Bill Commons

CA AB 1052

withdrawn

Digital financial assets.

California · 2025-2026 Regular Session · lower

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Quick answers

Did CA AB 1052 pass?

No. CA AB 1052 was withdrawn and is no longer under consideration.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

Newest first

  1. 2025-08-29

    In committee: Held under submission.

  2. 2025-08-18

    In committee: Referred to suspense file.

    referral-committee

  3. 2025-07-14

    Re-referred to Com. on APPR.

    referral-committee

  4. 2025-07-14

    In committee: Hearing postponed by committee.

  5. 2025-07-14

    Withdrawn from committee.

    withdrawal

  6. 2025-07-03

    Read second time and amended. Re-referred to Com. on B. & F.I.

    amendment-passage,reading-1,reading-2,referral-committee

  7. 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

  8. 2025-06-18

    Referred to Coms. on JUD. and B. & F.I.

    referral-committee

  9. 2025-06-04

    In Senate. Read first time. To Com. on RLS. for assignment.

    reading-1,referral-committee

  10. 2025-06-03

    Read third time. Passed. Ordered to the Senate. (Ayes 78. Noes 0. Page 2012.)

    passage,reading-1,reading-3

  11. 2025-05-27

    Read second time. Ordered to third reading.

    reading-1,reading-2,reading-3

  12. 2025-05-23

    From committee: Amend, and do pass as amended. (Ayes 11. Noes 0.) (May 23).

    amendment-introduction,amendment-passage,committee-passage

  13. 2025-05-23

    Read second time and amended. Ordered returned to second reading.

    amendment-passage,reading-1,reading-2

  14. 2025-05-23

    Assembly Rule 63 suspended. (Ayes 51. Noes 16. Page 1644.)

  15. 2025-05-14

    In committee: Set, first hearing. Referred to APPR. suspense file.

    referral-committee

  16. 2025-05-05

    Re-referred to Com. on APPR. pursuant to Assembly Rule 96.

    referral-committee

  17. 2025-05-05

    Re-referred to Com. on ELECTIONS.

    referral-committee

  18. 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

  19. 2025-04-28

    In committee: Set, first hearing. Hearing canceled at the request of author.

  20. 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

  21. 2025-04-01

    Re-referred to Com. on B. & F.

    referral-committee

  22. 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

  23. 2025-03-28

    Referred to Coms. on B. & F. and ELECTIONS.

    referral-committee

  24. 2025-02-21

    From printer. May be heard in committee March 23.

  25. 2025-02-20

    Read first time. To print.

    reading-1

Versions

  • 02/20/25 - Introduced — 2025-02-20Compare
  • 03/28/25 - Amended Assembly — 2025-03-28Compare
  • 05/01/25 - Amended Assembly — 2025-05-01Compare
  • 05/23/25 - Amended Assembly — 2025-05-23Compare
  • 07/03/25 - Amended Senate — 2025-07-03Compare
  • AB1052Compare
  • (document, no version)Compare

Documents

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

http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=202520260AB1052

Attribution

Data from openstates_bulk_csv, retrieved 2026-07-24T01:34:27.960412Z

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