# Illinois SB1667: TRUST CODE-UNCLAIMED PROPERTY Illinois SB1667, TRUST CODE-UNCLAIMED PROPERTY, is a 104th General Assembly (2025–2026) Senate bill sponsored by Robert F. Martwick (Democratic); status signed, last action 2025-08-01 (Public Act . . . . . . . . . 104-0116); PRIA reads it as touching household money (as of 2026-11-01). - Canonical: https://policyrisk.com/state-bill/IL-SB1667-2025-2026 - As of: 2026-11-01 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Illinois SB1667 - State: Illinois - Session: 104th General Assembly (2025–2026) - Title: TRUST CODE-UNCLAIMED PROPERTY - Status: signed - Chamber: Senate - Introduced: 2025-02-05 - Last action: 2025-08-01, Public Act . . . . . . . . . 104-0116 - Sponsor: Robert F. Martwick (Democratic) - Cosponsors: 2 - Subjects: assignments, judiciary, judiciary - civil - Touches household money: yes - Roll calls: 6 (164 yes, 47 no in all) - Economic provisions PRIA read: 8 ## Summary 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. ## Bill overview: provisions PRIA read - Trustees must search for unclaimed assets: benefit, low. Trustees must include unclaimed-property searches in their reasonable steps to protect trust assets and claim property when practical. Before a trust ends, the trustee must reasonably search for trust property already sent to a state unclaimed property administrator. Trustees must also keep, or arr… - Abandoned assets must be kept separate: benefit, low. Once property is presumed abandoned, its holder holds it in trust for the state administrator on the owner’s behalf. The holder must use trust accounts or otherwise keep the property separate until delivery. This rule excludes property held by insurance companies. It also excludes property insured… - Earlier state handling of dormant accounts: benefit, low. For covered tax-deferred accounts, including covered health savings accounts, the account-age trigger drops from 30 years to 20 years. Property is presumed abandoned after 3 unclaimed years following the earlier of the applicable required-distribution date or that 20-year mark. In year 10, holders… - Fee limits for unclaimed property recovery: benefit, low. Paid recovery agreements must be recorded and signed, describe the property and services, and show expected recovery before and after fees. They must explain that the state holds the property, recovery is free, and how to contact the state directly. Agreements signed from presumed abandonment throu… - Deadlines for paying deceased state workers: benefit, low. Illinois state agencies must pay money owed to a deceased employee to the heirs or estate within 1 year of death. Agencies must report and send any remaining unpaid money to the State Treasurer within the next 90 days. The unclaimed property administrator must promptly send notice to the employee’s… - State can collect abandoned property sooner: benefit, low. Illinois’ financial regulation secretary can order covered regulated people or businesses to report and send property immediately to protect owners. This allows transfers before the usual waiting period ends. Covered holders can also transfer property early with the secretary’s written permission a… - Unclaimed agency assets fund state operations: benefit, low. Abandoned property reasonably believed to belong to a state agency transfers to Illinois’ General Revenue Fund after required notice. The administrator must first notify the agency and the Governor’s budget office. More than 1 year must pass without the agency filing a claim or expressing interest.… - Property finders face licensing and penalties: mixed, low. Beginning January 1, 2026, property finders must hold a current Illinois license, subject to limited attorney and CPA-firm exceptions. Applicants must meet character and legal-knowledge standards; individual applicants must be at least 21. Applications require fees, background-check authorization,… ## Sponsors and cosponsors - Sponsor: Robert F. Martwick (Democratic), Senate - Cosponsor: Diane Blair-Sherlock (Democratic), House - Cosponsor: Michael W. Halpin (Democratic), Senate ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2025-05-20 | House | Third Reading - Short Debate - Passed | pass | 73 | 40 | | | 2025-04-30 | House | Do Pass / Short Debate Judiciary - Civil Committee; | pass | 13 | 7 | | | 2025-04-10 | Senate | Third Reading - Passed; | pass | 55 | 0 | | | 2025-04-09 | Senate | Senate Floor Amendment No. 5 Recommend Do Adopt Judiciary; | pass | 8 | 0 | | | 2025-04-03 | Senate | Senate Floor Amendment No. 4 Recommend Do Adopt Judiciary; | pass | 8 | 0 | | | 2025-03-06 | Senate | Do Pass Judiciary; | pass | 7 | 0 | | ## Actions (50) - 2025-08-01: Public Act . . . . . . . . . 104-0116 (Senate) - 2025-08-01: Effective Date January 1, 2026 (Senate) - 2025-08-01: Governor Approved (Senate) - 2025-06-18: Sent to the Governor (Senate) - 2025-05-20: Passed Both Houses (Senate) - 2025-05-20: Third Reading - Short Debate - Passed 073-040-000 (House) - 2025-05-14: Placed on Calendar Order of 3rd Reading - Short Debate (House) - 2025-05-14: Second Reading - Short Debate (House) - 2025-04-30: Placed on Calendar 2nd Reading - Short Debate (House) - 2025-04-30: Do Pass / Short Debate Judiciary - Civil Committee; 013-007-000 (House) - 2025-04-17: Assigned to Judiciary - Civil Committee (House) - 2025-04-11: Referred to Rules Committee (House) - 2025-04-11: First Reading (House) - 2025-04-10: Chief House Sponsor Rep. Diane Blair-Sherlock (House) - 2025-04-10: Arrived in House (House) - 2025-04-10: Senate Floor Amendment No. 4 Tabled Pursuant to Rule 5-4(a) (Senate) - 2025-04-10: Senate Floor Amendment No. 3 Tabled Pursuant to Rule 5-4(a) (Senate) - 2025-04-10: Senate Floor Amendment No. 2 Tabled Pursuant to Rule 5-4(a) (Senate) - 2025-04-10: Senate Committee Amendment No. 1 Tabled Pursuant to Rule 5-4(a) (Senate) - 2025-04-10: Third Reading - Passed; 055-000-000 (Senate) - 2025-04-10: Placed on Calendar Order of 3rd Reading (Senate) - 2025-04-10: Senate Floor Amendment No. 5 Adopted; Martwick (Senate) - 2025-04-10: Recalled to Second Reading (Senate) - 2025-04-09: Senate Floor Amendment No. 5 Recommend Do Adopt Judiciary; 008-000-000 (Senate) - 2025-04-08: Senate Floor Amendment No. 5 Assignments Refers to Judiciary (Senate) - 2025-04-03: Senate Floor Amendment No. 5 Referred to Assignments (Senate) - 2025-04-03: Senate Floor Amendment No. 5 Filed with Secretary by Sen. Robert F. Martwick (Senate) - 2025-04-03: Senate Floor Amendment No. 4 Recommend Do Adopt Judiciary; 008-000-000 (Senate) - 2025-04-02: Senate Floor Amendment No. 2 Postponed - Judiciary (Senate) - 2025-04-02: Senate Floor Amendment No. 4 Assignments Refers to Judiciary (Senate) - 2025-04-01: Senate Floor Amendment No. 4 Referred to Assignments (Senate) - 2025-04-01: Senate Floor Amendment No. 4 Filed with Secretary by Sen. Robert F. Martwick (Senate) - 2025-04-01: Senate Floor Amendment No. 3 Assignments Refers to Judiciary (Senate) - 2025-03-31: Senate Floor Amendment No. 3 Referred to Assignments (Senate) - 2025-03-31: Senate Floor Amendment No. 3 Filed with Secretary by Sen. Robert F. Martwick (Senate) - 2025-03-19: Senate Floor Amendment No. 2 Assignments Refers to Judiciary (Senate) - 2025-03-18: Senate Floor Amendment No. 2 Referred to Assignments (Senate) - 2025-03-18: Senate Floor Amendment No. 2 Filed with Secretary by Sen. Robert F. Martwick (Senate) - 2025-03-18: Placed on Calendar Order of 3rd Reading March 19, 2025 (Senate) - 2025-03-18: Second Reading (Senate) - 2025-03-06: Placed on Calendar Order of 2nd Reading March 18, 2025 (Senate) - 2025-03-06: Do Pass Judiciary; 007-000-000 (Senate) - 2025-03-04: Added as Co-Sponsor Sen. Michael W. Halpin (Senate) - 2025-03-04: Senate Committee Amendment No. 1 Referred to Assignments (Senate) - 2025-03-04: Senate Committee Amendment No. 1 Filed with Secretary by Sen. Robert F. Martwick (Senate) - 2025-02-27: Postponed - Judiciary (Senate) - 2025-02-18: Assigned to Judiciary (Senate) - 2025-02-05: Referred to Assignments (Senate) - 2025-02-05: First Reading (Senate) - 2025-02-05: Filed with Secretary by Sen. Robert F. Martwick (Senate) ## Bill text - Engrossed: [PDF](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB1667eng.pdf) - Enrolled: [PDF](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB1667enr.pdf) - Introduced: [PDF](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB1667.pdf) - Senate Amendment 1: [PDF](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB1667sam001.pdf) - Senate Amendment 2: [PDF](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB1667sam002.pdf) - Senate Amendment 3: [PDF](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB1667sam003.pdf) - Senate Amendment 4: [PDF](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB1667sam004.pdf) - Senate Amendment 5: [PDF](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB1667sam005.pdf) ## Related bills - HB5198: AFFORDABLE HOUSING-CILAS (passed house) - SB1937: PENSION CODE-VARIOUS (passed senate) - HB2563: CONDO-RESERVE STUDY (in committee) - HB4701: LIMITATIONS FACILITY FEES ACT (in committee) - SB3008: DHS-ABLE PROGRAM INFO MATERIAL (passed senate) - SB3484: VEH CD-PLATES-REGISTRATION (signed) ## Sources - [Engrossed (PDF)](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB1667eng.pdf) - [Enrolled (PDF)](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB1667enr.pdf) - [Introduced (PDF)](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB1667.pdf) - [Senate Amendment 1 (PDF)](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB1667sam001.pdf) - [Senate Amendment 2 (PDF)](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB1667sam002.pdf) - [Senate Amendment 3 (PDF)](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB1667sam003.pdf) - [Senate Amendment 4 (PDF)](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB1667sam004.pdf) - [Senate Amendment 5 (PDF)](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB1667sam005.pdf) ## Related - [HB5198: AFFORDABLE HOUSING-CILAS](https://policyrisk.com/state-bill/IL-HB5198-2025-2026) - [SB1937: PENSION CODE-VARIOUS](https://policyrisk.com/state-bill/IL-SB1937-2025-2026) - [HB2563: CONDO-RESERVE STUDY](https://policyrisk.com/state-bill/IL-HB2563-2025-2026) - [HB4701: LIMITATIONS FACILITY FEES ACT](https://policyrisk.com/state-bill/IL-HB4701-2025-2026) - [SB3008: DHS-ABLE PROGRAM INFO MATERIAL](https://policyrisk.com/state-bill/IL-SB3008-2025-2026) - [SB3484: VEH CD-PLATES-REGISTRATION](https://policyrisk.com/state-bill/IL-SB3484-2025-2026) - [Illinois bills](https://policyrisk.com/states/illinois/bills) - [Illinois state hub](https://policyrisk.com/states/illinois) - [All state legislation](https://policyrisk.com/state-bills) Source: PRIA, https://policyrisk.com/state-bill/IL-SB1667-2025-2026 (as of 2026-11-01).