Bill Title: Amends the State Officials and Employees Money Disposition Act. Provides that examiners of unclaimed property which 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. Changes the definition of property presumed to be abandoned to a corporate bond (rather than a state or municipal bond.) If a holder cannot liquidate virtual currency and cannot otherwise cause virtual currency to be liquidated, requires the holder to promptly notify the administrator in writing. The administrator may 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 pursuant to this Act or there is an indication of apparent owner interest. Provides that the sole administrative and legal procedure for claiming property is under this Act. Requires compliance with this Act before exercising the exclusive judicial remedy. Any appeal from the administrator's decision under the Illinois Administrative Procedure Act must be taken under the provisions of the Administrative Review Law. In governing void agreements, provides that this Section does not apply to an apparent owner's agreement with a CPA firm licensed under the Illinois Public Accounting Act or with an affiliate of such firm under certain conditions. Makes other changes.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Enrolled) 2024-06-21 - Sent to the Governor [SB3343 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Enrolled	2024-05-23	HTML/Text	Link	View
Engrossed	2024-04-10	HTML/Text	Link	View
Introduced	2024-02-07	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
Senate Amendment 001	2024-03-21	Proposed	HTML/Text	Link	View

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB3343 currently on file.

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