Bill Status of HB 4748   97th General Assembly

Short Description:  CIVIL LAW-TECH

House Sponsors
Rep. Raymond Poe

Senate Sponsors
(Sen. Ron Sandack)


Last Action  View All Actions

DateChamber Action
  8/10/2012HousePublic Act . . . . . . . . . 97-0935

Statutes Amended In Order of Appearance
765 ILCS 1025/1from Ch. 141, par. 101

Synopsis As Introduced
Amends the Uniform Disposition of Unclaimed Property Act. Makes a technical change in a Section concerning definitions.

House Committee Amendment No. 1
Deletes reference to:
765 ILCS 1025/1
Adds reference to:
30 ILCS 105/6ufrom Ch. 127, par. 142u
30 ILCS 105/5.65 rep.
765 ILCS 1025/1.5 new

Replaces everything after the enacting clause. Amends the State Finance Act. Provides that all money returned to the State Treasurer by the paying agent for any State bonds or interest coupons by reason of the failure of the holder to present such bonds or coupons for payment within 2 years after maturity shall be deposited in the Unclaimed Property Trust Fund (rather than the Matured Bond and Coupon Fund), and makes conforming changes. Provides that the Treasurer shall transfer all unobligated and unexpended moneys remaining in the Matured Bond and Coupon Fund into the Unclaimed Property Trust Fund within 60 days after the effective date of the amendatory Act. Deletes language providing that, whenever the State Treasurer and the State Comptroller determine that any such matured bonds or coupons will, in all likelihood, never be presented for payment, they shall transfer the amount represented by such bonds or coupons to the General Revenue Fund. Repeals the provision of the State Finance Act that creates the Matured Bond and Coupon Fund. Amends the Uniform Disposition of Unclaimed Property Act. Provides that the Act applies to all money returned to the Treasurer by the paying agent for any State bonds or interest coupons by reason of the failure of the holder to present such bonds or coupons for payment within 2 years after maturity. Effective immediately, except that the repeal of the provision of the State Finance Act that creates the Matured Bond and Coupon Fund is effective 60 days after becoming law.

Actions 
DateChamber Action
  2/3/2012HouseFiled with the Clerk by Rep. Tom Cross
  2/3/2012HouseFirst Reading
  2/3/2012HouseReferred to Rules Committee
  2/29/2012HouseAssigned to Executive Committee
  3/1/2012HouseChief Sponsor Changed to Rep. Raymond Poe
  3/1/2012HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Raymond Poe
  3/1/2012HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  3/5/2012HouseHouse Committee Amendment No. 1 Rules Refers to Executive Committee
  3/6/2012HouseMotion Filed to Suspend Rule 25 Executive Committee; Rep. Barbara Flynn Currie
  3/6/2012HouseMotion to Suspend Rule 25 - Prevailed by Voice Vote
  3/8/2012HouseHouse Committee Amendment No. 1 Adopted in Executive Committee; by Voice Vote
  3/8/2012HouseDo Pass as Amended / Short Debate Executive Committee; 010-000-000
  3/9/2012HousePlaced on Calendar 2nd Reading - Short Debate
  3/21/2012HouseSecond Reading - Short Debate
  3/21/2012HousePlaced on Calendar Order of 3rd Reading - Short Debate
  3/22/2012HouseThird Reading - Short Debate - Passed 109-000-000
  3/22/2012SenateArrive in Senate
  3/22/2012SenatePlaced on Calendar Order of First Reading March 23, 2012
  3/23/2012SenateChief Senate Sponsor Sen. Ron Sandack
  3/23/2012SenateFirst Reading
  3/23/2012SenateReferred to Assignments
  4/11/2012SenateAssigned to Financial Institutions
  4/19/2012SenateDo Pass Financial Institutions; 007-000-000
  4/19/2012SenatePlaced on Calendar Order of 2nd Reading April 24, 2012
  5/2/2012SenateSecond Reading
  5/2/2012SenatePlaced on Calendar Order of 3rd Reading May 3, 2012
  5/17/2012SenateThird Reading - Passed; 056-000-000
  5/17/2012HousePassed Both Houses
  6/15/2012HouseSent to the Governor
  8/10/2012HouseGovernor Approved
  8/10/2012HouseEffective Date August 10, 2012
  8/10/2012HousePublic Act . . . . . . . . . 97-0935

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