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District of ColumbiaB26-0032Council Period 26 (2025-2026)HouseWALLET

Uniform Special Deposits Act of 2025

Sponsored By: Sponsor information unavailable

Signed by Governor

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Bill Overview

Analyzed Economic Effects

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

Five-year end date for deposits

A special deposit ends five years after it was first funded unless the account says otherwise. If the bank cannot find an entitled beneficiary at that time, it must pay any remaining balance to the depositor(s) as beneficiaries. After that payment, the bank has no further duty for the deposit.

How banks pay and what is protected

The bank must pay a beneficiary when there are enough finally collected funds, unless the account says otherwise. If funds are short, a beneficiary can choose the available money or a pro rata share. Courts can block payment only to prevent material fraud, and creditors cannot garnish the deposit unless they properly serve the bank and the bank already owes payment. Banks generally cannot set off this money, except for narrow, agreed debits like fees, direct costs, or when funding a required payment. Holding the deposit does not make the bank a fiduciary, damages are limited to direct losses, and no one owns the deposit itself—only a right to payment when due.

Who qualifies for special deposit accounts

The law sets when an account is a special deposit. It must name at least two beneficiaries, use government‑backed money, state a permitted purpose, and be tied to a condition. Parties can choose D.C. as the forum, and these rules apply even without other ties to D.C. Key protections cannot be waived by contract, but a deposit must keep serving a permitted purpose or new funds lose these protections and the bank may end it. Older accounts are covered only if all parties amend them to opt in, and other D.C. laws fill gaps while courts aim for uniform rules across states.

Sponsors & Cosponsors

Sponsors

There is no primary sponsor on record.

Cosponsors

  • Phil Mendelson

    Democratic • House

Roll Call Votes

All Roll Calls

Yes: 26 • No: 0

House vote • 11/4/2025

Final Reading, CC

Yes: 13 • No: 0

House vote • 10/21/2025

First Reading, CC

Yes: 13 • No: 0

Actions Timeline

  1. Law L26-0084, Effective from Feb 03, 2026 Published in DC Register Vol 73 and Page 002674

    2/27/2026House

  2. Transmitted to Congress

    12/16/2025House

  3. Act A26-0201 Published in DC Register Vol 72 and Page 013482

    12/5/2025House

  4. Returned from Mayor

    11/25/2025House

  5. Signed by the Mayor and Enacted with Act Number A26-0201

    11/24/2025House

  6. Transmitted to Mayor, Response Due on Dec 02, 2025

    11/17/2025House

  7. Legislative Meeting

    11/4/2025House

  8. Legislative Meeting

    10/21/2025House

  9. Committee Mark-up of B26-0032 by the Business and Economic Development Committee

    10/15/2025House

  10. Public Hearing on B26-0032

    3/20/2025House

  11. Notice of Public Hearing Published in the District of Columbia Register

    3/7/2025House

  12. Notice of Public Hearing filed in the Office of Secretary by Business and Economic Development

    2/26/2025House

  13. Notice of Intent to Act on B26-0032 Published in the District of Columbia Register

    1/24/2025House

  14. Referred to Committee on Business and Economic Development

    1/21/2025House

  15. B26-0032 Introduced by Chairman Mendelson at Office of the Secretary

    1/7/2025House

Bill Text

  • Enrollment

    11/4/2025

    PDF

  • Engrossment

    10/21/2025

    PDF

  • Introduced

    1/7/2025

    PDF

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