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Bill

HB 2568

TRUST CODE-UNCLAIMED PROPERTY

104th Regular Session Introduced by Jaime Andrade and 50 co-sponsors

Extends equal parentage rights to children regardless of family form or conception method.

Public Act . . . . . . . . . 104-0448
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Bill Summary · HB 2568

HB 2568 — Summary (Equality for Every Family Act; Trust Code & Unclaimed Property)

Status: Sent to the Governor (Enrolled / Re‑enrolled version enacted by General Assembly with amendments).
Introduced: February 7, 2025.
Primary subjects: Illinois Parentage Act of 2015 (parentage/surrogacy), Illinois Trust Code, Revised Uniform Unclaimed Property Act.

Main purpose / intent

HB 2568 is a multi‑topic bill that (1) updates Illinois parentage law to ensure equal treatment of children and parents regardless of family form or method of conception (titled in the text the "Equality for Every Family Act"); (2) strengthens trustee recordkeeping and duties to search for unclaimed trust property; and (3) revises the State’s unclaimed‑property regime — changing presumptions of abandonment, reporting duties, enforcement authority, and procedures for recovery and escheat.

Key provisions

Parentage Act (750 ILCS 46 — “Equality for Every Family Act”)
- Rewrites public policy and many definitions to clarify that parent–child relationships and parental obligations extend equally to all children, regardless of parents’ marital status, age, gender, gender identity, or sexual orientation, and regardless of birth circumstances (including assisted reproduction and surrogacy).
- Adds and updates definitions (e.g., “assisted reproduction,” “gestational surrogacy,” “intended parent,” and genetic testing/parentage metrics).
- Makes numerous technical and substantive edits throughout Articles 1–9 of the Parentage Act (multiple sections listed).

Trust Code (760 ILCS 3)
- Requires trustees to take reasonable steps to control and protect trust property, including searching for and, where practicable, claiming unclaimed or presumptively abandoned property.
- Strengthens recordkeeping: trustees must keep adequate trust administration records and retain governing trust instruments and related trust records for a minimum of 7 years after trust termination; requires a search for presumptively abandoned property before destroying records.

Revised Uniform Unclaimed Property Act (765 ILCS 1026)
- Establishes new or modified definitions and procedures (finders, escheat fees, electronic game‑related property, etc.).
- Presumption of abandonment extended / clarified for certain tax‑deferred accounts: property in plans/accounts that qualify for U.S. tax deferral (including health savings accounts) is presumed abandoned 20 years after account opening (per bill synopsis).
- Requires State agencies to report final compensation due to a State employee who dies while employed as unclaimed property to the Treasurer.
- Makes holders of presumed‑abandoned property hold it in trust for the State Treasurer from the date the property is presumed abandoned.
- Requires the Treasurer to notify a State agency and the Governor’s Office of Management and Budget before escheating property allegedly owned by that agency to the General Revenue Fund if unclaimed after one year.
- Grants the Secretary of the Department of Financial and Professional Regulation authority to order regulated persons to immediately report/remit property in urgent situations.
- Creates a licensing/qualification regime for “finders” who contract with owners to recover property from the Treasurer.
- Adds procedural cooperation duties among State officers/agencies to help locate apparent owners and provisions for outreach/notice (including an administrator contact attempt in the 10th year after account opening).

Who is affected

  • Families and children: clarifies parentage and protections for children born by assisted reproduction or surrogacy; intended parents and gestational surrogates are specifically addressed.
  • Trustees and fiduciaries: increased recordkeeping, retention (7 years), duty to search for unclaimed property, and pre‑destruction search obligations.
  • Holders of accounts and tax‑advantaged plans (e.g., HSAs): new abandonment presumption timelines and reporting obligations.
  • State agencies and the Treasurer: altered reporting, notification, and escheat procedures.
  • Finders and regulated persons: new licensing/authority pathways and enforcement powers for DFPR.

Procedural / timeline notes

  • Passed both legislative chambers (House and Senate) with multiple amendments (House and Senate floor and committee amendments).
  • Governor issued an amendatory veto (August 8, 2025) recommending technical fixes for alignment with the Uniform Parentage Act (2017); the General Assembly later accepted amendatory changes.
  • The enrolled/re‑enrolled version incorporates changes across the Parentage Act, Trust Code, and Unclaimed Property Act. The bill’s synopsis indicates the Treasurer is authorized to adopt rules and that the Act was intended to be effective immediately (check enrolled text for exact effective date language).

If you want, I can:
- Extract and list the exact statutory subsections changed and provide side‑by‑side before/after language for selected sections (e.g., trust record retention or the HSA abandonment rule).
- Produce a short plain‑language explainer for families and for trustees/holders describing new obligations.

Compiled from official sources — confirm details with the bill’s official record.

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