IL SB1470

Amends the Uniform Disposition of Unclaimed Property Act to require property holders to use gender-neutral language ("or she") when referring to the State Treasurer and property owners throughout Section 11.

Adds a new subsection (e)(2) requiring holders with unclaimed property valued at $1,000 or more to send notice by certified mail with return receipt requested at least 60 days before the annual reporting deadline, with a signed receipt rebuting the presumption of abandonment.

Allows the State Treasurer to adopt rules permitting holders to deduct reasonable costs incurred in sending required notices to owners under the new certified mail provision.

Maintains existing reporting requirements and deadlines for different entity types: banking and financial organizations must file by November 1 based on June 30 data, while business associations, utilities, and life insurance corporations must file by May 1 based on December 31 data.

Effective January 1, 2018.