Calendar Order of First Reading |
| 2024-04-17 | Senate | Arrive in Senate |
| 2024-04-16 | House | Third Reading - Short Debate - Passed 110-000-000 |
| 2024-04-12 | House | Added Co-Sponsor Rep. Amy Elik |
| 2024-04-12 | House | Placed on Calendar Order of 3rd Reading - Short Debate |
| 2024-04-12 | House | House Floor Amendment No. 2 Adopted |
| 2024-04-12 | House | Second Reading - Short Debate |
| 2024-04-10 | House | Added Co-Sponsor Rep. Mark L. Walker |
| 2024-04-02 | House | House Floor Amendment No. 2 Recommends Be Adopted Financial Institutions and Licensing Committee; 012-000-000 |
| 2024-04-02 | House | House Floor Amendment No. 2 Rules Refers to Financial Institutions and Licensing Committee |
| 2024-03-27 | House | House Floor Amendment No. 2 Referred to Rules Committee |
| 2024-03-27 | House | House Floor Amendment No. 2 Filed with Clerk by Rep. Marcus C. Evans, Jr. |
| 2024-03-13 | House | Placed on Calendar 2nd Reading - Short Debate |
| 2024-03-12 | House | House Committee Amendment No. 1 Tabled |
| 2024-03-12 | House | Do Pass / Short Debate Financial Institutions and Licensing Committee; 012-000-000 |
| 2024-03-11 | House | House Committee Amendment No. 1 Referred to Rules Committee |
| 2024-03-11 | House | House Committee Amendment No. 1 Filed with Clerk by Rep. Marcus C. Evans, Jr. |
| 2024-03-05 | House | Assigned to Financial Institutions and Licensing Committee |
| 2024-02-09 | House | Referred to Rules Committee |
| 2024-02-09 | House | First Reading |
| 2024-02-08 | House | Filed with the Clerk by Rep. Marcus C. Evans, Jr. |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 30 | 230 | 2 | Amended Code | Citation Text |
| 765 | 1026 | 15-1302 | Amended Code | Citation Text |
| 765 | 1026 | 15-201 | Amended Code | Citation Text |
| 765 | 1026 | 15-301 | Amended Code | Citation Text |
| 765 | 1026 | 15-501 | Amended Code | Citation Text |
| 765 | 1026 | 15-503 | Amended Code | Citation Text |
| 765 | 1026 | 15-603 | Amended Code | Citation Text |
| 765 | 1026 | 15-903 | Amended Code | Citation Text |
| 765 | 1026 | 15-906 | Amended Code | Citation Text |
