CA AB 1052
withdrawnDigital financial assets.
California · 2025-2026 Regular Session · lower
Quick answers
Did CA AB 1052 pass?
No. CA AB 1052 was withdrawn on 2025-08-29 and is no longer under consideration. Latest recorded action (2025-08-29): In committee: Held under submission.
What is CA AB 1052 about?
The Unclaimed Property Law provides that all intangible personal property of an apparent owner whose last known address or domicile was in the state, including intangible personal property maintained in a deposit or an account, which is held in a fiduciary capacity for the benefit of another person, escheats to the state if for more than 3 years after it becomes payable or distributable, the apparent owner has not taken specified actions showing an interest in or control of the property. This bill would provide that intangible property held in a digital financial asset account escheats to the state 3 years after either written or electronic communication to the owner is returned undelivered, or the date of the last exercise of ownership interest, as defined, by the owner. The bill would require the holder of a private key for a digital financial asset account that has escheated to the state to transfer the digital financial asset to the Controller. The bill would authorize the Controller to appoint a custodian that holds a valid license issued by the Department of Financial Protection and Innovation, as specified.
Who sponsors CA AB 1052?
Valencia is the primary sponsor of CA AB 1052.
Description
The Unclaimed Property Law provides that all intangible personal property of an apparent owner whose last known address or domicile was in the state, including intangible personal property maintained in a deposit or an account, which is held in a fiduciary capacity for the benefit of another person, escheats to the state if for more than 3 years after it becomes payable or distributable, the apparent owner has not taken specified actions showing an interest in or control of the property. This bill would provide that intangible property held in a digital financial asset account escheats to the state 3 years after either written or electronic communication to the owner is returned undelivered, or the date of the last exercise of ownership interest, as defined, by the owner. The bill would require the holder of a private key for a digital financial asset account that has escheated to the state to transfer the digital financial asset to the Controller. The bill would authorize the Controller to appoint a custodian that holds a valid license issued by the Department of Financial Protection and Innovation, as specified.
- Introduced
- 2025-03-28
- Latest action
- 2025-08-29 — In committee: Held under submission.
- Bill type
- bill
- Last updated
- —
Subjects
Sponsors
- Valenciaauthor
Committees
Not provided by source.
Action timeline
2025-02-20
Read first time. To print.
reading-1
2025-02-21
From printer. May be heard in committee March 23.
2025-03-28
From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended.
amendment-introduction,amendment-passage,committee-passage,reading-1,reading-2,referral-committee
2025-03-28
Referred to Coms. on B. & F. and ELECTIONS.
referral-committee
2025-04-01
Re-referred to Com. on B. & F.
referral-committee
2025-04-22
From committee: Do pass and re-refer to Com. on ELECTIONS. (Ayes 9. Noes 0.) (April 21). Re-referred to Com. on ELECTIONS.
committee-passage,committee-passage-favorable,referral-committee
2025-04-28
In committee: Set, first hearing. Hearing canceled at the request of author.
2025-05-01
From committee chair, with author's amendments: Amend, and re-refer to Com. on ELECTIONS. Read second time and amended.
amendment-introduction,amendment-passage,committee-passage,reading-1,reading-2,referral-committee
2025-05-05
Re-referred to Com. on APPR. pursuant to Assembly Rule 96.
referral-committee
2025-05-05
Re-referred to Com. on ELECTIONS.
referral-committee
2025-05-14
In committee: Set, first hearing. Referred to APPR. suspense file.
referral-committee
2025-05-23
From committee: Amend, and do pass as amended. (Ayes 11. Noes 0.) (May 23).
amendment-introduction,amendment-passage,committee-passage
2025-05-23
Read second time and amended. Ordered returned to second reading.
amendment-passage,reading-1,reading-2
2025-05-23
Assembly Rule 63 suspended. (Ayes 51. Noes 16. Page 1644.)
2025-05-27
Read second time. Ordered to third reading.
reading-1,reading-2,reading-3
2025-06-03
Read third time. Passed. Ordered to the Senate. (Ayes 78. Noes 0. Page 2012.)
passage,reading-1,reading-3
2025-06-04
In Senate. Read first time. To Com. on RLS. for assignment.
reading-1,referral-committee
2025-06-18
Referred to Coms. on JUD. and B. & F.I.
referral-committee
2025-07-02
From committee: Amend, and do pass as amended and re-refer to Com. on B. & F.I. (Ayes 13. Noes 0.) (July 1).
amendment-introduction,amendment-passage,committee-passage,referral-committee
2025-07-03
Read second time and amended. Re-referred to Com. on B. & F.I.
amendment-passage,reading-1,reading-2,referral-committee
2025-07-14
Re-referred to Com. on APPR.
referral-committee
2025-07-14
In committee: Hearing postponed by committee.
2025-07-14
Withdrawn from committee.
withdrawal
2025-08-18
In committee: Referred to suspense file.
referral-committee
2025-08-29
In committee: Held under submission.
Versions
Documents
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Votes
Do pass and be re-referred to the Committee on [Elections]
2025-04-21 · pass · 9-0
Member-level votes (9)
- Chen: yes
- Michelle Rodriguez: yes
- Schiavo: yes
- Fong: yes
- Dixon: yes
- Krell: yes
- Blanca Rubio: yes
- Soria: yes
- Valencia: yes
Do pass as amended.
2025-05-23 · pass · 11-0
Member-level votes (15)
- Calderon: yes
- Elhawary: yes
- Hart: yes
- Mark González: yes
- Arambula: yes
- Pacheco: yes
- Solache: yes
- Caloza: yes
- Wicks: yes
- Pellerin: yes
- Fong: yes
- Ta: other
- Sanchez: other
- Dixon: other
- Tangipa: other
AB 1052 Valencia Assembly Third Reading
2025-06-04 · pass · 78-0
Member-level votes (79)
- Sanchez: yes
- Tangipa: yes
- Gallagher: yes
- Blanca Rubio: yes
- Castillo: yes
- Bauer-Kahan: yes
- Haney: yes
- Bains: yes
- Hoover: yes
- Michelle Rodriguez: yes
- Boerner: yes
- Davies: yes
- Ahrens: yes
- Soria: yes
- Arambula: yes
- DeMaio: yes
- Berman: yes
- Rivas: yes
- Valencia: yes
- Wilson: yes
- Ávila Farías: yes
- Gabriel: yes
- Mark González: yes
- Nguyen: yes
- Papan: yes
- Lowenthal: yes
- Lee: yes
- Patterson: yes
- Calderon: yes
- Ward: yes
- Irwin: yes
- Pellerin: yes
- Sharp-Collins: yes
- Ramos: yes
- Connolly: yes
- Aguiar-Curry: yes
- Hart: yes
- Macedo: yes
- Carrillo: yes
- Zbur: yes
- Celeste Rodriguez: yes
- Fong: yes
- Flora: yes
- Bennett: yes
- Quirk-Silva: yes
- Caloza: yes
- Schiavo: yes
- Chen: yes
- Ransom: yes
- Kalra: yes
- Ta: yes
- Ellis: yes
- Alanis: yes
- Lackey: yes
- Krell: yes
- Dixon: yes
- Bryan: yes
- Gipson: yes
- Stefani: yes
- Jackson: yes
- Rogers: yes
- Solache: yes
- Jeff Gonzalez: yes
- Bonta: yes
- Harabedian: yes
- Elhawary: yes
- Wicks: yes
- Addis: yes
- Ortega: yes
- Patel: yes
- Garcia: yes
- McKinnor: yes
- Alvarez: yes
- Hadwick: yes
- Petrie-Norris: yes
- Wallis: yes
- Schultz: yes
- Pacheco: yes
- Muratsuchi: other
Do pass as amended, but first amend, and re-refer to the Committee on [Banking and Financial Institutions]
2025-07-01 · pass · 13-0
Member-level votes (13)
- Niello: yes
- Durazo: yes
- Wahab: yes
- Valladares: yes
- Arreguín: yes
- Umberg: yes
- Stern: yes
- Weber Pierson: yes
- Caballero: yes
- Wiener: yes
- Laird: yes
- Allen: yes
- Ashby: yes
Placed on suspense file
2025-08-18 · pass · 7-0
Member-level votes (7)
- Richardson: yes
- Seyarto: yes
- Caballero: yes
- Cabaldon: yes
- Dahle: yes
- Wahab: yes
- Grayson: yes
Related bills
No related bills recorded for this bill.
Official source
Attribution
Data from openstates_bulk_csv, retrieved 2026-07-24T01:34:27.960412Z
Inspect retained evidence for changes recorded after evidence tracking began:
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