Fabio
121 lines
10 KiB
Markdown
121 lines
10 KiB
Markdown
---
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type: "Bill"
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title: "TRUST CODE-UNCLAIMED PROPERTY"
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description: "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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jurisdiction: "us/states/il"
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legislature: "Illinois General Assembly"
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session: "104th"
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identifier: "SB 1667"
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citation: "Illinois SB 1667 (104th)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: ["Diane Blair-Sherlock", "Robert F. Martwick"]
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version_count: 8
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action_count: 50
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vote_count: 6
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first_action: "2025-02-05"
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last_action: "2025-08-01"
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source: "openstates"
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source_identifier: "ocd-bill/e65f5e68-9f48-49ea-8a2f-55f121b3ea7a"
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source_url: "https://ilga.gov/Legislation/BillStatus?DocNum=1667&GAID=18&DocTypeID=SB&LegId=160575&SessionID=114"
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source_hash: "74b3b8edcc8a52d2bf59022753140aa58412c79f4f2c310579c133b9238dee0b"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-il"]
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---
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# Illinois SB 1667 (104th) — TRUST CODE-UNCLAIMED PROPERTY
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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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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **Introduced** (filed) — [source](https://ilga.gov/documents/legislation/104/SB/PDF/10400SB1667.pdf)
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2. **Engrossed** (committee substitute) — [source](https://ilga.gov/documents/legislation/104/SB/PDF/10400SB1667eng.pdf)
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3. **Senate Amendment 001** (committee substitute) — [source](https://ilga.gov/documents/legislation/104/SB/PDF/10400SB1667sam001.pdf)
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4. **Senate Amendment 002** (committee substitute) — [source](https://ilga.gov/documents/legislation/104/SB/PDF/10400SB1667sam002.pdf)
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5. **Senate Amendment 003** (committee substitute) — [source](https://ilga.gov/documents/legislation/104/SB/PDF/10400SB1667sam003.pdf)
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6. **Senate Amendment 004** (committee substitute) — [source](https://ilga.gov/documents/legislation/104/SB/PDF/10400SB1667sam004.pdf)
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7. **Senate Amendment 005** (committee substitute) — [source](https://ilga.gov/documents/legislation/104/SB/PDF/10400SB1667sam005.pdf)
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8. **Enrolled** (enrolled) — [source](https://ilga.gov/documents/legislation/104/SB/PDF/10400SB1667enr.pdf)
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## Votes
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- Third Reading — **73–40** (pass) · lower
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- Judiciary — **7–0** (pass) · upper
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- Judiciary, Amendment 5 — **8–0** (pass) · upper
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- Third Reading — **13–7** (pass) · lower
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- Judiciary, Amendment 4 — **8–0** (pass) · upper
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- Third Reading — **55–0** (pass) · upper
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## Sponsors
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- Diane Blair-Sherlock — primary (person)
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- Robert F. Martwick — primary (person)
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- Michael W. Halpin — cosponsor (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2025-02-05** Filed with Secretary by Sen. Robert F. Martwick `filing`
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- **2025-02-05** First Reading `reading-1`
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- **2025-02-05** Referred to Assignments
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- **2025-02-18** Assigned to Judiciary `referral-committee`
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- **2025-02-27** Postponed - Judiciary
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- **2025-03-04** Senate Committee Amendment No. 1 Filed with Secretary by Sen. Robert F. Martwick `amendment-introduction`
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- **2025-03-04** Senate Committee Amendment No. 1 Referred to Assignments
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- **2025-03-04** Added as Co-Sponsor Sen. Michael W. Halpin
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- **2025-03-06** Do Pass Judiciary; 007-000-000
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- **2025-03-06** Placed on Calendar Order of 2nd Reading March 18, 2025 `reading-2`
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- **2025-03-18** Second Reading `reading-2`
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- **2025-03-18** Placed on Calendar Order of 3rd Reading March 19, 2025
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- **2025-03-18** Senate Floor Amendment No. 2 Filed with Secretary by Sen. Robert F. Martwick `amendment-introduction`
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- **2025-03-18** Senate Floor Amendment No. 2 Referred to Assignments
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- **2025-03-19** Senate Floor Amendment No. 2 Assignments Refers to Judiciary
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- **2025-03-31** Senate Floor Amendment No. 3 Filed with Secretary by Sen. Robert F. Martwick `amendment-introduction`
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- **2025-03-31** Senate Floor Amendment No. 3 Referred to Assignments
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- **2025-04-01** Senate Floor Amendment No. 3 Assignments Refers to Judiciary
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- **2025-04-01** Senate Floor Amendment No. 4 Filed with Secretary by Sen. Robert F. Martwick `amendment-introduction`
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- **2025-04-01** Senate Floor Amendment No. 4 Referred to Assignments
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- **2025-04-02** Senate Floor Amendment No. 4 Assignments Refers to Judiciary
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- **2025-04-02** Senate Floor Amendment No. 2 Postponed - Judiciary
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- **2025-04-03** Senate Floor Amendment No. 4 Recommend Do Adopt Judiciary; 008-000-000
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- **2025-04-03** Senate Floor Amendment No. 5 Filed with Secretary by Sen. Robert F. Martwick `amendment-introduction`
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- **2025-04-03** Senate Floor Amendment No. 5 Referred to Assignments
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- **2025-04-08** Senate Floor Amendment No. 5 Assignments Refers to Judiciary
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- **2025-04-09** Senate Floor Amendment No. 5 Recommend Do Adopt Judiciary; 008-000-000
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- **2025-04-10** Recalled to Second Reading `reading-2`
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- **2025-04-10** Senate Floor Amendment No. 5 Adopted; Martwick `amendment-passage`
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- **2025-04-10** Placed on Calendar Order of 3rd Reading
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- **2025-04-10** Third Reading - Passed; 055-000-000 `passage, reading-3`
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- **2025-04-10** Senate Committee Amendment No. 1 Tabled Pursuant to Rule 5-4(a) `amendment-failure`
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- **2025-04-10** Senate Floor Amendment No. 2 Tabled Pursuant to Rule 5-4(a) `amendment-failure`
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- **2025-04-10** Senate Floor Amendment No. 3 Tabled Pursuant to Rule 5-4(a) `amendment-failure`
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- **2025-04-10** Senate Floor Amendment No. 4 Tabled Pursuant to Rule 5-4(a) `amendment-failure`
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- **2025-04-10** Arrived in House `introduction`
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- **2025-04-10** Chief House Sponsor Rep. Diane Blair-Sherlock
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- **2025-04-11** First Reading `reading-1`
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- **2025-04-11** Referred to Rules Committee
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- **2025-04-17** Assigned to Judiciary - Civil Committee `referral-committee`
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- **2025-04-30** Do Pass / Short Debate Judiciary - Civil Committee; 013-007-000
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- **2025-04-30** Placed on Calendar 2nd Reading - Short Debate `reading-2`
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- **2025-05-14** Second Reading - Short Debate `reading-2`
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- **2025-05-14** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2025-05-20** Third Reading - Short Debate - Passed 073-040-000 `passage, reading-3`
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- **2025-05-20** Passed Both Houses
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- **2025-06-18** Sent to the Governor `executive-receipt`
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- **2025-08-01** Governor Approved `executive-signature`
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- **2025-08-01** Effective Date January 1, 2026
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- **2025-08-01** Public Act . . . . . . . . . 104-0116 `became-law`
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/e65f5e68-9f48-49ea-8a2f-55f121b3ea7a`. Confidence: reported (aggregated from official Illinois legislature records).
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