Subject Index Office of the Treasurer

The Office of the Treasurer adopted amendments to the Part titled Revised Uniform Unclaimed Property Act. These amendments require “finders” to be licensed by the office and to charge client fees of less than 10 percent of the collected amount. License applicants must be of good moral character, demonstrate understanding of the Act, pay a $500 initial licensing fee, and pay a $250 renewal fee every three years.

The Office of the Treasurer adopted amendments to the Part titled Secure Choice Savings Program. The rulemaking subjects employers to penalties for failing to remit employee contributions in a timely manner. 

The Illinois General Assembly amended the State Officers and Employees Money Disposition Act. Examiners of unclaimed property, which is reported and remitted to the Illinois state treasurer, and custodians contracted by the state to hold presumed abandoned securities or virtual currency can deduct fees before remittance.

The Office of the State Treasurer adopted amendments to the Achieving a Better Life Experience (ABLE) account program.

The General Assembly amended the State Finance Act to create the State Coronavirus Urgent Remediation Emergency (State CURE) Fund as a federal trust fund within the Office of the Illinois State Treasurer.

The Office of the Treasurer has made a number of changes to the Secure Choice Savings Program (SCSP) that will affect small businesses and nonprofit organizations.

The Office of the Treasurer adopted a new Part titled Technology Development Account (TDA) Program (74 IAC 719; Ill. Reg. 3191).

The Office of the Treasurer wholesale repealed previous rules on abandoned property in response to the General Assembly's passage of the Uniform Law Commission's legislation titled "Revised Uniform Disposition of Unclaimed Property Act," effective in 2018. The state treasurer adopted new rules (74 Ill. Adm. 17121 (effective March 25, 2019)) drawing heavily on the new legislation.

The Illinois State Treasurer's office adopted amendments to the Part titled Procurement (44 Ill. Adm. Code 1400 (effective Jan. 31, 2019)), implementing Public Act 100-43.

The Illinois State Treasurer's office clarified the criteria for which a state fund that supports small nonprofits will demonstrate its funding preferences (74 Ill. Adm. Code 550 (effective Dec. 21, 2018)).

The Office of the Treasurer adopted a new part titled Secure Choice Savings Program (4 Ill. Adm. Code 721 (effective Sept. 25, 2018)), which implements the Secure Choice Savings Program Act and establishes a statewide payroll deduction Individual Retirement Account ("IRA") program open to private sector employees.