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]

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
2020-06-23HouseRule 19(b) / Re-referred to Rules Committee
2020-03-12HouseAssigned to Revenue & Finance Committee
2020-02-18HouseReferred to Rules Committee
2020-02-18HouseFirst Reading
2020-02-11HouseFiled 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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