Bill Text: IL SB1637 | 2023-2024 | 103rd General Assembly | Introduced

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Bill Title: Amends the State Comptroller Act. Provides that after 3 years from the date of issuance of an original Comptroller's warrant, any sum of money payable shall be presumed abandoned and subject to disposition under the Revised Uniform Unclaimed Property Act (rather than after 5 years from the date of issuance of the original warrant but no later than 10 years after that date, the Comptroller may issue a replacement warrant on the Warrant Escheat Fund to a person or entity entitled thereto if certain requirements are met). Amends the Probate Act of 1975. Provides that on or after July 1, 2024, when the receipt of a ward, a distributee of an estate, or a claimant cannot be found, the representative shall report and remit the share of the missing person to the State Treasurer for disposition under the Revised Uniform Unclaimed Property Act. Amends the Revised Uniform Unclaimed Property Act. Provides that certain amounts payable under a provision related to the refund for erroneous assessments or overpayments are presumed abandoned if it is unclaimed by the apparent owner 3 years after the property becomes payable. Provides that if the administrator reasonably believes that the apparent owner of property presumed abandoned held by the administrator is: a unit of local government which files an audit report or annual financial report with the Comptroller, the administrator may give written notice to the person or persons identified in the most recent annual financial report as the contact person, the chief executive officer, and the chief financial officer; and a State agency, the administrator may give written notice to the person whom the records of the Comptroller indicate are the chief executive officer and chief fiscal officer of such State agency. Provides that property presumed abandoned where the administrator reasonably believes the owner is a unit of local government shall escheat to the State and shall be deposited into the Comptroller's Audit Expense Revolving Fund if certain requirements apply. Provides that property presumed abandoned where the administrator reasonably believes the owner is a State agency shall escheat to the State and shall be deposited into the General Revenue Fund if certain requirements apply. Makes other changes. Makes conforming changes in the Property Tax Code and the Governmental Account Audit Act. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2023-03-31 - Rule 3-9(a) / Re-referred to Assignments [SB1637 Detail]

Download: Illinois-2023-SB1637-Introduced.html

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103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 SB1637 Introduced 2/8/2023, by Sen. Sara Feigenholtz SYNOPSIS AS INTRODUCED:
See Index
Amends the State Comptroller Act. Provides that after 3 years from the date of issuance of an original Comptroller's warrant, any sum of money payable shall be presumed abandoned and subject to disposition under the Revised Uniform Unclaimed Property Act (rather than after 5 years from the date of issuance of the original warrant but no later than 10 years after that date, the Comptroller may issue a replacement warrant on the Warrant Escheat Fund to a person or entity entitled thereto if certain requirements are met). Amends the Probate Act of 1975. Provides that on or after July 1, 2024, when the receipt of a ward, a distributee of an estate, or a claimant cannot be found, the representative shall report and remit the share of the missing person to the State Treasurer for disposition under the Revised Uniform Unclaimed Property Act. Amends the Revised Uniform Unclaimed Property Act. Provides that certain amounts payable under a provision related to the refund for erroneous assessments or overpayments are presumed abandoned if it is unclaimed by the apparent owner 3 years after the property becomes payable. Provides that if the administrator reasonably believes that the apparent owner of property presumed abandoned held by the administrator is: a unit of local government which files an audit report or annual financial report with the Comptroller, the administrator may give written notice to the person or persons identified in the most recent annual financial report as the contact person, the chief executive officer, and the chief financial officer; and a State agency, the administrator may give written notice to the person whom the records of the Comptroller indicate are the chief executive officer and chief fiscal officer of such State agency. Provides that property presumed abandoned where the administrator reasonably believes the owner is a unit of local government shall escheat to the State and shall be deposited into the Comptroller's Audit Expense Revolving Fund if certain requirements apply. Provides that property presumed abandoned where the administrator reasonably believes the owner is a State agency shall escheat to the State and shall be deposited into the General Revenue Fund if certain requirements apply. Makes other changes. Makes conforming changes in the Property Tax Code and the Governmental Account Audit Act. Effective immediately.
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A BILL FOR
SB1637 LRB103 30605 LNS 57045 b
AN ACT concerning civil law.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The State Comptroller Act is amended by
changing Section 10.10 as follows:
(15 ILCS 405/10.10) (from Ch. 15, par. 210.10)
Sec. 10.10. (a) If any Comptroller's warrant is lost,
mislaid or destroyed, or becomes void after issuance, so that
it cannot be presented for payment by the person entitled
thereto, the Comptroller, at any time before that warrant is
paid by the State Treasurer, but within 3 5 years of the date
of issuance, may issue a replacement warrant to the person
entitled thereto. If the original warrant was not cancelled or
did not become void, the Comptroller, before issuing the
replacement warrant, shall issue a stop payment order on the
State Treasurer and receive a confirmation of the stop payment
order on the original warrant from the State Treasurer.
(b) Only the person entitled to the original warrant, or
his heirs or legal representatives, or a third party to whom it
was properly negotiated or the heirs or legal representatives
of such party, may request a replacement warrant. In the case
of a warrant issued to a payee who dies before the warrant is
paid by the State Treasurer and whose estate has been probated

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pursuant to law, the Comptroller, upon receipt of a certified
copy of a judicial order establishing the person or entity
entitled to payment, may issue a replacement warrant to such
person or entity.
(c) Within 12 months from the date of issuance of the
original warrant, if the original warrant has not been
canceled for redeposit, the Comptroller may issue a
replacement warrant on the original voucher drawing upon the
same fund and charging the same appropriation or other
expenditure authorization as the original warrant.
(d) Within 12 months from the date of issuance of the
original warrant, if the original warrant has been canceled
for redeposit, and if the issuance of the replacement warrant
would not over-obligate the appropriation or other expenditure
authority against which it is drawn, the Comptroller may issue
the replacement warrant. If the original warrant was issued
against an appropriation or other expenditure authority which
has lapsed, the replacement warrant shall be drawn on the
Warrant Escheat Fund. If the appropriation or other
obligational authority against which the replacement warrant
is drawn has not lapsed, the Comptroller shall notify the
originating agency of the request for a replacement warrant
and shall receive a replacement voucher from that agency
before drawing the replacement warrant, which shall be drawn
on the same fund and charged to the same appropriation or other
expenditure authority as the original warrant.

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(e) Within 12 months from the date of issuance of the
original warrant, if the original warrant has been canceled
for redeposit, the Comptroller may not issue a replacement
warrant where such issuance would over-obligate the
appropriation or other expenditure authority against which the
original warrant was drawn. Whenever the Comptroller is
presented with a request for a replacement warrant which may
not be issued under the limitation of this subsection, if the
appropriation or other expenditure authority against which the
original warrant was drawn has not lapsed, the Comptroller
shall immediately inform the originating agency of the request
and that the request may not be honored because of the
resulting over-obligation, and shall request the agency to
determine whether or not that agency will take some corrective
action before the applicable expenditure authorization lapses.
The originating agency shall respond to the Comptroller's
inquiry within 5 business days.
(f) After 12 months from the date of issuance of the
original warrant, if the original warrant has not been
cancelled for redeposit, the Comptroller shall issue the
replacement warrant on the Warrant Escheat Fund.
(f-5) After 3 5 years from the date of issuance of the
original warrant, any sum of money payable under this Section
shall be presumed abandoned and subject to disposition under
the Revised Uniform Unclaimed Property Act. but no later than
10 years after that date, the Comptroller may issue a

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replacement warrant on the Warrant Escheat Fund to a person or
entity entitled thereto, as those persons and entities are
described in subsection (b) of this Section, if the following
requirements are met:
(1) the person or entity verifies that the person or
entity is entitled to the original warrant;
(2) in the case of a warrant that is not presented by
the requestor, the paying agency certifies that the
original payee is still entitled to the payment; and
(3) the Comptroller's records are available and
confirm that the warrant was not replaced.
(g) Except as provided in this Section, requests for
replacement warrants for more than $500 shall show entitlement
to such warrant by including an affidavit, in writing, sworn
before a person authorized to administer oaths and
affirmations, stating the loss or destruction of the warrant,
or the fact that the warrant is void. However, when the written
request for a replacement warrant submitted by the person to
whom the original warrant was issued is accompanied by the
original warrant, no affidavit is required. Requests for
replacement warrants for $500 or less shall show entitlement
to such warrant by submitting a written statement of the loss
or destruction of the warrant, or the fact that the warrant is
void on an application form prescribed by the Comptroller. If
the person requesting the replacement is in possession of the
original warrant, or any part thereof, the original warrant or

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the part thereof must accompany the request for replacement.
The Comptroller shall then draw such replacement warrant, and
the treasurer shall pay the replacement warrant. If at the
time of a loss or destruction a warrant was negotiated to a
third party, however (which fact shall be ascertained by the
oath of the party making the application, or otherwise),
before the replacement warrant is drawn by the Comptroller,
the person requesting the replacement warrant must give the
Comptroller a bond or bonds with sufficient sureties, to be
approved by the Comptroller, when required by regulation of
the Comptroller, payable to the People of the State of
Illinois, for the refunding of the amount, together with all
costs and charges, should the State afterwards be compelled to
pay the original warrant.
(Source: P.A. 98-411, eff. 8-16-13; 98-756, eff. 7-16-14.)
Section 10. The Property Tax Code is amended by changing
Section 20-175 as follows:
(35 ILCS 200/20-175)
Sec. 20-175. Refund for erroneous assessments or
overpayments.
(a) In counties other than Cook County, if any property is
twice assessed for the same year, or assessed before it
becomes taxable, and the erroneously assessed taxes have been
paid either at sale or otherwise, or have been overpaid by the

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same claimant or by different claimants, the County Collector,
upon being satisfied of the facts in the case, shall refund the
taxes to the proper claimant. When the County Collector is
unable to determine the proper claimant, the circuit court, on
petition of the person paying the taxes, or his or her agent,
and being satisfied of the facts in the case, shall direct the
county collector to refund the taxes and deduct the amount
thereof, pro rata, from the moneys due to taxing bodies which
received the taxes erroneously paid, or their legal
successors. Pleadings in connection with the petition provided
for in this Section shall conform to that prescribed in the
Civil Practice Law. Appeals may be taken from the judgment of
the circuit court, either by the county collector or by the
petitioner, as in other civil cases. A claim for refund shall
not be allowed unless a petition is filed within 5 years from
the date the right to a refund arose. If a certificate of error
results in the allowance of a homestead exemption not
previously allowed, the county collector shall pay the
taxpayer interest on the amount of taxes paid that are
attributable to the amount of the additional allowance, at the
rate of 6% per year. To cover the cost of interest, the county
collector shall proportionately reduce the distribution of
taxes collected for each taxing district in which the property
is situated. Any sum of money payable under this subsection
which remains unclaimed for 3 years after the amount was
payable shall be presumed to be abandoned and subject to

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disposition under the Revised Uniform Unclaimed Property Act.
(a-1) In Cook County, if any property is twice assessed
for the same year, or assessed before it becomes taxable, and
the erroneously assessed taxes have been paid either at sale
or otherwise, or have been overpaid by the same claimant or by
different claimants, the Cook County Treasurer, upon being
satisfied of the facts in the case, shall refund the taxes to
the proper claimant. When the Cook County Treasurer is unable
to determine the proper claimant, the circuit court, on
petition of the person paying the taxes, or his or her agent,
and being satisfied of the facts in the case, shall direct the
Cook County Treasurer to refund the taxes plus costs of suit
and deduct the amount thereof, pro rata, from the moneys due to
taxing bodies which received the taxes erroneously paid, or
their legal successors. Pleadings in connection with the
petition provided for in this Section shall conform to that
prescribed in the Civil Practice Law. Appeals may be taken
from the judgment of the circuit court, either by the Cook
County Treasurer or by the petitioner, as in other civil
cases. A claim for refund shall not be allowed unless a
petition is filed within 20 years from the date the right to a
refund arose. The total amount of taxes and interest refunded
for claims under this subsection for which the right to a
refund arose prior to January 1, 2009 shall not exceed
$5,000,000 per year. If the payment of a claim for a refund
would cause the aggregate total of taxes and interest for all

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claims to exceed $5,000,000 in any year, the refund shall be
paid in the next succeeding year. If a certificate of error
results in the allowance of a homestead exemption not
previously allowed, the Cook County Treasurer shall pay the
taxpayer interest on the amount of taxes paid that are
attributable to the amount of the additional allowance, at the
rate of 6% per year. To cover the cost of interest, the Cook
County Treasurer shall proportionately reduce the distribution
of taxes collected for each taxing district in which the
property is situated. Any sum of money payable under this
subsection which remains unclaimed for 3 years after the
amount was payable shall be presumed to be abandoned and
subject to disposition under the Revised Uniform Unclaimed
Property Act.
(b) Notwithstanding any other provision of law, in Cook
County a claim for refund under this Section is also allowed if
the application therefor is filed between September 1, 2011
and September 1, 2012 and the right to a refund arose more than
5 years prior to the date the application is filed but not
earlier than January 1, 2000. The Cook County Treasurer, upon
being satisfied of the facts in the case, shall refund the
taxes to the proper claimant and shall proportionately reduce
the distribution of taxes collected for each taxing district
in which the property is situated. Refunds under this
subsection shall be paid in the order in which the claims are
received. The Cook County Treasurer shall not accept a claim

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for refund under this subsection before September 1, 2011. For
the purposes of this subsection, the Cook County Treasurer
shall accept a claim for refund by mail or in person. In no
event shall a refund be paid under this subsection if the
issuance of that refund would cause the aggregate total of
taxes and interest refunded for all claims under this
subsection to exceed $350,000. The Cook County Treasurer shall
notify the public of the provisions of this subsection on the
Treasurer's website. A home rule unit may not regulate claims
for refunds in a manner that is inconsistent with this Act.
This Section is a limitation of home rule powers under
subsection (i) of Section 6 of Article VII of the Illinois
Constitution.
(Source: P.A. 100-1104, eff. 8-27-18.)
Section 15. The Governmental Account Audit Act is amended
by changing Section 4.5 as follows:
(50 ILCS 310/4.5)
Sec. 4.5. Comptroller's Audit Expense Revolving Fund.
There is created the Comptroller's Audit Expense Revolving
Fund as a special fund to be held by the State Treasurer, ex
officio, as custodian, but separate and apart from the funds
in the State treasury. The following moneys shall be deposited
into that Fund:
(1) All moneys received by the Comptroller for

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reimbursement of the Comptroller's cost of performing
audits and preparing or completing reports under Section 4
of this Act, Section 6-31004 of the Counties Code, or
Section 8-8-4 of the Illinois Municipal Code.
(2) All moneys appropriated to that Fund by the
General Assembly.
(3) All moneys escheated to the State pursuant to
Section 15-805 of the Revised Uniform Unclaimed Property
Act.
Expenditures from the Fund shall be made on vouchers
signed by the Comptroller, for the sole purpose of paying the
Comptroller's cost of performing audits and preparing or
completing reports under Section 4 of this Act, Section
6-31004 of the Counties Code, or Section 8-8-4 of the Illinois
Municipal Code.
The State Treasurer shall invest moneys in the Fund in the
same manner and subject to the same restrictions as moneys in
the State treasury.
(Source: P.A. 88-280.)
Section 20. The Probate Act of 1975 is amended by changing
Section 24-20 as follows:
(755 ILCS 5/24-20) (from Ch. 110 1/2, par. 24-20)
Sec. 24-20. Deposit of unclaimed money. Before July 1,
2024, when When the receipt of a ward, a distributee of an

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estate, or a claimant cannot be obtained for money or any other
asset of the estate, the representative by leave of court may
sell the asset and deposit the net proceeds together with any
other money of the estate belonging to the ward, distributee,
or claimant with the county treasurer of the county in which
the estate is being administered. The representative shall
notify the county treasurer in writing of the identity of the
persons entitled thereto and, if known, their last known post
office address. The county treasurer shall give the
representative a receipt therefor which shall be filed in the
court. The person entitled to the money so deposited may
obtain it, plus interest at a rate equal to the average
interest rate on 3 month United States Treasury Bills issued
during the time the money was on deposit, upon application to
the court and satisfactory proof of his right thereto.
On or after July 1, 2024, when the receipt of a ward, a
distributee of an estate, or a claimant cannot be found, the
representative shall report and remit the share of the missing
person to the State Treasurer for disposition under the
Revised Uniform Unclaimed Property Act.
(Source: P.A. 88-46.)
Section 25. The Revised Uniform Unclaimed Property Act is
amended by changing Sections 15-201, 15-202, 15-210, 15-504,
and 15-804 and by adding Sections 15-805 and 15-806 as
follows:

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(765 ILCS 1026/15-201)
Sec. 15-201. When property presumed abandoned. Subject to
Section 15-210, the following property is presumed abandoned
if it is unclaimed by the apparent owner during the period
specified below:
(1) a traveler's check, 15 years after issuance;
(2) a money order, 5 years after issuance;
(3) any instrument on which a financial organization
or business association is directly liable, other than a
money order, 3 years after issuance;
(4) a state or municipal bond, bearer bond, or
original-issue-discount bond, 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;
(5) a debt of a business association, 3 years after
the obligation to pay arises;
(6) financial organization deposits as follows:
(i) a demand deposit, 3 years after the date of the
last indication of interest in the property by the
apparent owner;
(ii) a savings deposit, 3 years after the date of
last indication of interest in the property by the
apparent owner;
(iii) a time deposit for which the owner has not
consented to automatic renewal of the time deposit, 3

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years after the later of maturity or the date of the
last indication of interest in the property by the
apparent owner;
(iv) an automatically renewable time deposit for
which the owner consented to the automatic renewal in
a record on file with the holder, 3 years after the
date of last indication of interest in the property by
the apparent owner, following the completion of the
initial term of the time deposit and one automatic
renewal term of the time deposit;
(6.5) virtual currency, 5 years after the last
indication of interest in the property;
(7) money or a credit owed to a customer as a result of
a retail business transaction, other than in-store credit
for returned merchandise, 3 years after the obligation
arose;
(8) an amount owed by an insurance company on a life or
endowment insurance policy or an annuity contract that has
matured or terminated, 3 years after the obligation to pay
arose under the terms of the policy or contract or, if a
policy or contract for which an amount is owed on proof of
death has not matured by proof of the death of the insured
or annuitant, as follows:
(A) with respect to an amount owed on a life or
endowment insurance policy, the earlier of:
(i) 3 years after the death of the insured; or

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(ii) 2 years after the insured has attained,
or would have attained if living, the limiting age
under the mortality table on which the reserve for
the policy is based; and
(B) with respect to an amount owed on an annuity
contract, 3 years after the death of the annuitant.
(9) funds on deposit or held in trust pursuant to the
Illinois Funeral or Burial Funds Act, the earliest of:
(A) 2 years after the date of death of the
beneficiary;
(B) one year after the date the beneficiary has
attained, or would have attained if living, the age of
105 where the holder does not know whether the
beneficiary is deceased;
(C) 40 years after the contract for prepayment was
executed, unless the apparent owner has indicated an
interest in the property more than 40 years after the
contract for prepayment was executed, in which case, 3
years after the last indication of interest in the
property by the apparent owner;
(10) property distributable by a business association
in the course of dissolution or distributions from the
termination of a retirement plan, one year after the
property becomes distributable;
(11) property held by a court, including property
received as proceeds of a class action, 3 years after the

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property becomes distributable;
(12) property held by a government or governmental
subdivision, agency, or instrumentality, including
municipal bond interest and unredeemed principal under the
administration of a paying agent or indenture trustee, 3
years after the property becomes distributable;
(12.5) amounts payable pursuant to Section 20-175 of
the Property Tax Code, 3 years after the property becomes
payable;
(13) wages, commissions, bonuses, or reimbursements to
which an employee is entitled, or other compensation for
personal services, including amounts held on a payroll
card, one year after the amount becomes payable;
(14) a deposit or refund owed to a subscriber by a
utility, one year after the deposit or refund becomes
payable, except that any capital credits or patronage
capital retired, returned, refunded or tendered to a
member of an electric cooperative, as defined in Section
3.4 of the Electric Supplier Act, or a telephone or
telecommunications cooperative, as defined in Section
13-212 of the Public Utilities Act, that has remained
unclaimed by the person appearing on the records of the
entitled cooperative for more than 2 years, shall not be
subject to, or governed by, any other provisions of this
Act, but rather shall be used by the cooperative for the
benefit of the general membership of the cooperative; and

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(15) property not specified in this Section or
Sections 15-202 through 15-208, the earlier of 3 years
after the owner first has a right to demand the property or
the obligation to pay or distribute the property arises.
Notwithstanding anything to the contrary in this Section
15-201, and subject to Section 15-210, a deceased owner cannot
indicate interest in his or her property. If the owner is
deceased and the abandonment period for the owner's property
specified in this Section 15-201 is greater than 2 years, then
the property, other than an amount owed by an insurance
company on a life or endowment insurance policy or an annuity
contract that has matured or terminated, shall instead be
presumed abandoned 2 years from the date of the owner's last
indication of interest in the property.
(Source: P.A. 101-552, eff. 1-1-20; 102-288, eff. 8-6-21.)
(765 ILCS 1026/15-202)
Sec. 15-202. When tax-deferred and tax-exempt retirement
accounts presumed abandoned.
(a) Subject to Section 15-210, property held in a pension
account or retirement account that qualifies for tax deferral
or tax exemption under the income-tax laws of the United
States is presumed abandoned if it is unclaimed by the
apparent owner after the later of:
(1) 3 years after the following dates:
(A) except as in subparagraph (B), the date a

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communication sent by the holder by first-class United
States mail to the apparent owner is returned to the
holder undelivered by the United States Postal
Service; or
(B) if such communication is re-sent within 30
days after the date the first communication is
returned undelivered, the date the second
communication was returned undelivered by the United
States Postal Service; or
(2) the earlier of the following dates:
(A) 3 years after the date the apparent owner
becomes 73 72 years of age, if determinable by the
holder; or
(B) one year after the date of mandatory
distribution following death if the Internal Revenue
Code requires distribution to avoid a tax penalty and
the holder:
(i) receives confirmation of the death of the
apparent owner in the ordinary course of its
business; or
(ii) confirms the death of the apparent owner
under subsection (b).
(b) If a holder in the ordinary course of its business
receives notice or an indication of the death of an apparent
owner and subsection (a)(2) applies, the holder shall attempt
not later than 90 days after receipt of the notice or

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indication to confirm whether the apparent owner is deceased.
(c) If the holder does not send communications to the
apparent owner of an account described in subsection (a) by
first-class United States mail on at least an annual basis,
the holder shall attempt to confirm the apparent owner's
interest in the property by sending the apparent owner an
electronic-mail communication not later than 2 years after the
apparent owner's last indication of interest in the property.
However, the holder promptly shall attempt to contact the
apparent owner by first-class United States mail if:
(1) the holder does not have information needed to
send the apparent owner an electronic mail communication
or the holder believes that the apparent owner's
electronic mail address in the holder's records is not
valid;
(2) the holder receives notification that the
electronic-mail communication was not received; or
(3) the apparent owner does not respond to the
electronic-mail communication within 30 days after the
communication was sent.
(d) If first-class United States mail sent under
subsection (c) is returned to the holder undelivered by the
United States Postal Service, the property is presumed
abandoned 3 years after the later of:
(1) except as in paragraph (2), the date a
communication to contact the apparent owner sent by

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first-class United States mail is returned to the holder
undelivered;
(2) if such communication is re-sent within 30 days
after the date the first communication is returned
undelivered, the date the second communication was
returned undelivered; or
(3) the date established by subsection (a)(2).
(Source: P.A. 102-288, eff. 8-6-21.)
(765 ILCS 1026/15-210)
Sec. 15-210. Indication of apparent owner interest in
property.
(a) The period after which property is presumed abandoned
is measured from the later of:
(1) the date the property is presumed abandoned under
this Article; or
(2) the latest indication of interest by the apparent
owner in the property.
(b) Under this Act, an indication of an apparent owner's
interest in property includes:
(1) a record communicated by the apparent owner to the
holder or agent of the holder concerning the property or
the account in which the property is held;
(2) an oral communication by the apparent owner to the
holder or agent of the holder concerning the property or
the account in which the property is held, if the holder or

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its agent contemporaneously makes and preserves a record
of the fact of the apparent owner's communication;
(3) presentment of a check or other instrument of
payment of a dividend, interest payment, or other
distribution, or evidence of receipt of a distribution
made by electronic or similar means, with respect to an
account, underlying security, or interest in a business
association;
(4) activity directed by an apparent owner in the
account in which the property is held, including accessing
the account or information concerning the account, or a
direction by the apparent owner to increase, decrease, or
otherwise change the amount or type of property held in
the account;
(5) a deposit into or withdrawal from an account at a
financial organization, except for a recurring Automated
Clearing House (ACH) debit or credit previously authorized
by the apparent owner or an automatic reinvestment of
dividends or interest; and
(6) subject to subsection (e), payment of a premium on
an insurance policy.
(c) An action by an agent or other representative of an
apparent owner, other than the holder acting as the apparent
owner's agent, is presumed to be an action on behalf of the
apparent owner.
(d) A communication with an apparent owner by a person

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other than the holder or the holder's representative is not an
indication of interest in the property by the apparent owner
unless a record of the communication evidences the apparent
owner's knowledge of a right to the property.
(e) If the insured dies or the insured or beneficiary of an
insurance policy otherwise becomes entitled to the proceeds
before depletion of the cash surrender value of the policy by
operation of an automatic-premium-loan provision or other
nonforfeiture provision contained in the policy, the operation
does not prevent the policy from maturing or terminating.
(f) If the apparent owner has another property with the
holder to which Section 201(6) applies, then activity directed
by an apparent owner in any other accounts, including loan
accounts, at a financial organization holding an inactive
account of the apparent owner shall be an indication of
interest in all such accounts if:
(A) the apparent owner engages in one or more of the
following activities:
(i) the apparent owner undertakes one or more of
the actions described in subsection (b) of this
Section regarding any of the other accounts the
apparent owner has with the financial organization;
(ii) the apparent owner increases or decreases the
amount of funds in any other account the apparent
owner has with the financial organization; or
(iii) the apparent owner engages in any other

SB1637 - 22 - LRB103 30605 LNS 57045 b
relationship with the financial organization,
including payment of any amounts due on a loan; and
(B) the foregoing apply so long as the mailing address
for the apparent owner in the financial organization's
books and records is the same for both the inactive
account and the active account.
(g) For an amount held on a payroll card, an indication of
owner interest includes wages from an employer pursuant to
Section 14.5 of the Illinois Wage Payment and Collection Act
in the form of a recurring ACH credit previously authorized by
the apparent owner; however, an ACH credit is not an
indication of owner interest if the holder assesses fees for
account inactivity on the payroll card account.
(Source: P.A. 102-288, eff. 8-6-21; 102-734, eff. 1-1-23.)
(765 ILCS 1026/15-504)
Sec. 15-504. Cooperation among State officers and agencies
to locate apparent owner.
(a) Unless prohibited by law of this State other than this
Act, on request of the administrator, each officer, agency,
board, commission, division, and department of this State, any
body politic and corporate created by this State for a public
purpose, and each political subdivision of this State shall
make its books and records available to the administrator and
cooperate with the administrator to determine the current
address of an apparent owner of property held by the

SB1637 - 23 - LRB103 30605 LNS 57045 b
administrator under this Act or to otherwise assist the
administrator in the administration of this Act. The
administrator may also enter into data sharing agreements to
enable such other governmental agencies to provide an
additional notice to apparent owners of property held by the
administrator.
(b) If the administrator reasonably believes that the
apparent owner of property presumed abandoned held by the
administrator under this Act is a unit of local government in
this State which files an audit report or annual financial
report with the Comptroller, the administrator may give
written notice to the person or persons identified in the most
recent annual financial report as the contact person, the
chief executive officer, and the chief financial officer.
(c) If the administrator reasonably believes that the
apparent owner of property presumed abandoned held by the
administrator under this Act is a State agency as defined in
the Illinois State Auditing Act, the administrator may give
written notice to the person whom the records of the
Comptroller indicate are the chief executive officer and chief
fiscal officer of such State agency.
(Source: P.A. 100-22, eff. 1-1-18.)
(765 ILCS 1026/15-804)
Sec. 15-804. Administrator holds property as custodian for
owner. Upon the payment or delivery of abandoned property to

SB1637 - 24 - LRB103 30605 LNS 57045 b
the administrator, the State shall assume custody and shall be
responsible for the safekeeping thereof in perpetuity unless
otherwise claimed for the benefit of the owner or the owner's
successors in interest.
(Source: P.A. 100-22, eff. 1-1-18.)
(765 ILCS 1026/15-805 new)
Sec. 15-805. Escheat of certain abandoned local government
moneys. Property presumed abandoned where the administrator
reasonably believes the owner is a unit of local government in
this State shall escheat to the State and shall be deposited
into the Comptroller's Audit Expense Revolving Fund if all of
the following apply:
(1) the administrator has provided written notice to
the unit of local government pursuant to subsection (b) of
Section 15-504 at least 3 times in at least 3 different
calendar years;
(2) it has been more than 5 years since the
administrator first provided written notice to the unit of
local government pursuant to subsection (b) of Section
15-504;
(3) the administrator has published a notice on the
administrator's website for at least one year of the value
of the property, the name of the unit of local government,
and that such presumed abandoned property is subject to
escheat; and

SB1637 - 25 - LRB103 30605 LNS 57045 b
(4) the unit of local government has not initiated a
claim or otherwise expressed an indication of interest in
the property.
(765 ILCS 1026/15-806 new)
Sec. 15-806. Escheat of certain abandoned State agency
moneys. Property presumed abandoned where the administrator
reasonably believes the owner is a State agency as defined in
the Illinois State Auditing Act, shall escheat to the State
and shall be deposited into the General Revenue Fund if all of
the following apply:
(1) the administrator has provided written notice to
the State agency pursuant to subsection (c) of Section
15-504 at least 3 times in at least 3 different calendar
years;
(2) it has been more than 3 years since the
administrator first provided written notice to the State
agency pursuant to subsection (c) of Section 15-504; and
(3) the State agency has not initiated a claim or
otherwise expressed an indication of interest in the
property.
Section 99. Effective date. This Act takes effect upon
becoming law.
SB1637 - 26 - LRB103 30605 LNS 57045 b
INDEX
Statutes amended in order of appearance