Holders of unclaimed property should take note that Illinois’ state budget bill, SB 9, enacted July 7, 2017, includes significant changes to Illinois’ unclaimed property law. Just days before it was enacted, the Illinois General Assembly amended SB 9 to include a modified version of the Uniform Law Commission’s 2016 Revised Uniform Unclaimed Property Act. Illinois’ new unclaimed property law will become effective January 1, 2018 and will repeal the state’s current unclaimed property law, the Uniform Disposition of Unclaimed Property Act.

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