South Carolina 2025-2026 Regular Session Status: In Committee

H 3422 — Real estate trust accounts

Last action — Referred to Committee on Judiciary

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the House. Introduced December 05, 2024. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the House.

Prognosis

Stalled 14% · moderate confidence

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

  • In Committee

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 27-18-410 SO AS TO PROVIDE THAT CERTAIN FUNDS HELD IN A TRUST ARE CONSIDERED TO BE UNCLAIMED PROPERTY AND MUST BE DONATED TO A CHARITABLE ORGANIZATION.

Bill Text

What changed in the latest version

22 added · 9 removed

Plain-language change summary

The recent amendment to Bill H 3422 establishes that any funds held in a trust, like a lawyer's trust account, become unclaimed property after five years of no activity. When this happens, the law requires that these funds be donated to a tax-exempt charitable organization. This change is significant because it helps ensure that unused funds benefit the community rather than remaining stagnant in accounts where they may never be utilized.

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2025-2026 Bill 3422 Text of Previous Version (Dec.
06, 2024) - South Carolina Legislature Online South Carolina General Assembly126th Session, 2025-2026Bill 3422Indicates Matter StrickenIndicates New Matter(Text matches printed bills.
Document has been reformatted to meet World Wide Web specifications.)                 A bill   TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 27-18-410 SO AS TO PROVIDE THAT CERTAIN FUNDS HELD IN A TRUST ARE CONSIDERED TO BE UNCLAIMED PROPERTY AND MUST BE DONATED TO A CHARITABLE ORGANIZATION.
  Be it enacted by the General Assembly of the State of South Carolina:
  SECTION 1.  Chapter 18, Title 27 of the S.C.
Code is amended by adding:
      Section 27-18-410.
Notwithstanding any other provision of law, when no disbursements have been made from any fund in a trust including, but not limited to, a lawyer's trust account, or similar monetary holding fund, or other financial setup with a fiduciary who authorizes disbursements from it, for a period of five years, the funds are considered to be unclaimed property as provided for in this chapter and must be donated to a charitable organization that is a tax exempt organization pursuant to Section 501(c)(3) of the Internal Revenue Code.
  SECTION 2.  This act takes effect upon approval by the Governor.
----XX---- This web page was last updated on December 06, 2024 at 11:51 AM
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Action History

  1. Referred to Committee on Judiciary

  2. Introduced and read first time

  3. Referred to Committee on Judiciary

  4. Prefiled

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 169 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (169)

169 members have not signed on to this bill.

Show all 169 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

housing
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does H 3422 do?
A BILL TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY ADDING SECTION 27-18-410 SO AS TO PROVIDE THAT CERTAIN FUNDS HELD IN A TRUST ARE CONSIDERED TO BE UNCLAIMED PROPERTY AND MUST BE DONATED TO A CHARITABLE ORGANIZATION.
Who sponsors H 3422?
H 3422 is sponsored by Representative Steven Wayne Long.
What is the current status of H 3422?
This bill is in committee in the House. Introduced December 05, 2024. It must pass committee before a floor vote.
Where can I track H 3422?
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