In an unexpected development, Illinois has adopted a modified version of the 2016 Revised Uniform Unclaimed Property Act (RUUPA) as part of the General Assembly’s effort to enact a state budget. The Illinois Act was added to an omnibus budget bill (SB 9) by amendment on July 2. Both houses of the General Assembly overrode Governor Bruce Rauner’s veto of SB 9 on July 7, upon which the bill became enacted into law. A RUUPA bill (HB 2603) had previously been introduced and considered in the legislature but had been stagnant since March. It appeared that Illinois would not adopt a version of RUUPA, at least this session, but that has quickly changed.
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