IL HB4813 | 2019-2020 | 101st General Assembly
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 11 2020 - 25% progression, died in committee
Action: 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 11 2020 - 25% progression, died in committee
Action: 2020-06-23 - Rule 19(b) / 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.
Title
UNCLAIMED PROPERTY-VARIOUS
Sponsors
History
Date | Chamber | Action |
---|---|---|
2020-06-23 | House | Rule 19(b) / Re-referred to Rules Committee |
2020-03-12 | House | Assigned to Revenue & Finance Committee |
2020-02-18 | House | Referred to Rules Committee |
2020-02-18 | House | First Reading |
2020-02-11 | House | Filed with the Clerk by Rep. Michael J. Zalewski |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
765 | 1026 | 15-1002.1 | Amended Code | Citation Text |
765 | 1026 | 15-1004 | Amended Code | Citation Text |
765 | 1026 | 15-1401 | Amended Code | Citation Text |
765 | 1026 | 15-1402 | Amended Code | Citation Text |
765 | 1026 | 15-201 | Amended Code | Citation Text |
765 | 1026 | 15-210 | Amended Code | Citation Text |
765 | 1026 | 15-503 | Amended Code | Citation Text |
765 | 1026 | 15-603 | Amended Code | Citation Text |
Illinois State Sources
Type | Source |
---|---|
Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4813&GAID=15&DocTypeID=HB&SessionID=108&GA=101 |
Text | https://www.ilga.gov/legislation/101/HB/10100HB4813.htm |