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CaliforniaSB 8222025-2026 Regular SessionSenateWALLET

Civil Procedure: unclaimed property.

Sponsored By: Josh Becker (Democratic)

Signed by Governor

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Bill Overview

Analyzed Economic Effects

4 provisions identified: 1 benefits, 0 costs, 3 mixed.

Crypto now under unclaimed property rules

Digital financial assets, like crypto, are now covered by California’s unclaimed property law. A business-held asset escheats after three years with no owner activity, starting from a returned notice or your last account action. Logging in, making a transaction, or other clear activity restarts the three‑year clock. The law defines what a digital financial asset is and what a private key means. Your last known address in the holder’s records decides which state can claim the asset.

State custody and sale of crypto

If your crypto escheats, the State Controller uses licensed custodians to hold it. A holder with only part of the keys must try to get the missing keys within 60 days after deciding the asset is eligible for escheat. The Controller can convert digital assets to dollars between 18 and 20 months after the report is filed. If sold, you get the net proceeds when you claim; if still held, you can get the digital asset back.

Advance notices help you keep crypto

Holders must send certified mail 6 to 12 months before your asset is reportable. If they have no mailing address and you agreed, they can send electronic notice. Returning the Controller’s form, or making documented phone or electronic contact, restarts the three‑year clock. Holders may send extra notices before any transfer to the state.

Defines residuals for unclaimed pay

The law defines residuals as union‑required extra pay for domestic or foreign use of recorded materials. This label applies under unclaimed property rules when holders report or return unclaimed residual payments.

Sponsors & Cosponsors

Sponsor

  • Josh Becker

    Democratic • Senate

Cosponsors

  • Avelino Valencia

    Democratic • House

Roll Call Votes

All Roll Calls

Yes: 213 • No: 0

Senate vote • 9/13/2025

Item 137 — Senate SFLOOR

Yes: 37 • No: 0

House vote • 9/12/2025

Item 69 — Assembly AFLOOR

Yes: 80 • No: 0

legislature vote • 8/29/2025

Vote in CX25

Yes: 11 • No: 0

legislature vote • 7/14/2025

Vote in CX27

Yes: 9 • No: 0

legislature vote • 7/1/2025

Vote in CX13

Yes: 12 • No: 0

Senate vote • 5/29/2025

Item 352 — Senate SFLOOR

Yes: 38 • No: 0

legislature vote • 5/23/2025

Vote in CS61

Yes: 6 • No: 0

legislature vote • 5/5/2025

Vote in CS61

Yes: 7 • No: 0

legislature vote • 4/22/2025

Vote in CS53

Yes: 13 • No: 0

Actions Timeline

  1. Chaptered by Secretary of State. Chapter 660, Statutes of 2025.

    10/11/2025Senate

  2. Approved by the Governor.

    10/11/2025legislature

  3. Enrolled and presented to the Governor at 2 p.m.

    9/23/2025legislature

  4. Assembly amendments concurred in. (Ayes 37. Noes 0. Page 3029.) Ordered to engrossing and enrolling.

    9/13/2025Senate

  5. In Senate. Concurrence in Assembly amendments pending.

    9/12/2025Senate

  6. Read third time. Passed. (Ayes 80. Noes 0. Page 3406.) Ordered to the Senate.

    9/12/2025House

  7. Ordered to third reading.

    9/5/2025House

  8. Read third time and amended.

    9/5/2025House

  9. Assembly Rule 69(b)(1) suspended.

    9/5/2025House

  10. Ordered to third reading.

    9/3/2025House

  11. Read third time and amended.

    9/3/2025House

  12. Read second time. Ordered to third reading.

    9/3/2025House

  13. Read second time and amended. Ordered to second reading.

    9/2/2025House

  14. From committee: Do pass as amended. (Ayes 11. Noes 0.) (August 29).

    8/29/2025House

  15. August 20 set for first hearing. Placed on APPR. suspense file.

    8/20/2025House

  16. Read second time and amended. Re-referred to Com. on APPR.

    7/16/2025House

  17. From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 9. Noes 0.) (July 14).

    7/15/2025House

  18. July 7 set for first hearing canceled at the request of author.

    7/7/2025House

  19. From committee: Do pass and re-refer to Com. on B. & F. with recommendation: To consent calendar. (Ayes 12. Noes 0.) (July 1). Re-referred to Com. on B. & F.

    7/2/2025House

  20. From committee with author's amendments. Read second time and amended. Re-referred to Com. on JUD.

    6/23/2025House

  21. June 24 set for second hearing canceled at the request of author.

    6/13/2025House

  22. June 17 set for first hearing canceled at the request of author.

    6/11/2025House

  23. Referred to Com. on JUD.

    6/5/2025House

  24. In Assembly. Read first time. Held at Desk.

    5/29/2025House

  25. Read third time. Passed. (Ayes 38. Noes 0. Page 1330.) Ordered to the Assembly.

    5/29/2025Senate

Bill Text

  • Chaptered

    10/11/2025

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  • Enrolled

    9/18/2025

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  • Amended Assembly

    9/5/2025

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  • Amended Assembly

    9/3/2025

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  • Amended Assembly

    9/2/2025

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  • Amended Assembly

    7/16/2025

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  • Amended Assembly

    6/23/2025

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  • Amended Senate

    4/10/2025

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  • Amended Senate

    3/25/2025

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  • Introduced

    2/21/2025

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