SB1667
View on ILGATRUST CODE-UNCLAIMED PROPERTY
What this bill does
Amends the Illinois Trust Code. Requires a trustee to maintain, for a minimum of 7 years after the termination of the trust, a copy of the governing trust instrument under which the trustee was authorized to act at the time the trust terminated. Amends the Revised Uniform Unclaimed Property Act. Provides that property held in an account or plan, including a health savings account, that qualifies for tax deferral under the United States income tax law, is presumed abandoned 20 years after the account was opened. Requires State agencies to report final compensation due a State employee to the Treasurer's Office as unclaimed property if the employee dies while employed. Requires a holder who holds property presumed abandoned to hold the property in trust for the benefit of the State Treasurer on behalf of the owner from and after the date the property is presumed abandoned. Requires that the State Treasurer provide written notice to a State agency and the Governor's Office of Management and Budget of property presumed to be abandoned and allegedly owned by the State agency before it can be escheated to the State's General Revenue Fund if the property remains unclaimed after one year. Creates authority for the Secretary of the Department of Financial and Professional Regulation to order a regulated person under the Act to immediately report and remit property subject to the Act if the Secretary determines that the action is necessary to protect the interest of an owner. Establishes a procedure regulating agreements between an owner or apparent owner and a finder to locate or recover property held by the State Treasurer. Requires a finder to be licensed by the State Treasurer and creates qualifications to be so licensed. Makes definitions. Makes other changes. The Treasurer is authorized to adopt rules as necessary to implement the Act. Effective immediately.
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Pipeline Progress
Current stage: Signed into Law · Last action 251 days ago
How does a bill become law in Illinois?
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Introduction of Bill
A member of the Senate or the House introduces a bill, which is assigned a unique identifying number (e.g., "H.B. ___" for House bills and "S.B. ___" for Senate bills). If not enacted, it must be reintroduced in the next General Assembly with a new number.
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Committee Work — Hearings
The bill goes to the appropriate committee, which holds hearings to gather expert opinions and determine the need for the legislation.
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Committee Work — Markup, Amendments, Report
The committee may make amendments to the bill. If approved, a committee report endorsing the bill is issued.
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Floor Debate
The bill is debated and can be further amended. The debate transcripts are accessible online for public viewing.
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Passage and Consideration in Second Chamber
If the bill passes in the first chamber, it moves to the second chamber for a similar review process. If both chambers approve, it goes to the governor.
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Gubernatorial Action
The governor can sign the bill into law, veto it, or take no action (resulting in an automatic law after 60 days). The type of veto can be total or amendatory. Once signed, the bill becomes a Public Act and is assigned a Public Act number.
Sponsor Context
Public Engagement
Witness slips
29 slips filed. Proponent / opponent / no position as filed with the committee.
| Name | Organization | Representing | Position | Hearing committee | Hearing date |
|---|---|---|---|---|---|
| Allen Mayer | Illinois State Treasurer's Office | Illinois State Treasurer Michael Frerichs | Proponent | Judiciary - Civil | 2025-04-30 |
| David Eldridge | David P. Eldridge | Illinois State Bar Association | Proponent | Judiciary - Civil | 2025-04-30 |
| Steve Sturm | Illinois State Treasurer's Office | Illinois State Treasurer Michael Frerichs | Proponent | Judiciary - Civil | 2025-04-30 |
| David Eldridge | David P. Eldridge | Illinois State Bar Association | Proponent | Judiciary - Civil | 2025-04-23 |
| Allen Mayer | Office of the Illinois State Treasurer | Illinois State Treasurer Michael Frerichs | Proponent | Judiciary | 2025-03-05 |
| David Schwartz | Self | Self | Proponent | Judiciary | 2025-02-26 |
| Janice Alwin | Oak Point Partners | Oak Point Partners | Opponent | Judiciary - Civil | 2025-04-30 |
| Janice Alwin | Oak Point Partners | Oak Point Partners | Opponent | Judiciary - Civil | 2025-04-23 |
| Noah Bazis | Institute for Justice | Institute for Justice | Opponent | Judiciary | 2025-03-05 |
| Meagan Forbes | Institute for Justice | Institute for Justice | Opponent | Judiciary | 2025-02-26 |
| Kate Morthland | Illinois Life & Health Insurance Council | Illinois Life & Health Insurance Council | No Position On Merits | Judiciary - Civil | 2025-04-30 |
| Laura Minzer | Illinois Life & Health Insurance Council | Illinois Life & Health Insurance Council | No Position On Merits | Judiciary - Civil | 2025-04-30 |
| Marc Reiter | IDFPR | Illinois Department of Financial and Professional Regulation | No Position On Merits | Judiciary - Civil | 2025-04-30 |
| Kate Morthland | Illinois Life & Health Insurance Council | Illinois Life & Health Insurance Council | No Position On Merits | Judiciary - Civil | 2025-04-23 |
| Laura Minzer | Illinois Life & Health Insurance Council | Illinois Life & Health Insurance Council | No Position On Merits | Judiciary - Civil | 2025-04-23 |
| Marc Reiter | IDFPR | IDFPR | No Position On Merits | Judiciary - Civil | 2025-04-23 |
| Marc Reiter | IDFPR | IDFPR | No Position On Merits | Judiciary | 2025-03-05 |
| Marc Reiter | IDFPR | IDFPR | No Position On Merits | Judiciary | 2025-02-26 |
| Allen Mayer | Office of the Illinois State Treasurer | Illinois State Treasurer Michael Frerichs | Proponent | Judiciary | 2025-04-02 |
| David Schwartz | Self | Self | Proponent | Judiciary | 2025-04-02 |
| Aimee Albrecht | Na | none | Opponent | Judiciary | 2025-04-02 |
| Janice Alwin | Oak Point Partners | Oak Point Partners | Opponent | Judiciary | 2025-04-02 |
| Allen Mayer | Office of the Illinois State Treasurer | Illinois State Treasurer Michael Frerichs | Proponent | Judiciary | 2025-04-02 |
| Janice Alwin | Oak Point Partners | Oak Point Partners | Opponent | Judiciary | 2025-04-02 |
| Ben Jackson | Illinois Bankers Association | Illinois Bankers Association | Proponent | Judiciary | 2025-04-09 |
| David Eldridge | David P. Eldridge | Illinois State Bar Association | Proponent | Judiciary | 2025-04-09 |
| Steven Sturm | Office of the Illinois State Treasurer | Illinois State Treasurer Michael Frerichs | Proponent | Judiciary | 2025-04-09 |
| Kate Morthland | Illinois Life & Health Insurance Council | Illinois Life & Health Insurance Council | No Position On Merits | Judiciary | 2025-04-09 |
| Laura Minzer | Illinois Life & Health Insurance Council | Illinois Life & Health Insurance Council | No Position On Merits | Judiciary | 2025-04-09 |
Roll-call votes
Total votes and outcome per event. Deciding vote = margin of 1; those voters on the winning side could have changed the outcome by flipping.
| Date | Chamber | Type | Description | Yea | Nay | Present | NV | Outcome | Margin | Deciding voters |
|---|---|---|---|---|---|---|---|---|---|---|
| H | Committee | Judiciary - Civil | 13 | 7 | 0 | 0 | Passed | 6 | — | |
| 2025-05-20 | H | Floor | Third Reading | 73 | 40 | 0 | 5 | Passed | 33 | — |
| S | Committee | Judiciary | 7 | 0 | 0 | 2 | Passed | 7 | — | |
| S | Floor | Third Reading | 55 | 0 | 0 | 4 | Passed | 55 | — |
Action History
50 actions recorded. Last action: 2025-08-01 — Public Act . . . . . . . . .104-0116. Each action's meaning and outcome signal are classified automatically.
All actions (table)
| Date | Chamber | Action | Category | Signal |
|---|---|---|---|---|
| 2025-02-05 | Senate | Filed with Secretary bySen. Robert F. Martwick Rule 2-7(b) | Introduction & Filing | — |
| 2025-02-05 | Senate | First Reading Senate Rule 5-1(d)/5-2; House Rule 37(d)/38 | Introduction & Filing | — |
| 2025-02-05 | Senate | Referred toAssignments Senate Rule 3-8(a); House Rule 18(a) | Committee Assignment | — |
| 2025-02-18 | Senate | Assigned toJudiciary Senate Rule 3-8(a); House Rule 18(b) | Committee Assignment | — |
| 2025-02-27 | Senate | Postponed -Judiciary Senate Rule 3-11; House Rule 22 | Committee Action | — |
| 2025-03-04 | Senate | Senate Committee Amendment No. 1 Filed with Secretary bySen. Robert F. Martwick | Amendment Actions | — |
| 2025-03-04 | Senate | Senate Committee Amendment No. 1 Referred toAssignments | Amendment Actions | — |
| 2025-03-04 | Senate | Added as Co-SponsorSen. Michael W. Halpin Senate Rule 5-1(a); House Rule 37(a) | Co-Sponsorship | Mild + |
| 2025-03-06 | Senate | Do PassJudiciary; 007-000-000 Rule 3-11(a)(1), Rule 3-12(a) | Committee Action | Positive |
| 2025-03-06 | Senate | Placed on Calendar Order of 2nd Reading March 18, 2025 Rule 3-12(a), Rule 4-4(7) | Floor Process | Positive |
| 2025-03-18 | Senate | Second Reading Senate Rule 3-12(a)/5-4(a); House Rule 24(a)/40(b) | Floor Process | Positive |
| 2025-03-18 | Senate | Placed on Calendar Order of 3rd Reading March 19, 2025 Rule 4-4(8) | Floor Process | Positive |
| 2025-03-18 | Senate | Senate Floor Amendment No. 2 Filed with Secretary bySen. Robert F. Martwick | Amendment Actions | — |
| 2025-03-18 | Senate | Senate Floor Amendment No. 2 Referred toAssignments | Amendment Actions | — |
| 2025-03-19 | Senate | Senate Floor Amendment No. 2 Assignments Refers toJudiciary | Amendment Actions | — |
| 2025-03-31 | Senate | Senate Floor Amendment No. 3 Filed with Secretary bySen. Robert F. Martwick | Amendment Actions | — |
| 2025-03-31 | Senate | Senate Floor Amendment No. 3 Referred toAssignments | Amendment Actions | — |
| 2025-04-01 | Senate | Senate Floor Amendment No. 3 Assignments Refers toJudiciary | Amendment Actions | — |
| 2025-04-01 | Senate | Senate Floor Amendment No. 4 Filed with Secretary bySen. Robert F. Martwick | Amendment Actions | — |
| 2025-04-01 | Senate | Senate Floor Amendment No. 4 Referred toAssignments | Amendment Actions | — |
| 2025-04-02 | Senate | Senate Floor Amendment No. 4 Assignments Refers toJudiciary | Amendment Actions | — |
| 2025-04-02 | Senate | Senate Floor Amendment No. 2 Postponed -Judiciary | Amendment Actions | — |
| 2025-04-03 | Senate | Senate Floor Amendment No. 4 Recommend Do AdoptJudiciary; 008-000-000 | Amendment Actions | — |
| 2025-04-03 | Senate | Senate Floor Amendment No. 5 Filed with Secretary bySen. Robert F. Martwick | Amendment Actions | — |
| 2025-04-03 | Senate | Senate Floor Amendment No. 5 Referred toAssignments | Amendment Actions | — |
| 2025-04-08 | Senate | Senate Floor Amendment No. 5 Assignments Refers toJudiciary | Amendment Actions | — |
| 2025-04-09 | Senate | Senate Floor Amendment No. 5 Recommend Do AdoptJudiciary; 008-000-000 | Amendment Actions | — |
| 2025-04-10 | Senate | Recalled to Second Reading Rule 5-4(a) | Floor Process | — |
| 2025-04-10 | Senate | Senate Floor Amendment No. 5 Adopted; Martwick | Amendment Actions | — |
| 2025-04-10 | Senate | Placed on Calendar Order of 3rd Reading Rule 4-4(8) | Floor Process | Positive |
| 2025-04-10 | Senate | Third Reading - Passed;055-000-000 Rule 5-1(f) | Floor Vote | Positive |
| 2025-04-10 | Senate | Senate Committee Amendment No. 1 Tabled Pursuant to Rule 5-4(a) | Amendment Actions | — |
| 2025-04-10 | Senate | Senate Floor Amendment No. 2 Tabled Pursuant to Rule 5-4(a) | Amendment Actions | — |
| 2025-04-10 | Senate | Senate Floor Amendment No. 3 Tabled Pursuant to Rule 5-4(a) | Amendment Actions | — |
| 2025-04-10 | Senate | Senate Floor Amendment No. 4 Tabled Pursuant to Rule 5-4(a) | Amendment Actions | — |
| 2025-04-10 | House | Arrived in House Senate Rule 5-1(d)/4-4(9-11); House Rule 37(d)/31(10-12) | Cross-Chamber | Positive |
| 2025-04-10 | House | Chief House SponsorRep. Diane Blair-Sherlock Senate Rule 5-1(d)/4-4(9-11); House Rule 37(d)/31(10-12) | Cross-Chamber | Positive |
| 2025-04-11 | House | First Reading Senate Rule 5-1(d)/5-2; House Rule 37(d)/38 | Introduction & Filing | — |
| 2025-04-11 | House | Referred toRules Committee Senate Rule 3-8(a); House Rule 18(a) | Committee Assignment | — |
| 2025-04-17 | House | Assigned toJudiciary - Civil Committee Senate Rule 3-8(a); House Rule 18(b) | Committee Assignment | — |
| 2025-04-30 | House | Do Pass / Short DebateJudiciary - Civil Committee; 013-007-000 Senate Rule 3-11(a)(1); House Rule 22(a)(1), 52(b) | Committee Action | Positive |
| 2025-04-30 | House | Placed on Calendar 2nd Reading - Short Debate Senate Rule 4-4(7-8)/5-2; House Rule 31(8-9)/38/52 | Floor Process | Positive |
| 2025-05-14 | House | Second Reading - Short Debate Senate Rule 3-12(a)/5-4(a); House Rule 24(a)/40(b)/52(a)(1) | Floor Process | Positive |
| 2025-05-14 | House | Placed on Calendar Order of 3rd Reading - Short Debate Rule 4-4(8) | Floor Process | Positive |
| 2025-05-20 | House | Third Reading - Short Debate - Passed073-040-000 Senate Rule 5-1(f)/7-1/7-2; House Rule 37(f)/49/50 | Floor Vote | Positive |
| 2025-05-20 | Senate | Passed Both Houses Rule 8-1, Rule 8-4 | Concurrence | Positive |
| 2025-06-18 | Senate | Sent to the Governor Senate Article IX/Rules 9-1 to 9-6; House Article IX/Rules 77-82 | Governor Action | Positive |
| 2025-08-01 | Senate | Governor Approved Senate Article IX/Rules 9-1 to 9-6; House Article IX/Rules 77-82 | Governor Action | Positive |
| 2025-08-01 | Senate | Effective Date January 1, 2026 Article IX | Enacted Into Law | Law |
| 2025-08-01 | Senate | Public Act . . . . . . . . .104-0116 Article IX | Enacted Into Law | Law |