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IL SB3174

Bill

Status

Passed

5/13/2022

Primary Sponsor

Sara Feigenholtz

Click for details

Origin

Senate

102nd General Assembly

AI Summary

  • Increases the threshold for automatic property delivery without a formal claim from $2,000 to $5,000 when property owners are matched through Department of Revenue or Secretary of State/Board of Elections databases.

  • Raises the maximum value for heirs or agents to use an affidavit in lieu of a certified will copy from $100 to $250 for unclaimed property claims of decedents.

  • Allows administrators to accept alternative evidence of death instead of requiring a decedent's death certificate when heirs submit affidavits for small estates.

  • Expands use of state databases (Department of Revenue, Secretary of State, Board of Elections) to identify and match abandoned property owners for automatic delivery of funds without requiring formal claims.

Legislative Description

RUUPA-PROP AMOUNT-AFFIDAVIT

Last Action

Public Act . . . . . . . . . 102-0835

5/13/2022

Committee Referrals

Revenue & Finance3/7/2022
Rules2/17/2022
Judiciary1/26/2022
Assignments1/12/2022

Full Bill Text

No bill text available