SB 9 — BUDGET ECON STABILIZ/VIDEO TAX

The amount directed to be transferred may not exceed the limits set forth in subsection (c) of this Section.

The Governor may direct a transfer from the Budget Economic Stabilization Fund to any of the general funds only if:

he or she estimates that general funds revenue collections for the current fiscal year will be less than the general funds revenue collections as estimated at the time of enactment of appropriations for the current fiscal year;

the transfer is necessary to provide for the health, safety, and welfare of the people of the State of Illinois;

and the funds transferred are to be spent within previously enacted appropriations.

SB0009 Engrossed - 6 - LRB100 06347 HLH 16385 b (b) In addition to transfers directed by the Governor within a fiscal year, transfers or appropriations from the Budget Economic Stabilization Fund for the current or next fiscal year may be made by vote of the General Assembly if:

(1) the General Assembly projects that general funds revenue collections for the current or next fiscal year are less than the general funds revenue collections as estimated at the time of enactment of appropriations for the current fiscal year for the preceding year;

(2) the General Assembly finds that general funds revenue collections have remained stagnant or dropped during 2 consecutive fiscal quarters within the preceding 12 months as compared to the corresponding 2 fiscal quarters of the prior fiscal year;

or (3) that the State Coincident Index for the State of Illinois has remained stagnant or dropped over 2 consecutive quarters within the preceding 12 months, as published in the Federal Reserve Bank of Philadelphia's publication entitled "State Coincident Indexes" or its successor publication.

(c) Transfers or appropriations from the Budget Economic Stabilization Fund may not, during any fiscal year, exceed the lesser of:

(1) 50% of the Budget Economic Stabilization Fund's balance;

(2) in the case of appropriation enacted by the General SB0009 Engrossed - 7 - LRB100 06347 HLH 16385 b Assembly, 50% of the difference between (i) general funds revenue collections, as projected by the Commission on Government Forecasting and Accountability to be received in the next fiscal year, and (ii) a revised general fund revenue collections projection for the current fiscal year presented to the General Assembly by the Commission on Government Forecasting and Accountability;

or (3) in the case of transfers to be directed by the Governor within a fiscal year, 50% of the difference between (i) general funds revenue collections, to be received in the next fiscal year as projected by the Governor, and (ii) a revised general fund revenue collections projection for the current fiscal year as projected by the Governor.

Section 5-35.

Fund creation.

(a) There is created the Budget Economic Stabilization Fund as a special fund in the State Treasury consisting of moneys appropriated or transferred to that Fund as provided in Section 5-30 of this Act and as otherwise provided by law.

All earnings on Budget Economic Stabilization Fund investments shall be deposited into that Fund.

(b) There is created the Bill Backlog Payment Fund as a special fund in the State Treasury consisting of moneys appropriated or transferred to that Fund as provided in Section -25 of this Act and as otherwise provided by law.

All earnings SB0009 Engrossed - 8 - LRB100 06347 HLH 16385 b on Bill Backlog Payment Fund investments shall be deposited into that Fund.

ARTICLE 10.

VIDEO SERVICE TAX MODERNIZATION Section 10-1.

Short title.

This Act may be cited as the Video Service Tax Modernization Act.

Section 10-5.

Application.

This Act applies to the provision of direct-to-home satellite service, direct broadcast satellite service, and digital audio-visual works on or after the effective date of this Act.

This Act does not apply to:

(1) satellite radio service or subscription radio service whereby a digital radio signal is broadcast without any corresponding or related video programming or services;

or (2) a satellite television transmission of simulcast horse races broadcast from or received at locations operated by an organization licensee, an inter-track wagering licensee, or an inter-track wagering location licensee licensed under the Illinois Horse Racing Act of 1975.

Section 10-10.

Definitions.

As used in this Act:

"Digital"Final audio-visualtax works"liability" means aany seriesState oftax, relatedfee, imagespenalty, that,or wheninterest shownowed inby succession,a impartperson anto impressionthe ofDepartment SB0009where Engrossedthe -assessment 9of -the LRB100liability 06347is HLHnot 16385subject b motion, together with accompanying sounds, if any, sold to anany endfurther usertimely withfiled rightsadministrative ofor lessjudicial thanreview. permanent use.

"Digital"Last-known audio-visualaddress works"of doesthe notdebtor" includemeans cablethe serviceaddress providedof bythe adebtor cableappearing operator,in asthe thoserecords termsof arethe definedDepartment at the time the notice of tax lien is filed in 47the U.S.C.registry.

522,"Person" andmeans doesany notnatural includeindividual, videofirm, servicepartnership, providedassociation, byjoint astock holder,company, asjoint thoseadventure, termspublic areor definedprivate incorporation, Articlelimited 21liability ofcompany, theor Publica Utilitiesreceiver, Act.executor, trustee, guardian or other representative appointed by order of any court.

"Direct"Registry" broadcast satellite service" means video services transmitted or broadcast"State byTax satelliteLien directlyRegistry" tomeans the subscriber'spublic premisesdatabase withmaintained the use of or accompanied by groundthe receivingDepartment orwherein distributiontax equipment,liens including,are butfiled not limited to, infrastructure to provide Internet access used in thefavor transmission or broadcast of such video services, at the subscriber's premises, but not in the uplink process to the satellite, and includes,enforced butby is not limited to, the retransmissionDepartment. of local broadcast television, the provision of premium channels, other recurring monthly services, service and pay-per-view, video-on-demand, and other event-based services.

"Direct-to-homeSB0009 satelliteEnrolled service"- has3 the- meaningLRB100 given06347 toHLH that16385 termb inSection Public1-15. Law No.

104-104,Registry Titleestablished. VI, Section 602(a), February 8, 1996, 110 Stat.

144(a) (reprintedThe atDepartment 47shall U.S.C.establish and maintain a public database known as the State Tax Lien Registry.

152).If any person neglects or refuses to pay any final tax liability, the Department may file in the registry a notice of tax lien within 3 years from the date of the final tax liability.

"End(b) user"The meansnotice any person other than a person who receives by contract a product transferred electronically for further commercial broadcast, rebroadcast, transmission, SB0009 Engrossed - 10 - LRB100 06347 HLH 16385 b retransmission, licensing, relicensing, distribution, redistribution, or exhibition of thetax product,lien infile wholeshall orinclude: in part, to another person or persons.

"Gross(1) revenue"the meansname alland considerationlast-known ofaddress any kind or nature received by a provider, or an affiliate of the provider,debtor; in connection with the provision of direct-to-home satellite service, direct broadcast satellite service, or digital audio-visual works to subscribers.

"Gross(2) revenue"the doesname notand include:address of the Department;

(1)(3) charges for the rentaltax oflien equipmentnumber relatedassigned to the provisionlien ofby direct-to-homethe satelliteDepartment; service, direct broadcast satellite service, or digital audiovisual works;

(2)and activation,(4) installation,the repair,basis orfor maintenancethe chargestax orlien, similarincluding, servicebut chargesnot relatedlimited toto, the provisionamount ofowed direct-to-homeby satellitethe service,debtor directas broadcastof satellitethe service,date orof digitalfiling audio-visualin works;the tax lien registry.

(3)Section service1-20. order charges, service termination charges, or any other administrative charges related to the provision of direct-to-home satellite service, direct broadcast satellite service, or digital audiovisual works;

(4)Tax revenuelien notperfected. actually received, regardless of whether it is billed, including, but not limited to, bad debts;

(5)(a) revenueWhen receiveda bynotice anof affiliatetax orlien otheris personfiled by the Department in exchangethe forregistry, supplyingthe goodstax lien is perfected and servicesshall usedbe byattached ato provider;all of the existing and after-acquired property of the debtor, both real and personal, tangible and intangible, which is located in any and all counties within the State of Illinois.

(b) The amount of the tax lien shall be a debt due the State of Illinois and shall remain a lien upon all property and rights to property belonging to the debtor, both real and SB0009 EngrossedEnrolled - 114 - LRB100 06347 HLH 16385 b (6)personal, thetangible amountand ofintangible, anywhich refunds,is rebates,located orin discountsany madeand toall subscribers,counties advertisers,within orthe otherState persons;of Illinois.

(7)Interest revenueand frompenalty anyshall serviceaccrue thaton isthe subjecttax tolien taxat underthe same rate and with the Servicesame Occupationrestrictions, Taxif Act,any, Retailers'as Occupationspecified Taxby Act,statute Servicefor Usethe Taxaccrual Act,of interest and penalty for the type of tax or Usetaxes Taxfor Act;which the tax lien was issued.

(8)Section the1-25. tax imposed by this Act or any other tax of general applicability imposed on a provider or a purchaser of direct-to-home satellite service, direct broadcast satellite service, or digital audio-visual works by a federal, State, or local governmental entity and required to be collected by a person and remitted to the taxing entity;

(9)Time lateperiod paymentof feeslien. collected from subscribers;

(10)(a) charges,A othernotice thanof thosetax chargeslien specificallyshall describedbe ina thislien Act,upon thatthe aredebtor's aggregatedproperty orlocated bundledanywhere within suchthe specifically-describedState chargesfor on a subscriber'speriod bill,of if20 theyears providerfrom can reasonably identify the chargesdate inof itsfiling booksunless andit recordsis keptsooner inreleased by the regularDepartment. course of business;

(11)(b) revenueA fromnotice advertisingof services;release of tax lien filed in the registry shall constitute a release of the tax lien within the Department, the registry, and the county in which the tax lien was previously filed.

orThe (12)information chargescontained thaton maythe notregistry shall be taxedcontrolling, pursuantand to the federalregistry Internetshall Taxsupersede Freedomthe Act.records of any county.

"Permanent"Section means1-30. perpetual or for an indefinite or unspecified length of time.

"Person"Registry meansformat. a natural individual, firm, trust, estate, partnership, association, joint stock company, joint venture, SB0009 Engrossed - 12 - LRB100 06347 HLH 16385 b corporation, or limited liability company, or a receiver, trustee, guardian, or other representative appointed by order of any court, and includes the federal and State governments, including State universities created by statute, and municipalities, counties, and other political subdivisions of this State.

"Premises"(a) meansThe aDepartment residenceshall ormaintain placenotices of businesstax liens filed in the registry after the effective date of this Act in its information management system in a subscriberform that permits the information to be readily accessible in thisan State.electronic form through the Internet and to be reduced to printed form.

"Provider"The meanselectronic aand personprinted whoform transmits,shall broadcasts,include sells,the orfollowing distributesSB0009 direct-to-homeEnrolled satellite- service,5 direct- broadcastLRB100 satellite06347 service,HLH or16385 digitalb audio-visualinformation: works to subscribers in the State.

"Subscriber"(1) meansthe aname member of the generaltaxpayer; public who receives direct-to-home satellite service, direct broadcast satellite service, or digital audio-visual works from a provider and does not further distribute the service in the ordinary course of business.

Section(2) 10-15.the name and address of the Department;

Imposition(3) ofthe tax.tax lien number assigned to the lien by the Department;

(a)(4) A tax is imposed upon the actamount or privilege of providingthe direct-to-hometaxes, satellitepenalties, service,interest, directand broadcastfees satelliteindicated service,due oron digital audio-visual works to a subscriber in this State by any provider at the ratenotice of 5%tax oflien thereceived provider's gross revenues derived from orthe attributableDepartment; to that subscriber.

(b)and For(5) purposes of the taxdate imposedand bytime subsection (a), a subscriber is in this State if the subscriber's street address SB0009 Engrossed - 13 - LRB100 06347 HLH 16385 b representative of wherefiling. the subscriber's use or access of the direct-to-home satellite service, direct broadcast satellite service, or digital audio visual work primarily occurs, which must be the street address of the subscriber based on such other information kept by the provider in the regular course of its business.

(c)(b) TheInformation taxin imposedthe byregistry subsectionshall (a) may be passedsearchable throughby to,name andof collecteddebtor from,or theby provider'stax subscriberslien innumber. Illinois.

ToThe theDepartment extentshall allowednot undercharge federalfor oraccess State law, a provider may identify as a separate line item on each regular bill issued to ainformation subscriberin the amountregistry. of the total bill assessed as a tax under this Act.

(d)(c) ToThe preventDepartment actual multi-state taxation upon the act or privilege that is subjectauthorized to taxationsell underat thisbulk Act,the anyinformation taxpayer,appearing upon proof that that taxpayer has paid a tax in another state on such event, shall be allowed a credit against the tax imposedlien inregistry. this Act to the extent of the amount of such tax properly due and paid in such other state.

However,In suchselling taxthe isinformation, notthe imposedDepartment onshall theadopt actrules orgoverning privilegethe toprocess by which the extentinformation suchwill actbe sold and the media or privilegemethod mayby not,which underit will be available to the Constitutionpurchaser and statutesshall ofset a price for the Unitedinformation States,that bewill madeat least cover the subjectcost of taxationproducing by the State.information.

SectionThe 10-20.proceeds from the sale of bulk information shall be retained by the Department and used to cover its cost to produce the information sold and to maintain the registry.

Remittances.(d) Registry information, whether accessed by name of debtor or by tax lien number at no charge, through a bulk sale of information, or by other means, shall not be used for survey, marketing, or solicitation purposes.

(a)Survey, On or before the twentieth day of each calendar month, every provider of direct-to-home satellite service, direct SB0009 EngrossedEnrolled - 146 - LRB100 06347 HLH 16385 b broadcastmarketing, satellite service, or digitalsolicitation audio-visualpurpose worksdoes thatnot providesinclude suchany serviceaction orby servicesthe toDepartment aor subscriberits inauthorized thisagent Stateto duringcollect thea precedingdebt calendarrepresented monthby shall file a returntax withlien theappearing Department, in a form prescribed by the Department,registry. stating:

(1)The Attorney General may bring an action in any court of competent jurisdiction to enjoin the nameunlawful use of registry information for survey, marketing, or solicitation purposes and to recover the provider;cost of such action, including reasonable attorney's fees.

(2)Section the1-35. address of the provider's principal place of business;

(3)Rulemaking. the total amount of gross revenues received by the provider during the preceding calendar month, quarter, or year, as the case may be, from the provision of direct-to-home satellite service, direct broadcast satellite service, or digital audio-visual works during that preceding calendar month, quarter, or year and upon the basis of which the tax is imposed;

(4)The Department may adopt rules in accordance with the amountIllinois Administrative Procedure Act to enforce the provisions of taxthis due;Act.

(5)Section the1-40. signature of the taxpayer;

andConflicts. (6) such other reasonable information as the Department may require.

(b)In If a taxpayer fails to sign a return within 30 days after the properevent noticeof andconflict demandbetween forthis signatureAct by the Department is received by the taxpayer, then the return shall be considered valid and any amountother shownlaw, tothis beAct due on the return shall becontrol. deemed assessed.

(c) If the provider is otherwise required to file a monthly return, and if the provider's average monthly tax liability to SB0009 Engrossed - 15 - LRB100 06347 HLH 16385 b the Department under this Act does not exceed $200, the Department may authorize the provider's returns to be filed on a quarter annual basis, with the return for January, February, and March of a given year being due by April 20 of that year;

with the return for April, May, and June of a given year being due by July 20 of that year;

with the return for July, August, and September of a given year being due by October 20 of that year, and with the return for October, November, and December of a given year being due by January 20 of the following year.

(d) If the provider is otherwise required to file a monthly or quarterly return, and if the provider's average monthly tax liability with the Department under this Act does not exceed $50, the Department may authorize the provider's returns to be filed on an annual basis, with the return for a given year being due by January 20 of the following year.

(e) Those quarterly and annual returns shall be subject to the same requirements as to form and substance as monthly returns.

(f) A taxpayer who has an annual tax liability in the amount set forth in subsection (b) of Section 2505-210 of the Department of Revenue Law shall make all payments required by rules of the Department by electronic funds transfer.

Any taxpayer not required to make payments by electronic funds transfer may make payments by electronic funds transfer with the permission of the Department.

All taxpayers required to make payment by electronic funds SB0009 Engrossed - 16 - LRB100 06347 HLH 16385 b transfer and any taxpayers authorized to voluntarily make payments by electronic funds transfer shall make those payments in the manner authorized by the Department.

Section 10-25.

Records.

(a) A provider on whom the tax is imposed by this Act shall maintain the necessary records, and any other information required by the Department, to determine the amount of the tax that the provider is required to remit and any credit that the provider is entitled to claim under this Act.

(b) The records shall be open at all times to inspection by the Department.

Section 10-30.

Rules.

The Department is authorized to adopt and enforce any reasonable rules and to prescribe such forms relating to the administration and enforcement of this Act as it may deem appropriate.

Section 10-35.

Incorporation of Retailers' Occupation Tax Act and Uniform Penalty and Interest Act.

All of the provisions of Sections 4, 5, 5a, 5b, 5c, 5d, 5e, 5f, 5g, 5i, and 5j of the Retailers' Occupation Tax Act, which are not inconsistent with this Act, and the Uniform Penalty and Interest Act, shall apply, as far as practicable, to the subject matter of this Act to the same extent as if such provisions were included herein.

References in those incorporated Sections to taxpayers and to SB0009 Engrossed - 17 - LRB100 06347 HLH 16385 b persons engaged in the business of selling tangible personal property at retail mean providers of direct-to-home satellite service, direct broadcast satellite service, or digital audio-visual works when used in this Act.

ENTERTAINMENTREVISED TAXUNIFORM FAIRNESSUNCLAIMED PROPERTY ACT SectionARTICLE 15-1.1.

GENERAL PROVISIONS Section 15-101.

This Act may be cited as the EntertainmentRevised TaxUniform FairnessUnclaimed Property Act.

SectionReferences 15-5.in this Article 15 (the Revised Uniform Unclaimed Property Act) to "this Act" mean this Article 15 (the Revised Uniform Unclaimed Property Act).

Application.Section 15-102.

This Act applies to all subscribers of entertainment in this State for the privilege to witness, view, or otherwise enjoy the entertainment.

This Act does not apply to:

(1) satellite radio service or subscription radio service whereby a digital radio signal is broadcast without any corresponding or related video programming or services;

or (2) a satellite television transmission of simulcast horse races broadcast from or received at locations operated by an organization licensee, an inter-track wagering licensee, or an inter-track wagering location licensee licensed under the Illinois Horse Racing Act of 1975.

Section 15-10.

AsIn used in this Act:

"CableSB0009 service"Enrolled has- the7 meaning- givenLRB100 to06347 thatHLH term16385 inb item(1) (6)"Administrator" ofmeans 47the U.S.C.State Treasurer.

522.(2) "Administrator's agent" means a person with which the administrator contracts to conduct an examination under Article 10 on behalf of the administrator.

SB0009The Engrossedterm -includes 18an -independent LRB100contractor 06347of HLHthe 16385person band "Department"each meansindividual participating in the Departmentexamination on behalf of Revenue.the person or contractor.

"Digital(2.5) audio-visual"Affiliated worksgroup service" means the transmission of amerchants" seriesmeans of2 relatedor imagesmore that,affiliated whenmerchants shownor inother succession,persons impartthat anare impressionrelated ofby motion,common togetherownership withor accompanyingcommon sounds,corporate ifcontrol any,and soldthat toshare anthe endsame username, withmark, rightsor oflogo. less than permanent use.

"DigitalThe audio-visualterm worksalso service"applies doesto not2 includeor cablemore servicemerchants or videoother service.persons that agree among themselves, by contract or otherwise, to redeem cards, codes, or other devices bearing the same name, mark, or logo (other than the mark, logo, or brand of a payment network), for the purchase of goods or services solely at such merchants or persons.

"DirectHowever, broadcastmerchants satellite service" means video services transmitted or broadcastother bypersons satelliteare directly to the subscriber's premises with the use of or accompanied by ground receiving or distribution equipment, including, but not limitedconsidered to, infrastructure to providebe Internetaffiliated accessmerely usedbecause inthey theagree transmission or broadcast of such video services, at the subscriber's premises, but not in the uplink process to theaccept satellite,a andcard includes,that butbears is not limited to, the retransmissionmark, oflogo, localor broadcastbrand television, the provision of premiuma channels,payment othernetwork. recurring monthly services, service and pay-per-view, video-on-demand, and other event-based services.

"Direct-to-home(3) satellite"Apparent service"owner" hasmeans a person whose name appears on the meaningrecords givenof toa thatholder termas inthe Publicowner Lawof No.property held, issued, or owing by the holder.

104-104,(4) Title"Business VI,association" Sectionmeans 602(a),a Februarycorporation, 8,joint 1996,stock 110company, Stat.investment company, unincorporated association, joint venture, limited liability company, SB0009 Enrolled - 8 - LRB100 06347 HLH 16385 b business trust, trust company, land bank, safe deposit company, safekeeping depository, financial organization, insurance company, federally chartered entity, utility, sole proprietorship, or other business entity, whether or not for profit.

144(5) (reprinted"Confidential atinformation" 47means U.S.C.information that is "personal information" under the Personal Information Protection Act, "private information" under the Freedom of Information Act or personal information contained within public records, the disclosure of which would constitute a clearly unwarranted invasion of personal privacy, unless the disclosure is consented to in writing by the individual subjects of the information as provided in the Freedom of Information Act.

152).(6) "Domicile" means:

"End(A) user"for means any person other than a personcorporation, whothe receivesstate by contract a product transferred electronically for further commercial broadcast, rebroadcast, transmission, SB0009 Engrossed - 19 - LRB100 06347 HLH 16385 b retransmission, licensing, relicensing, distribution, redistribution, or exhibition of theits product,incorporation; in whole or in part, to another person or persons.

"Entertainment"(B) meansfor anya paidbusiness videoassociation programmingwhose whetherformation transmittedrequires bya cablefiling service,with direct-to-homea satellitestate, service,other directthan broadcasta satellitecorporation, service,the digitalstate audio-visualof worksits service,filing; or video service to a subscriber in this State.

"Permanent"(C) meansfor perpetuala orfederally forchartered entity or an indefiniteinvestment orcompany unspecifiedregistered lengthunder the Investment Company Act of time.1940, the state of its home office;

"Provider"and means(D) afor personany whoother transmits,holder, broadcasts,the sells,state orof distributesits cableprincipal service,place direct-to-homeof satellitebusiness. service, direct broadcast satellite service, digital audio-visual works service, or video service to subscribers in the State.

"Subscriber"(7) "Electronic" means arelating memberto oftechnology thehaving generalSB0009 publicEnrolled who- receives9 cable- service,LRB100 direct-to-home06347 satelliteHLH service,16385 directb broadcastelectrical, satellitedigital, service,magnetic, orwireless, digitaloptical, audio-visualelectromagnetic, works service, or videosimilar servicecapabilities. from a provider and does not further distribute the service in the ordinary course of business.

"Video(8) service""Electronic hasmail" themeans meaninga givencommunication toby thatelectronic termmeans inwhich theis Cableautomatically retained and Videostored Competitionand Lawmay ofbe 2007readily ofaccessed theor Publicretrieved. Utilities Act.

Section(9) 15-15."Financial organization" means a bank, savings bank, corporate fiduciary, currency exchange, money transmitter, or credit union.

Imposition(10) of"Game-related tax.digital content" means digital content that exists only in an electronic game or electronic-game platform.

SB0009The Engrossedterm: - 20 - LRB100 06347 HLH 16385 b (a) A tax is imposed upon the subscribers of entertainment in this State at the rate of 1% of the charges paid for the privilege to witness, view, or otherwise enjoy the entertainment.

(b)(A) Forincludes: purposes of the tax imposed by subsection (a), a subscriber is in this State if the subscriber's street address is representative of where the subscriber's use or access of the entertainment primarily occurs, which must be the street address of the subscriber based on such other information kept by the provider in the regular course of its business.

(c)(i) Thegame-play providercurrency ofsuch theas entertainmenta shallvirtual collectwallet, andeven secureif fromdenominated each subscriber the tax imposed by this Act and remit the tax to the Department as set forth in SectionUnited 15-20States ofcurrency; this Act.

Sectionand 15-20.(ii) the following if for use or redemption only within the game or platform or another electronic game or electronic-game platform:

Remittances.(I) points sometimes referred to as gems, tokens, gold, and similar names;

(a)and On(II) ordigital beforecodes; the twentieth day of each calendar month, every provider shall file a return with the Department, in a form prescribed by the Department, stating:

(1)and the(B) namedoes ofnot include an item that the provider;issuer:

(2)(i) thepermits addressto ofbe theredeemed provider'sfor principaluse placeoutside ofa business;game or platform for:

(3)(I) themoney; total amount of tax revenues collected by the provider under this Act during the preceding calendar month, quarter, or year, as the case may be, during that preceding calendar month, quarter, or year and upon the SB0009 Engrossed - 21 - LRB100 06347 HLH 16385 b basis of which the tax is imposed;

(4)or the(II) amountgoods ofor taxservices due;that have more than SB0009 Enrolled - 10 - LRB100 06347 HLH 16385 b minimal value;

(5)or the(ii) signatureotherwise ofmonetizes thefor provider;use outside a game or platform.

and(11) (6)"Gift suchcard" othermeans: reasonable information as the Department may require.

(b)(A) If a providerstored-value failscard: to sign a return within 30 days after the proper notice and demand for signature by the Department is received by the provider, then the return shall be considered valid and any amount shown to be due on the return shall be deemed assessed.

(c)(i) Ifissued the provider is otherwise required to file a monthly return, and if the amount collected by the provider under this Act does not exceed $200, the Department may authorize the provider's returns to be filed on a quarterprepaid annualbasis basis,in with the return for January, February, and March of a givenspecified yearamount; being due by April 20 of that year;

with(ii) the returnvalue for April, May, and June of awhich givendoes yearnot beingexpire; due by July 20 of that year;

with(iii) the return for July, August, and September of a given year being due by October 20 of that year,is andnot withsubject theto return for October, November, and December of a givendormancy, yearinactivity, beingor dueservice byfee; January 20 of the following year.

(d)(iv) Ifthat the provider is otherwise required to file a monthly or quarterly return, and if the amount collected by the provider under this Act does not exceed $50, the Department may authorize the provider's returns to be fileddecreased onin anvalue annualonly basis,by withredemption the return for amerchandise, givengoods, yearor beingservices dueupon bypresentation Januaryat 20a SB0009single Engrossedmerchant -or 22an -affiliated LRB100group 06347 HLH 16385 b of themerchants; following year.

(e)(v) Thosethat, quarterlyunless andrequired annualby returnslaw, shallmay not be subjectredeemed tofor theor sameconverted requirementsinto asmoney toor formotherwise andmonetized substanceby asthe monthlyissuer; returns.

(f)and A(B) providerincludes responsiblea forprepaid collectingcommercial andmobile remittingradio theservice, amountas setdefined forth in subsection47 (b)C.F.R. of Section 2505-210 of the Department of Revenue Law shall make all payments required by rules of the Department by electronic funds transfer.

Any20.3, provideras notamended. required to make payments by electronic funds transfer may make payments by electronic funds transfer with the permission of the Department.

All(12) providers"Holder" requiredmeans toa makeperson paymentobligated byto electronichold fundsfor transferthe andaccount anyof, taxpayersor authorized to voluntarilydeliver makeor paymentspay byto, electronic funds transfer shall make those payments in the mannerowner, authorizedproperty bysubject theto Department.this Act.

Section(13) 15-25."Insurance company" means an association, corporation, or fraternal or mutual-benefit organization, whether or not for profit, engaged in the business of providing life endowments, annuities, or insurance, SB0009 Enrolled - 11 - LRB100 06347 HLH 16385 b including accident, burial, casualty, credit-life, contract-performance, dental, disability, fidelity, fire, health, hospitalization, illness, life, malpractice, marine, mortgage, surety, wage-protection, and worker-compensation insurance.

Records.(14) "Loyalty card" means a record given without direct monetary consideration under an award, reward, benefit, loyalty, incentive, rebate, or promotional program which may be used or redeemed only to obtain goods or services or a discount on goods or services.

(a)The Aterm providerdoes subjectnot toinclude thisa Actrecord shallthat maintainmay thebe necessaryredeemed records,for andmoney anyor otherotherwise informationmonetized required by the Department,issuer. to determine the amount of the tax that the provider is required to collect and remit and any credit that the provider is entitled to claim under this Act.

(b)(15) The"Mineral" recordsmeans shallgas, beoil, opencoal, atoil allshale, timesother togaseous inspectionliquid or solid hydrocarbon, cement material, sand and gravel, road material, building stone, chemical raw material, gemstone, fissionable and nonfissionable ores, colloidal and other clay, steam and other geothermal resources, and any other substance defined as a mineral by thelaw Department.of this State other than this Act.

Section(16) 15-30."Mineral proceeds" means an amount payable for extraction, production, or sale of minerals, or, on the abandonment of the amount, an amount that becomes payable after abandonment.

Rules.The term includes an amount payable:

The(A) Departmentfor isthe authorizedacquisition toand adoptretention SB0009of Engrosseda -mineral 23lease, -including LRB100a 06347bonus, HLHroyalty, 16385compensatory broyalty, andshut-in enforceroyalty, anyminimum reasonableroyalty, rules and todelay prescribeSB0009 suchEnrolled forms- relating12 to- theLRB100 administration06347 andHLH enforcement16385 ofb thisrental; Act as it may deem appropriate.

Section(B) 15-35.for the extraction, production, or sale of minerals, including a net revenue interest, royalty, overriding royalty, extraction payment, and production payment;

Incorporationand of(C) Retailers'under Occupationan Taxagreement Actor andoption, Uniformincluding Penaltya joint-operating agreement, unit agreement, pooling agreement, and Interestfarm-out Act.agreement.

All(17) of"Money theorder" provisionsmeans ofa Sectionspayment 4,order 5,for 5a,a 5b,specified 5c,amount 5d, 5e, 5f, 5g, 5i, and 5j of themoney. Retailers' Occupation Tax Act, which are not inconsistent with this Act, and the Uniform Penalty and Interest Act, shall apply, as far as practicable, to the subject matter of this Act to the same extent as if such provisions were included herein.

ReferencesThe interm thoseincludes incorporatedan Sectionsexpress tomoney taxpayersorder and toa persons engaged in the business of selling tangible personal propertymoney atorder retailon meanwhich providersthe ofremitter direct-to-homeis satellitethe service,purchaser. direct broadcast satellite service, or digital audio-visual works service when used in this Act.

ARTICLE(18) 30."Municipal bond" means a bond or evidence of indebtedness issued by a municipality or other political subdivision of a state.

AMENDATORY(19) PROVISIONS"Net Sectioncard 30-5.value" means the original purchase price or original issued value of a stored-value card, plus amounts added to the original price or value, minus amounts used and any service charge, fee, or dormancy charge permitted by law.

The(20) State"Non-freely Financetransferable Actsecurity" ismeans amendeda bysecurity changingthat Sectioncannot 6z-51be anddelivered to the administrator by addingthe SectionsDepository 5.878Trust Clearing Corporation or similar custodian of securities providing post-trade clearing and 5.879settlement asservices follows:to financial markets or cannot be delivered because there is no agent to effect transfer.

(30The ILCSSB0009 105/5.878Enrolled new)- Sec.13 - LRB100 06347 HLH 16385 b term includes a worthless security.

5.878.(21) "Owner" means a person that has a legal, beneficial, or equitable interest in property subject to this Act or the person's legal representative when acting on behalf of the owner.

The Budgetterm Economicincludes: Stabilization Fund.

SB0009(A) Engrosseda -depositor, 24for -a LRB100deposit; 06347 HLH 16385 b (30 ILCS 105/5.879 new) Sec.

5.879.(B) a beneficiary, for a trust other than a deposit in trust;

The(C) Billa Backlogcreditor, Paymentclaimant, Fund.or payee, for other property;

(30and ILCS(D) 105/6z-51)the Sec.lawful bearer of a record that may be used to obtain money, a reward, or a thing of value.

6z-51.(22) "Payroll card" means a record that evidences a payroll-card account as defined in Regulation E, 12 CFR Part 1005, as amended.

Budget(23) Stabilization"Person" Fund.means an individual, estate, business association, public corporation, government or governmental subdivision, agency, or instrumentality, or other legal entity whether or not for profit.

(a)(24) The"Property" Budgetmeans Stabilizationtangible Fund,property adescribed special fund in theSection State15-201 Treasury,or shalla consistfixed ofand moneyscertain appropriatedinterest orin transferredintangible toproperty thatheld, Fund,issued, asor providedowed in Sectionthe 6z-43course andof asa otherwiseholder's providedbusiness or by law.a government, governmental subdivision, agency, or instrumentality.

AllThe earningsterm: on Budget Stabilization Fund investments shall be deposited into that Fund.

(b)(A) Untilincludes anall initialincome transfer has been made to the Budget Economic Stabilization Fund under Section 5-30 of the Budget Economic Stabilization Fund Act, the The State Comptroller may direct the State Treasurer to transfer moneys from theor Budgetincrements Stabilization Fund to the Generalproperty; Revenue Fund in order to meet cash flow deficits resulting from timing variations between disbursements and the receipt of funds within a fiscal year.

AnySB0009 moneysEnrolled so- borrowed14 in- anyLRB100 fiscal06347 yearHLH other16385 thanb Fiscal(B) Yearincludes 2011property shallreferred beto repaidas byor Juneevidenced 30by: of the fiscal year in which they were borrowed.

Any(i) moneysmoney, sovirtual borrowedcurrency, ininterest, Fiscalor Yeara 2011dividend, shallcheck, bedraft, repaiddeposit, noor laterpayroll thancard; July 15, 2011.

(c)(ii) Duringa Fiscalcredit Yearbalance, 2017customer's only,overpayment, amountsstored-value maycard, besecurity expendeddeposit, fromrefund, thecredit Budgetmemorandum, Stabilizationunpaid Fundwage, onlyunused pursuantticket for which the issuer has an obligation to specificprovide authorizationa byrefund, appropriation.mineral proceeds, or unidentified remittance;

Any(iii) moneysa expendedsecurity pursuantexcept tofor: appropriation shall not be subject to repayment.

(I) a worthless security;

or (II) a security that is subject to a lien, legal hold, or restriction evidenced on the records of the holder or imposed by operation of law, if the lien, legal hold, or restriction restricts the holder's or owner's ability to receive, transfer, sell, or otherwise negotiate the security;

(iv) a bond, debenture, note, or other evidence of indebtedness;

(v) money deposited to redeem a security, make a distribution, or pay a dividend;

(vi) an amount due and payable under an annuity contract or insurance policy;

and (vii) an amount distributable from a trust or SB0009 Enrolled - 15 - LRB100 06347 HLH 16385 b custodial fund established under a plan to provide health, welfare, pension, vacation, severance, retirement, death, stock purchase, profit-sharing, employee-savings, supplemental-unemployment insurance, or a similar benefit;

and (C) does not include:

(i) game-related digital content;

(ii) a loyalty card;

or (iii) a gift card.

(25) "Putative holder" means a person believed by the administrator to be a holder, until the person pays or delivers to the administrator property subject to this Act or the administrator or a court makes a final determination that the person is or is not a holder.

(26) "Record" means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.

The phrase "records of the holder" includes records maintained by a third party that has contracted with the holder.

(27) "Security" means:

(A) a security as defined in Article 8 of the Uniform Commercial Code;

(B) a security entitlement as defined in Article 8 of the Uniform Commercial Code, including a customer security account held by a registered broker-dealer, to the extent the financial assets held in the security SB0009 Enrolled - 16 - LRB100 06347 HLH 16385 b account are not:

(i) registered on the books of the issuer in the name of the person for which the broker-dealer holds the assets;

(ii) payable to the order of the person;

or (iii) specifically indorsed to the person;

or (C) an equity interest in a business association not included in subparagraph (A) or (B).

(28) "Sign" means, with present intent to authenticate or adopt a record:

(A) to execute or adopt a tangible symbol;

or (B) to attach to or logically associate with the record an electronic symbol, sound, or process.

(29) "State" means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States.

(30) "Stored-value card" means a record evidencing a promise made for consideration by the seller or issuer of the record that goods, services, or money will be provided to the owner of the record to the value or amount shown in the record.

The term:

(A) includes:

(i) a record that contains or consists of a microprocessor chip, magnetic strip, or other SB0009 Enrolled - 17 - LRB100 06347 HLH 16385 b means for the storage of information, which is prefunded and whose value or amount is decreased on each use and increased by payment of additional consideration;

and (ii) a gift card and payroll card;

and (B) does not include a loyalty card or game-related digital content.

(31) "Utility" means a person that owns or operates for public use a plant, equipment, real property, franchise, or license for the following public services:

(A) transmission of communications or information;

(B) production, storage, transmission, sale, delivery, or furnishing of electricity, water, steam, or gas;

or (C) provision of sewage or septic services, or trash, garbage, or recycling disposal.

(32) "Virtual currency" means a digital representation of value used as a medium of exchange, unit of account, or store of value, which does not have legal tender status recognized by the United States.

The term does not include:

(A) the software or protocols governing the transfer of the digital representation of value;

(B) game-related digital content;

or (C) a loyalty card or gift card.

(33) "Worthless security" means a security whose cost of liquidation and delivery to the administrator would SB0009 Enrolled - 18 - LRB100 06347 HLH 16385 b exceed the value of the security on the date a report is due under this Act.

Section 15-103.

Inapplicability to foreign transaction.

This Act does not apply to property held, due, and owing in a foreign country if the transaction out of which the property arose was a foreign transaction.

Section 15-104.

Rulemaking.

The administrator may adopt rules to implement and administer this Act pursuant to the Illinois Administrative Procedure Act.

ARTICLE 2.

PRESUMPTION OF ABANDONMENT Section 15-201.

When property presumed abandoned.

Subject to Section 15-210, the following property is presumed abandoned if it is unclaimed by the apparent owner during the period specified below:

(1) a traveler's check, 15 years after issuance;

(2) a money order, 7 years after issuance;

(3) (Blank).

(4) a state or municipal bond, bearer bond, or original-issue-discount bond, 3 years after the earliest of the date the bond matures or is called or the obligation to pay the principal of the bond arises;

(5) a debt of a business association, 3 years after the SB0009 Enrolled - 19 - LRB100 06347 HLH 16385 b obligation to pay arises;

(6) a demand, savings, or time deposit, 3 years after the later of maturity or the date of the last indication of interest in the property by the apparent owner, except for a deposit that is automatically renewable, 3 years after its initial date of maturity unless the apparent owner consented in a record on file with the holder to renewal at or about the time of the renewal;

(7) money or a credit owed to a customer as a result of a retail business transaction, other than in-store credit for returned merchandise, other than a stored-value card, 3 years after the obligation arose;

(8) an amount owed by an insurance company on a life or endowment insurance policy or an annuity contract that has matured or terminated, 3 years after the obligation to pay arose under the terms of the policy or contract or, if a policy or contract for which an amount is owed on proof of death has not matured by proof of the death of the insured or annuitant, as follows:

(A) with respect to an amount owed on a life or endowment insurance policy, the earlier of:

(i) 3 years after the death of the insured;

or (ii) 2 years after the insured has attained, or would have attained if living, the limiting age under the mortality table on which the reserve for the policy is based;

and SB0009 Enrolled - 20 - LRB100 06347 HLH 16385 b (B) with respect to an amount owed on an annuity contract, 3 years after the death of the annuitant.

(9) funds on deposit or held in trust for the prepayment of a funeral or other funeral-related expenses, the earliest of:

(A) 2 years after the date of death of the beneficiary;

(B) one year after the date the beneficiary has attained, or would have attained if living, the age of 105 where the holder does not know whether the beneficiary is deceased;

(C) 30 years after the contract for prepayment was executed;

(10) property distributable by a business association in the course of dissolution or distributions from the termination of a retirement plan, one year after the property becomes distributable;

(11) property held by a court, including property received as proceeds of a class action, 3 years after the property becomes distributable;

(12) property held by a government or governmental subdivision, agency, or instrumentality, including municipal bond interest and unredeemed principal under the administration of a paying agent or indenture trustee, 3 years after the property becomes distributable;

(13) wages, commissions, bonuses, or reimbursements to SB0009 Enrolled - 21 - LRB100 06347 HLH 16385 b which an employee is entitled, or other compensation for personal services, including amounts held on a payroll card, one year after the amount becomes payable;

(14) a deposit or refund owed to a subscriber by a utility, one year after the deposit or refund becomes payable, except that any capital credits or patronage capital retired, returned, refunded or tendered to a member of an electric cooperative, as defined in Section 3.4 of the Electric Supplier Act, or a telephone or telecommunications cooperative, as defined in Section 13-212 of the Public Utilities Act, that has remained unclaimed by the person appearing on the records of the entitled cooperative for more than 2 years, shall not be subject to, or governed by, any other provisions of this Act, but rather shall be used by the cooperative for the benefit of the general membership of the cooperative;

and (15) property not specified in this Section or Sections 15-202 through 15-208, the earlier of 3 years after the owner first has a right to demand the property or the obligation to pay or distribute the property arises.

Notwithstanding anything to the contrary in this Section 15-201, and subject to Section 15-210, a deceased owner cannot indicate interest in his or her property.

If the owner is deceased and the abandonment period for the owner's property specified in this Section 15-201 is greater than 2 years, then the property, other than an amount owed by an insurance company SB0009 Enrolled - 22 - LRB100 06347 HLH 16385 b on a life or endowment insurance policy or an annuity contract that has matured or terminated, shall instead be presumed abandoned 2 years from the date of the owner's last indication of interest in the property.

Section 15-202.

When tax-deferred retirement account presumed abandoned.

(a) Subject to Section 15-210, property held in a pension account or retirement account that qualifies for tax deferral under the income-tax laws of the United States is presumed abandoned if it is unclaimed by the apparent owner after the later of:

(1) 3 years after the following dates:

(A) except as in subparagraph (B), the date a communication sent by the holder by first-class United States mail to the apparent owner is returned to the holder undelivered by the United States Postal Service;

or (B) if such communication is re-sent within 30 days after the date the first communication is returned undelivered, the date the second communication was returned undelivered by the United States Postal Service;

or (2) the earlier of the following dates:

(A) 3 years after the date the apparent owner becomes 70.5 years of age, if determinable by the SB0009 Enrolled - 23 - LRB100 06347 HLH 16385 b holder;

or (B) one year after the date of mandatory distribution following death if the Internal Revenue Code requires distribution to avoid a tax penalty and the holder:

(i) receives confirmation of the death of the apparent owner in the ordinary course of its business;

or (ii) confirms the death of the apparent owner under subsection (b).

(b) If a holder in the ordinary course of its business receives notice or an indication of the death of an apparent owner and subsection (a)(2) applies, the holder shall attempt not later than 90 days after receipt of the notice or indication to confirm whether the apparent owner is deceased.

(c) If the holder does not send communications to the apparent owner of an account described in subsection (a) by first-class United States mail on at least an annual basis, the holder shall attempt to confirm the apparent owner's interest in the property by sending the apparent owner an electronic-mail communication not later than 2 years after the apparent owner's last indication of interest in the property.

However, the holder promptly shall attempt to contact the apparent owner by first-class United States mail if:

(1) the holder does not have information needed to send the apparent owner an electronic mail communication or the SB0009 Enrolled - 24 - LRB100 06347 HLH 16385 b holder believes that the apparent owner's electronic mail address in the holder's records is not valid;

(2) the holder receives notification that the electronic-mail communication was not received;

or (3) the apparent owner does not respond to the electronic-mail communication within 30 days after the communication was sent.

(d) If first-class United States mail sent under subsection (c) is returned to the holder undelivered by the United States Postal Service, the property is presumed abandoned 3 years after the later of:

(1) except as in paragraph (2), the date a communication to contact the apparent owner sent by first-class United States mail is returned to the holder undelivered;

(2) if such communication is re-sent within 30 days after the date the first communication is returned undelivered, the date the second communication was returned undelivered;

or (3) the date established by subsection (a)(2).

Section 15-203.

When other tax-deferred account presumed abandoned.

(a) Subject to Section 15-210 and except for property described in Section 15-202, property held in an account or plan, including a health savings account, that qualifies for SB0009 Enrolled - 25 - LRB100 06347 HLH 16385 b tax deferral under the income-tax laws of the United States is presumed abandoned if it is unclaimed by the apparent owner 3 years after the earlier of:

(1) the date, if determinable by the holder, specified in the income-tax laws and regulations of the United States by which distribution of the property must begin to avoid a tax penalty, with no distribution having been made;

or (2) 30 years after the date the account was opened.

(b) If the owner is deceased, then property subject to this Section is presumed abandoned 2 years from the earliest of:

(1) the date of the distribution or attempted distribution of the property;

(2) the date of the required distribution as stated in the plan or trust agreement governing the plan;

or (3) the date, if determinable by the holder, specified in the income tax laws of the United States by which distribution of the property must begin in order to avoid a tax penalty.

Section 15-204.

When custodial account for minor presumed abandoned.

(a) Subject to Section 15-210, property held in an account established under a state's Uniform Gifts to Minors Act or Uniform Transfers to Minors Act is presumed abandoned if it is unclaimed by or on behalf of the minor on whose behalf the account was opened 3 years after the later of:

SB0009 Enrolled - 26 - LRB100 06347 HLH 16385 b (1) except as in subparagraph (2), the date a communication sent by the holder by first-class United States mail to the custodian of the minor on whose behalf the account was opened is returned undelivered to the holder by the United States Postal Service;

(2) if a communication is re-sent within 30 days after the date the first communication is returned undelivered, the date the second communication was returned undelivered;

or (3) the date on which the custodian is required to transfer the property to the minor or the minor's estate in accordance with the Uniform Gifts to Minors Act or Uniform Transfers to Minors Act of the state in which the account was opened.

(b) If the holder does not send communications to the custodian of the minor on whose behalf an account described in subsection (a) was opened by first-class United States mail on at least an annual basis, the holder shall attempt to confirm the custodian's interest in the property by sending the custodian an electronic-mail communication not later than 2 years after the custodian's last indication of interest in the property.

However, the holder promptly shall attempt to contact the custodian by first-class United States mail if:

(1) the holder does not have information needed to send the custodian an electronic mail communication or the holder believes that the custodian's electronic-mail SB0009 Enrolled - 27 - LRB100 06347 HLH 16385 b address in the holder's records is not valid;

(2) the holder receives notification that the electronic-mail communication was not received;

or (3) the custodian does not respond to the electronic-mail communication within 30 days after the communication was sent.

(c) If first-class United States mail sent under subsection (b) is returned undelivered to the holder by the United States Postal Service, the property is presumed abandoned 3 years after the later of:

(1) the date a communication to contact the custodian by first-class United States mail is returned to the holder undelivered by the United States Postal Service;

or (2) the date established by subsection (a)(3).

(d) Notwithstanding any other provision of this Act, money of a minor deposited pursuant to Section 24-21 of the Probate Act of 1975 shall not be presumed abandoned earlier than 3 years after the minor attains legal age.

Such money shall be deposited into an account which shall indicate the date of birth of the minor.

(e) (Blank).

(f) When the property in the account described in subsections (a) or (d) is transferred to the minor on whose behalf an account was opened or to the minor's estate, the property in the account is no longer subject to this Section.

SB0009 Enrolled - 28 - LRB100 06347 HLH 16385 b Section 15-205.

When contents of safe-deposit box presumed abandoned.

Tangible property held in a safe-deposit box are presumed abandoned if the property remains unclaimed by the apparent owner 5 years after the expiration of the lease or rental period for the box.

Section 15-206.

When stored-value card presumed abandoned.

(a) Subject to Section 15-210, the net card value of a stored-value card, other than a payroll card or a gift card, is presumed abandoned on the latest of 5 years after:

(1) December 31 of the year in which the card is issued or additional funds are deposited into it;

(2) the most recent indication of interest in the card by the apparent owner;

or (3) a verification or review of the balance by or on behalf of the apparent owner.

(b) The amount presumed abandoned in a stored-value card is the net card value at the time it is presumed abandoned.

(c) However, if a holder has reported and remitted to the administrator the net card value on a stored-value card presumed abandoned under this Section and the stored-value card does not have an expiration date, then the holder must honor the card on presentation indefinitely and may then request reimbursement from the administrator under Section 605.

Section 15-208.

When security presumed abandoned.

SB0009 Enrolled - 29 - LRB100 06347 HLH 16385 b (a) Subject to Section 15-210, a security is presumed abandoned upon the earlier of the following:

(1) 3 years after the date a communication sent by the holder by first-class United States mail to the apparent owner is returned to the holder undelivered by the United States Postal Service;

however, if such returned communication is re-sent within one month to the apparent owner, the 3-year period does not begin to run until the day the resent item is returned as undeliverable;

or (2) 5 years after the date of the apparent owner's last indication of interest in the security.

(b) If the holder does not send communications to the apparent owner of a security by first-class United States mail on at least an annual basis, the holder shall attempt to confirm the apparent owner's interest in the security by sending the apparent owner an electronic-mail communication not later than 3 years after the apparent owner's last indication of interest in the security.

However, the holder promptly shall attempt to contact the apparent owner by first-class United States mail if:

(1) the holder does not have information needed to send the apparent owner an electronic-mail communication or the holder believes that the apparent owner's electronic-mail address in the holder's records is not valid;

(2) the holder receives notification that the electronic-mail communication was not received;

or SB0009 Enrolled - 30 - LRB100 06347 HLH 16385 b (3) the apparent owner does not respond to the electronic-mail communication within 30 days after the communication was sent.

(c) If first-class United States mail sent under subsection (b) is returned to the holder undelivered by the United States Postal Service, the security is presumed abandoned in accordance with subsection (a)(2) above.

(d) If a holder in the ordinary course of its business receives notice or an indication of the death of an apparent owner, the holder shall attempt not later than 90 days after receipt of the notice or indication to confirm whether the apparent owner is deceased.

Notwithstanding the standards set forth in paragraphs (a), (b) and (c), if the holder either receives confirmation of the death of the apparent owner in the ordinary course of its business or confirms the death of the apparent owner under this subsection (d), then, the property shall be presumed abandoned 2 years after the date of death of the owner.

Section 15-209.

When related property presumed abandoned.

At and after the time property is presumed abandoned under this Act, any other property right or interest accrued or accruing from the property and not previously presumed abandoned is also presumed abandoned.

Section 15-210.

Indication of apparent owner interest in SB0009 Enrolled - 31 - LRB100 06347 HLH 16385 b property.

(a) The period after which property is presumed abandoned is measured from the later of:

(1) the date the property is presumed abandoned under this Article;

or (2) the latest indication of interest by the apparent owner in the property.

(b) Under this Act, an indication of an apparent owner's interest in property includes:

(1) a record communicated by the apparent owner to the holder or agent of the holder concerning the property or the account in which the property is held;

(2) an oral communication by the apparent owner to the holder or agent of the holder concerning the property or the account in which the property is held, if the holder or its agent contemporaneously makes and preserves a record of the fact of the apparent owner's communication;

(3) presentment of a check or other instrument of payment of a dividend, interest payment, or other distribution, or evidence of receipt of a distribution made by electronic or similar means, with respect to an account, underlying security, or interest in a business association;

(4) activity directed by an apparent owner in the account in which the property is held, including accessing the account or information concerning the account, or a SB0009 Enrolled - 32 - LRB100 06347 HLH 16385 b direction by the apparent owner to increase, decrease, or otherwise change the amount or type of property held in the account;

(5) a deposit into or withdrawal from an account at a financial organization, except for a recurring Automated Clearing House (ACH) debit or credit previously authorized by the apparent owner or an automatic reinvestment of dividends or interest;

and (6) subject to subsection (e), payment of a premium on an insurance policy.

(c) An action by an agent or other representative of an apparent owner, other than the holder acting as the apparent owner's agent, is presumed to be an action on behalf of the apparent owner.

(d) A communication with an apparent owner by a person other than the holder or the holder's representative is not an indication of interest in the property by the apparent owner unless a record of the communication evidences the apparent owner's knowledge of a right to the property.

(e) If the insured dies or the insured or beneficiary of an insurance policy otherwise becomes entitled to the proceeds before depletion of the cash surrender value of the policy by operation of an automatic-premium-loan provision or other nonforfeiture provision contained in the policy, the operation does not prevent the policy from maturing or terminating.

(f) If the apparent owner has another property with the SB0009 Enrolled - 33 - LRB100 06347 HLH 16385 b holder to which Section 201(6) applies, then activity directed by an apparent owner in any other accounts, including loan accounts, at a financial organization holding an inactive account of the apparent owner shall be an indication of interest in all such accounts if:

(A) the apparent owner engages in one or more of the following activities:

(i) the apparent owner undertakes one or more of the actions described in subsection (b) of this Section regarding any account that appears on a consolidated statement with the inactive account;

(ii) the apparent owner increases or decreases the amount of funds in any other account the apparent owner has with the financial organization;

or (iii) the apparent owner engages in any other relationship with the financial organization, including payment of any amounts due on a loan;

and (B) the foregoing apply so long as the mailing address for the apparent owner in the financial organization's books and records is the same for both the inactive account and the active account.

Section 15-211.

Knowledge of death of insured or annuitant.

(a) In this Section, "death master file" means the United States Social Security Administration Death Master File or SB0009 Enrolled - 34 - LRB100 06347 HLH 16385 b other database or service that is at least as comprehensive as the United States Social Security Administration Death Master File for determining that an individual reportedly has died.

(b) With respect to a life or endowment insurance policy or annuity contract for which an amount is owed on proof of death, but which has not matured by proof of death of the insured or annuitant, the company has knowledge of the death of an insured or annuitant when:

(1) the company receives a death certificate or court order determining that the insured or annuitant has died;

(2) the company:

(A) receives notice of the death of the insured or annuitant from the administrator or an unclaimed property administrator of another state, a beneficiary, a policy owner, a relative of the insured, a representative under the Probate Act of 1975, or from an executor or other legal representative of the insured's or annuitant's estate;

and (B) validates the death of the insured or annuitant;

(3) the company conducts a comparison for any purpose between a death master file and the names of some or all of the company's insureds or annuitants, finds a match that provides notice that the insured or annuitant has died;

or (4) the administrator or the administrator's agent conducts a comparison for the purpose of finding matches SB0009 Enrolled - 35 - LRB100 06347 HLH 16385 b during an examination conducted under Article 10 between a death master file and the names of some or all of the company's insureds or annuitants, finds a match that provides notice that the insured or annuitant has died.

(c) The following rules apply under this Section:

(1) A death-master-file match under subsection (b)(3) or (4) occurs if the criteria for an exact or partial match are satisfied as provided by either:

(A) the Unclaimed Life Insurance Benefits Act or other law of this State other than this Act;

or (B) a rule or policy adopted by the Director of the Department of Insurance.

(2) The death-master-file match does not constitute proof of death for the purpose of submission to an insurance company of a claim by a beneficiary, annuitant, or owner of the policy or contract for an amount due under an insurance policy or annuity contract.

(3) The death-master-file match or validation of the insured's or annuitant's death does not alter the requirements for a beneficiary, annuitant, or owner of the policy or contract to make a claim to receive proceeds under the terms of the policy or contract.

(4) An insured or an annuitant is presumed dead if the date of his or her death is indicated by the death-master-file match under either subsection (b)(3) or (b)(4), unless the insurer has competent and substantial SB0009 Enrolled - 36 - LRB100 06347 HLH 16385 b evidence that the person is living, including, but not limited to, a contact made by the insurer with the person or his or her legal representative.

(d) This Act does not affect the determination of the extent to which an insurance company before the effective date of this Act had knowledge of the death of an insured or annuitant or was required to conduct a death-master-file comparison to determine whether amounts owed by the company on a life or endowment insurance policy or annuity contract were presumed abandoned or unclaimed.

Section 15-212.

Deposit account for proceeds of insurance policy or annuity contract.

If proceeds payable under a life or endowment insurance policy or annuity contract are deposited into an account with check or draft-writing privileges for the beneficiary of the policy or contract and, under a supplementary contract not involving annuity benefits other than death benefits, the proceeds are retained by the insurance company or the financial organization where the account is held, the policy or contract includes the assets in the account.

Section 15-213.

United States savings bonds.

(a) As used in this Section, "United States savings bond" means property, tangible or intangible, in the form of a savings bond issued by the United States Treasury, whether in SB0009 Enrolled - 37 - LRB100 06347 HLH 16385 b paper, electronic, or paperless form, along with all proceeds thereof in the possession of the administrator.

(b) Notwithstanding any provision of this Act to the contrary, a United States savings bond subject to this Section or held or owing in this State by any person is presumed abandoned when such bond has remained unclaimed and unredeemed for 5 years after its date of final extended maturity.

(c) United States savings bonds that are presumed abandoned and unclaimed under subsection (b) shall escheat to the State of Illinois and all property rights and legal title to and ownership of the United States savings bonds, or proceeds from the bonds, including all rights, powers, and privileges of survivorship of any owner, co-owner, or beneficiary, shall vest solely in the State according to the procedure set forth in subsections (d) through (f).

(d) Within 180 days after a United States savings bond has been presumed abandoned, in the absence of a claim having been filed with the administrator for the savings bond, the administrator shall commence a civil action in the Circuit Court of Sangamon County for a determination that the United States savings bonds has escheated to the State.

The administrator may postpone the bringing of the action until sufficient United States savings bonds have accumulated in the administrator's custody to justify the expense of the proceedings.

(e) The administrator shall make service by publication in SB0009 Enrolled - 38 - LRB100 06347 HLH 16385 b the civil action in accordance with Sections 2-206 and 2-207 of the Code of Civil Procedure, which shall include the filing with the Circuit Court of Sangamon County of the affidavit required in Section 2-206 of that Code by an employee of the administrator with personal knowledge of the efforts made to contact the owners of United States savings bonds presumed abandoned under this Section.

In addition to the diligent inquiries made pursuant to Section 2-206 of the Code of Civil Procedure, the administrator may also utilize additional discretionary means to attempt to provide notice to persons who may own a United States savings bond registered to a person with a last known address in the State of Illinois subject to a civil action pursuant to subsection (d).

(f) The owner of a United States savings bond registered to a person with a last known address in the State of Illinois subject to a civil action pursuant to subsection (d) may file a claim for such United States savings bond with either the administrator or by filing a claim in the civil action in the Circuit Court of Sangamon County in which the savings bond registered to that person is at issue prior to the entry of a final judgment by the Circuit Court pursuant to this subsection, and unless the Circuit Court determines that such United States savings bond is not owned by the claimant, then such United States savings bond shall no longer be presumed abandoned.

If no person files a claim or appears at the hearing to substantiate a disputed claim or if the court determines SB0009 Enrolled - 39 - LRB100 06347 HLH 16385 b that a claimant is not entitled to the property claimed by the claimant, then the court, if satisfied by evidence that the administrator has substantially complied with the laws of this State, shall enter a judgment that the United States savings bonds have escheated to this State, and all property rights and legal title to and ownership of such United States savings bonds or proceeds from such bonds, including all rights, powers, and privileges of survivorship of any owner, co-owner, or beneficiary, shall vest in this State.

(g) The administrator shall redeem from the Bureau of the Fiscal Service of the United States Treasury the United States savings bonds escheated to the State and deposit the proceeds from the redemption of United States savings bonds into the Unclaimed Property Trust Fund.

(h) Any person making a claim for the United States savings bonds escheated to the State under this subsection, or for the proceeds from such bonds, may file a claim with the administrator.

Upon providing sufficient proof of the validity of such person's claim, the administrator may, in his or her sole discretion, pay such claim.

If payment has been made to any claimant, no action thereafter may be maintained by any other claimant against the State or any officer thereof for or on account of such funds.

ARTICLE 3.

RULES FOR TAKING CUSTODY OF PROPERTY PRESUMED ABANDONED SB0009 Enrolled - 40 - LRB100 06347 HLH 16385 b Section 15-301.

Address of apparent owner to establish priority.

In this Article, the following rules apply:

(1) The last-known address of an apparent owner is any description, code, or other indication of the location of the apparent owner which identifies the state, even if the description, code, or indication of location is not sufficient to direct the delivery of first-class United States mail to the apparent owner.

(2) If the United States postal zip code associated with the apparent owner is for a post office located in this State, this State is deemed to be the state of the last-known address of the apparent owner unless other records associated with the apparent owner specifically identify the physical address of the apparent owner to be in another state.

(3) If the address under paragraph (2) is in another state, the other state is deemed to be the state of the last-known address of the apparent owner.

(4) The address of the apparent owner of a life or endowment insurance policy or annuity contract or its proceeds is presumed to be the address of the insured or annuitant if a person other than the insured or annuitant is entitled to the amount owed under the policy or contract and the address of the other person is not known by the insurance company and cannot be determined under Section SB0009 Enrolled - 41 - LRB100 06347 HLH 16385 b 15-302.

The address of the apparent owner of other property where ownership vests in a beneficiary upon the death of the owner is presumed to be the address of the now-deceased owner if the address of the beneficiary is not known by the holder and cannot be determined under Section 15-302.

Section 15-302.

Address of apparent owner in this State.

The administrator may take custody of property that is presumed abandoned, whether located in this State, another state, or a foreign country if:

(1) the last-known address of the apparent owner in the records of the holder is in this State;

or (2) the records of the holder do not reflect the identity or last-known address of the apparent owner, but the administrator has determined that the last-known address of the apparent owner is in this State.

Section 15-303.

If records show multiple addresses of apparent owner.

(a) Except as in subsection (b), if records of a holder reflect multiple addresses for an apparent owner and this State is the state of the most recently recorded address, this State may take custody of property presumed abandoned, whether located in this State or another state.

(b) If it appears from records of the holder that the most recently recorded address of the apparent owner under SB0009 Enrolled - 42 - LRB100 06347 HLH 16385 b subsection (a) is a temporary address and this State is the state of the next most recently recorded address that is not a temporary address, this State may take custody of the property presumed abandoned.

Section 15-304.

Holder domiciled in this State.

(a) Except as in subsection (b) or Section 15-302 or 15-303, the administrator may take custody of property presumed abandoned, whether located in this State, another state, or a foreign country, if the holder is domiciled in this State or is this State or a governmental subdivision, agency, or instrumentality of this State, and (1) another state or foreign country is not entitled to the property because there is no last-known address of the apparent owner or other person entitled to the property in the records of the holder;

or (2) the state or foreign country of the last-known address of the apparent owner or other person entitled to the property does not provide for custodial taking of the property.

(b) Property is not subject to custody of the administrator under subsection (a) if the property is specifically exempt from custodial taking under the law of this State or the state or foreign country of the last-known address of the apparent owner.

(c) If a holder's state of domicile has changed since the SB0009 Enrolled - 43 - LRB100 06347 HLH 16385 b time property was presumed abandoned, the holder's state of domicile under this Section is deemed to be the state where the holder was domiciled at the time the property was presumed abandoned.

Section 15-305.

Custody if transaction took place in this State.

Except as in Section 15-302, 15-303, or 15-304, the administrator may take custody of property presumed abandoned whether located in this State or another state if:

(1) the transaction out of which the property arose took place in this State;

(2) the holder is domiciled in a state that does not provide for the custodial taking of the property, except that if the property is specifically exempt from custodial taking under the law of the state of the holder's domicile, the property is not subject to the custody of the administrator;

and (3) the last-known address of the apparent owner or other person entitled to the property is unknown or in a state that does not provide for the custodial taking of the property, except that if the property is specifically exempt from custodial taking under the law of the state of the last-known address, the property is not subject to the custody of the administrator.

Section 15-306.

Traveler's check, money order, or similar SB0009 Enrolled - 44 - LRB100 06347 HLH 16385 b instrument.

The administrator may take custody of sums payable on a traveler's check, money order, or similar instrument presumed abandoned to the extent permissible under 12 U.S.C.

Sections 2501 through 2503, as amended.

Section 15-307.

Burden of proof to establish administrator's right to custody.

Subject to Article 4 and Section 15-1005, if the administrator asserts a right to custody of unclaimed property and there is a dispute concerning such property, the administrator has the initial burden to prove:

(1) the amount of the property;

(2) the property is presumed abandoned;

and (3) the property is subject to the custody of the administrator.

ARTICLE 4.

REPORT BY HOLDER Section 15-401.

Report required by holder.

(a) A holder of property presumed abandoned and subject to the custody of the administrator shall report in a record to the administrator concerning the property.

A holder shall report via the internet in a format approved by the administrator, unless the administrator gives a holder specific permission to file a paper report.

(b) A holder may contract with a third party to make the SB0009 Enrolled - 45 - LRB100 06347 HLH 16385 b report required under subsection (a).

(c) Whether or not a holder contracts with a third party under subsection (b), the holder is responsible:

(1) to the administrator for the complete, accurate, and timely reporting of property presumed abandoned;

and (2) for paying or delivering to the administrator property described in the report.

Section 15-402.

Content of report.

(a) The report required under Section 15-401 must:

(1) be signed by or on behalf of the holder and verified as to its completeness and accuracy;

(2) if filed electronically, be in a secure format approved by the administrator which protects confidential information of the apparent owner;

(3) describe the property;

(4) except for a traveler's check, money order, or similar instrument, contain the name, if known, last-known address, if known, and Social Security number or taxpayer identification number, if known or readily ascertainable, of the apparent owner of property with a value of $5 or more;

(5) for an amount held or owing under a life or endowment insurance policy, annuity contract, or other property where ownership vests in a beneficiary upon the death of the owner, contain the name and last-known address SB0009 Enrolled - 46 - LRB100 06347 HLH 16385 b of the insured, annuitant, or other apparent owner of the policy or contract and of the beneficiary;

(6) for property held in or removed from a safe-deposit box, indicate the location of the property, where it may be inspected by the administrator, and any amounts owed to the holder under Section 15-606;

(7) contain the commencement date for determining abandonment under Article 2;

(8) state that the holder has complied with the notice requirements of Section 15-501;

(9) identify property that is a non-freely transferable security and explain why it is a non-freely transferable security;

and (10) contain other information the administrator prescribes by rules.

(b) A report under Section 15-401 may include in the aggregate items valued under $5 each.

If the report includes items in the aggregate valued under $5 each, the administrator may not require the holder to provide the name and address of an apparent owner of an item unless the information is necessary to verify or process a claim in progress by the apparent owner.

(c) A report under Section 15-401 may include personal information as defined in Section 15-1401(a) about the apparent owner or the apparent owner's property.

(d) If a holder has changed its name while holding property SB0009 Enrolled - 47 - LRB100 06347 HLH 16385 b presumed abandoned or is a successor to another person that previously held the property for the apparent owner, the holder must include in the report under Section 15-401 its former name or the name of the previous holder, if any, and the known name and address of each previous holder of the property.

Section 15-403.

When report to be filed.

(a) Except as otherwise provided in subsection (b) and subject to subsection (c), the report under Section 15-401 must be filed before November 1 of each year and cover the 12 months preceding July 1 of that year.

(b) Subject to subsection (c), the report under Section 15-401 to be filed by business associations, utilities, and life insurance companies must be filed before May 1 of each year for the immediately preceding calendar year.

(c) Before the date for filing the report under Section 15-401, the holder of property presumed abandoned may request the administrator to extend the time for filing.

The administrator may grant an extension.

If the extension is granted, the holder may pay or make a partial payment of the amount the holder estimates ultimately will be due.

The payment or partial payment terminates accrual of interest on the amount paid.

Section 15-404.

Retention of records by holder.