SB1667Introduced in the Senate
TRUST CODE-UNCLAIMED PROPERTY
Introduced by Robert Martwick, District 10
What does this bill do?
Plain-English breakdown
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Official 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.
Where it stands
Public Act . . . . . . . . . 104-0116
August 1, 2025
How did lawmakers vote?
House votes
2 recorded votes · each counted separately
Senate votes
4 recorded votes · each counted separately
HouseStage: Third Reading in House · May 20, 2025
73
Yes
40
No
1
Absent or Not Voting
114 representatives recorded in this House vote. Colors show vote categories only, not whether a vote was good or bad.
What do people think?
Citizen Voice
How would you vote on this bill?
An unofficial public opinion poll. It does not affect the bill or the official vote.
One response per device. Location is self-reported and not verified. Results are informal and not a scientific survey.
See how each representative voted
| Representative | District | Vote |
|---|---|---|
| Aaron Ortiz | 1 | Yes |
| Elizabeth Hernandez | 2 | Yes |
| Eva Dina Delgado | 3 | Yes |
| Lilian Jimenez | 4 | Yes |
| Kimberly Du Buclet | 5 | Yes |
| Sonya Harper | 6 | Yes |
| Emanuel Welch | 7 | Yes |
| LaShawn Ford | 8 | Yes |
| Yolanda Morris | 9 | Yes |
| Jawaharial Williams | 10 | Yes |
Bill history
Filed with Secretary by Sen. Robert F. Martwick
First Reading
Referred to Assignments
Assigned to Judiciary
Postponed - Judiciary
Senate Committee Amendment No. 1 Filed with Secretary by Sen. Robert F. Martwick
Senate Committee Amendment No. 1 Referred to Assignments
Added as Co-Sponsor Sen. Michael W. Halpin
Do Pass Judiciary; 007-000-000
Placed on Calendar Order of 2nd Reading March 18, 2025
Second Reading
Placed on Calendar Order of 3rd Reading March 19, 2025
Senate Floor Amendment No. 2 Filed with Secretary by Sen. Robert F. Martwick
Senate Floor Amendment No. 2 Referred to Assignments
Senate Floor Amendment No. 2 Assignments Refers to Judiciary
Senate Floor Amendment No. 3 Filed with Secretary by Sen. Robert F. Martwick
Senate Floor Amendment No. 3 Referred to Assignments
Senate Floor Amendment No. 3 Assignments Refers to Judiciary
Senate Floor Amendment No. 4 Filed with Secretary by Sen. Robert F. Martwick
Senate Floor Amendment No. 4 Referred to Assignments
Senate Floor Amendment No. 4 Assignments Refers to Judiciary
Senate Floor Amendment No. 2 Postponed - Judiciary
Senate Floor Amendment No. 4 Recommend Do Adopt Judiciary; 008-000-000
Senate Floor Amendment No. 5 Filed with Secretary by Sen. Robert F. Martwick
Senate Floor Amendment No. 5 Referred to Assignments
Senate Floor Amendment No. 5 Assignments Refers to Judiciary
Senate Floor Amendment No. 5 Recommend Do Adopt Judiciary; 008-000-000
Recalled to Second Reading
Senate Floor Amendment No. 5 Adopted; Martwick
Placed on Calendar Order of 3rd Reading
Third Reading - Passed; 055-000-000
Senate Committee Amendment No. 1 Tabled Pursuant to Rule 5-4(a)
Senate Floor Amendment No. 2 Tabled Pursuant to Rule 5-4(a)
Senate Floor Amendment No. 3 Tabled Pursuant to Rule 5-4(a)
Senate Floor Amendment No. 4 Tabled Pursuant to Rule 5-4(a)
Arrived in House
Chief House Sponsor Rep. Diane Blair-Sherlock
First Reading
Referred to Rules Committee
Assigned to Judiciary - Civil Committee
Do Pass / Short Debate Judiciary - Civil Committee; 013-007-000
Placed on Calendar 2nd Reading - Short Debate
Second Reading - Short Debate
Placed on Calendar Order of 3rd Reading - Short Debate
Third Reading - Short Debate - Passed 073-040-000
Passed Both Houses
Sent to the Governor
Governor Approved
Effective Date January 1, 2026
Public Act . . . . . . . . . 104-0116
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