IL SB3343 | 2023-2024 | 103rd General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 3-0)
Status: Passed on August 9 2024 - 100% progression
Action: 2024-08-09 - Public Act . . . . . . . . . 103-0977
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Partisan Bill (Democrat 3-0)
Status: Passed on August 9 2024 - 100% progression
Action: 2024-08-09 - Public Act . . . . . . . . . 103-0977
Text: Latest bill text (Chaptered) [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 in accordance with the Revised Uniform Unclaimed Property Act. Amends the Revised Uniform Unclaimed Property Act. Provides that a corporate bond (rather than a state or municipal bond) is presumed abandoned 3 years after the earliest of the date the bond matures or is called or the obligation to pay the principal of the bond arises. Requires a holder who cannot liquidate virtual currency and cannot otherwise cause virtual currency to be liquidated to promptly notify the administrator in writing. 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. Requires compliance with the Act before exercising exclusive judicial remedy. Requires any appeal from the administrator's decision to be taken under the provisions of the Administrative Review Law. Provides that provisions governing void agreements does not apply to an apparent owner's agreement with specified CPA firms or their affiliates. Makes other changes.
Title
FINANCE-RUUPA
Sponsors
Roll Calls
2024-05-23 - House - Third Reading in House (Y: 111 N: 0 NV: 1 Abs: 0) [PASS]
2024-04-10 - Senate - Third Reading in Senate (Y: 58 N: 0 NV: 1 Abs: 0) [PASS]
2024-04-10 - Senate - Third Reading in Senate (Y: 58 N: 0 NV: 1 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2024-08-09 | Senate | Public Act . . . . . . . . . 103-0977 |
| 2024-08-09 | Senate | Effective Date January 1, 2025 |
| 2024-08-09 | Senate | Governor Approved |
| 2024-06-21 | Senate | Sent to the Governor |
| 2024-05-23 | Senate | Passed Both Houses |
| 2024-05-23 | House | Third Reading - Short Debate - Passed 111-000-000 |
| 2024-05-17 | House | Third Reading/Final Action Deadline Extended-9(b) May 24, 2024 |
| 2024-05-07 | House | Placed on Calendar Order of 3rd Reading - Short Debate |
| 2024-05-07 | House | Second Reading - Short Debate |
| 2024-05-01 | House | Placed on Calendar 2nd Reading - Short Debate |
| 2024-04-30 | House | Do Pass / Short Debate Financial Institutions and Licensing Committee; 012-000-000 |
| 2024-04-24 | House | Assigned to Financial Institutions and Licensing Committee |
| 2024-04-11 | House | Referred to Rules Committee |
| 2024-04-11 | House | First Reading |
| 2024-04-11 | House | Chief House Sponsor Rep. Marcus C. Evans, Jr. |
| 2024-04-10 | House | Arrived in House |
| 2024-04-10 | Senate | Third Reading - Passed; 058-000-000 |
| 2024-04-10 | Senate | Placed on Calendar Order of 3rd Reading |
| 2024-04-10 | Senate | Senate Floor Amendment No. 1 Adopted |
| 2024-04-10 | Senate | Recalled to Second Reading |
| 2024-04-10 | Senate | Senate Floor Amendment No. 1 Recommend Do Adopt Judiciary; 008-000-000 |
| 2024-04-09 | Senate | Senate Floor Amendment No. 1 Assignments Refers to Judiciary |
| 2024-03-21 | Senate | Senate Floor Amendment No. 1 Referred to Assignments |
| 2024-03-21 | Senate | Senate Floor Amendment No. 1 Filed with Secretary by Sen. Robert F. Martwick |
| 2024-03-14 | Senate | Placed on Calendar Order of 3rd Reading March 20, 2024 |
| 2024-03-14 | Senate | Second Reading |
| 2024-03-13 | Senate | Added as Co-Sponsor Sen. Michael E. Hastings |
| 2024-03-06 | Senate | Placed on Calendar Order of 2nd Reading March 7, 2024 |
| 2024-03-06 | Senate | Do Pass Judiciary; 008-000-000 |
| 2024-02-20 | Senate | Assigned to Judiciary |
| 2024-02-07 | Senate | Referred to Assignments |
| 2024-02-07 | Senate | First Reading |
| 2024-02-07 | Senate | Filed with Secretary by Sen. Robert F. Martwick |
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 |
