CA AB 1447
in committeeUnclaimed property: escheat to the state.
California · 2025-2026 Regular Session · lower
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Quick answers
Did CA AB 1447 pass?
Not yet. CA AB 1447 is in committee and has not come to a final vote. Latest recorded action (2026-08-10): Action rescinded whereby the bill was read third time, passed, and to Assembly.
What is CA AB 1447 about?
Existing law, the Unclaimed Property Law, governs the disposition of unclaimed property, including the escheat of certain property to the state. Existing law requires every person holding funds or other property that escheated to the state to submit a report to the Controller that includes, among other items, the name and last known address of each person appearing to be the owner of any property, as specified. Existing law requires the Controller, within 165 days of the final date for filing such a report, to mail a notice to each person who appears to be entitled to property valued $50 or more and whose address is listed in the report or is obtained from the Franchise Tax Board, as specified. This bill would provide that the notice described above need only be sent to an address listed in the report or obtained from the Franchise Tax Board when it is a valid deliverable address. The bill would specify that if the address listed in the report is not a valid deliverable address, but the Controller identifies a corrected valid deliverable address, the Controller must mail the notice to the corrected valid deliverable address. Under existing law, the Unclaimed Property Law, if the property holder does not claim or correspond regarding any dividend, distribution, or other item, as specified, held or owing to the holder by a business association, the item escheats to the state within 3 years after the date prescribed for payment or delivery of the item. Under existing law, any intangible interest in a business association escheats to the state if both (1) the interest in the association is owned by a person who for more than 3 years has neither claimed a dividend or other sum nor corresponded in writing or indicated an interest in the item, as specified, and (2) the association does not know the location of the owner at the end of the 3-year period. This bill would expand the provisions regarding the escheatment of intangible interests to include securities and include in the requirements for escheatment that the owner does not respond to the required notice or otherwise indicate an interest within the prescribed time period, as specified. The bill would also amend the notice to be sent to the owners of securities or other intangible interests before they escheat to the state.
Who sponsors CA AB 1447?
Gipson is the primary sponsor of CA AB 1447.
Description
Existing law, the Unclaimed Property Law, governs the disposition of unclaimed property, including the escheat of certain property to the state. Existing law requires every person holding funds or other property that escheated to the state to submit a report to the Controller that includes, among other items, the name and last known address of each person appearing to be the owner of any property, as specified. Existing law requires the Controller, within 165 days of the final date for filing such a report, to mail a notice to each person who appears to be entitled to property valued $50 or more and whose address is listed in the report or is obtained from the Franchise Tax Board, as specified. This bill would provide that the notice described above need only be sent to an address listed in the report or obtained from the Franchise Tax Board when it is a valid deliverable address. The bill would specify that if the address listed in the report is not a valid deliverable address, but the Controller identifies a corrected valid deliverable address, the Controller must mail the notice to the corrected valid deliverable address. Under existing law, the Unclaimed Property Law, if the property holder does not claim or correspond regarding any dividend, distribution, or other item, as specified, held or owing to the holder by a business association, the item escheats to the state within 3 years after the date prescribed for payment or delivery of the item. Under existing law, any intangible interest in a business association escheats to the state if both (1) the interest in the association is owned by a person who for more than 3 years has neither claimed a dividend or other sum nor corresponded in writing or indicated an interest in the item, as specified, and (2) the association does not know the location of the owner at the end of the 3-year period. This bill would expand the provisions regarding the escheatment of intangible interests to include securities and include in the requirements for escheatment that the owner does not respond to the required notice or otherwise indicate an interest within the prescribed time period, as specified. The bill would also amend the notice to be sent to the owners of securities or other intangible interests before they escheat to the state.
- Introduced
- 2025-02-21
- Latest action
- 2026-08-10 — Action rescinded whereby the bill was read third time, passed, and to Assembly.
- Bill type
- bill
- Last updated
- —
Subjects
Sponsors
- Gipsonauthor
Committees
Not provided by source.
Action timeline
Newest first
2026-08-10
Action rescinded whereby the bill was read third time, passed, and to Assembly.
2026-08-10
(Ayes 29. Noes 9.)
2026-08-10
Ordered to third reading.
2026-08-10
Read third time and amended. Ordered to second reading.
2026-08-10
Re-referred to Com. on RLS. pursuant to Senate Rule 29.10(b).
2026-08-10
From committee: Be re-referred to Com. on JUD. pursuant to Senate Rule 29.10(b). (Ayes 5. Noes 0.) Re-referred to Com. on JUD.
2026-08-10
(Ayes 30. Noes 9. Page 5313.)
2025-08-19
In Senate. Held at Desk.
2025-08-18
Ordered to the Senate.
2025-08-18
Withdrawn from Engrossing and Enrolling.
2025-07-17
In Assembly. Ordered to Engrossing and Enrolling.
committee-passage
2025-07-17
Read third time. Passed. Ordered to the Assembly. (Ayes 35. Noes 0. Page 2138.).
passage,reading-1,reading-3
2025-07-15
Read second time. Ordered to Consent Calendar.
reading-1,reading-2
2025-07-14
From committee: Be ordered to second reading file pursuant to Senate Rule 28.8 and ordered to Consent Calendar.
committee-passage,reading-1,reading-2
2025-07-02
From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 13. Noes 0.) (July 1). Re-referred to Com. on APPR.
committee-passage,committee-passage-favorable,referral-committee
2025-05-21
Referred to Com. on JUD.
referral-committee
2025-05-08
In Senate. Read first time. To Com. on RLS. for assignment.
reading-1,referral-committee
2025-05-08
Read third time. Passed. Ordered to the Senate. (Ayes 69. Noes 0. Page 1487.)
passage,reading-1,reading-3
2025-05-01
Read second time. Ordered to Consent Calendar.
reading-1,reading-2
2025-04-30
From committee: Do pass. To Consent Calendar. (Ayes 14. Noes 0.) (April 30).
committee-passage,committee-passage-favorable
2025-04-10
Re-referred to Com. on APPR.
referral-committee
2025-04-09
Read second time and amended.
amendment-passage,reading-1,reading-2
2025-04-08
From committee: Amend, and do pass as amended and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 12. Noes 0.) (April 8).
amendment-introduction,amendment-passage,committee-passage,referral-committee
2025-03-25
Re-referred to Com. on JUD.
referral-committee
2025-03-24
Referred to Com. on JUD.
referral-committee
2025-03-24
From committee chair, with author's amendments: Amend, and re-refer to Com. on JUD. Read second time and amended.
amendment-introduction,amendment-passage,committee-passage,reading-1,reading-2,referral-committee
2025-02-24
Read first time.
reading-1
2025-02-22
From printer. May be heard in committee March 24.
2025-02-21
Introduced. To print.
introduction
Versions
Documents
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Votes
Do pass as amended, and be re-referred to the Committee on [Appropriations] with recommendation: To Consent Calendar
2025-04-08 · pass · 12-0
Member-level votes (12)
- Dixon: yes
- Tangipa: yes
- Zbur: yes
- Kalra: yes
- Papan: yes
- Bryan: yes
- Pacheco: yes
- Connolly: yes
- Harabedian: yes
- Sanchez: yes
- Wicks: yes
- Stefani: yes
Do pass. To Consent Calendar.
2025-04-30 · pass · 14-0
Member-level votes (15)
- Dixon: yes
- Hart: yes
- Mark González: yes
- Pacheco: yes
- Elhawary: yes
- Caloza: yes
- Ta: yes
- Wicks: yes
- Solache: yes
- Fong: yes
- Sanchez: yes
- Arambula: yes
- Alanis: yes
- Calderon: yes
- Pellerin: other
AB 1447 Gipson Consent Calendar Second Day
2025-05-08 · pass · 69-0
Member-level votes (79)
- Gabriel: yes
- McKinnor: yes
- Hoover: yes
- Schiavo: yes
- Lowenthal: yes
- Bains: yes
- Ramos: yes
- Nguyen: yes
- Gipson: yes
- Mark González: yes
- Bryan: yes
- Berman: yes
- Dixon: yes
- Zbur: yes
- Chen: yes
- Haney: yes
- Macedo: yes
- Ortega: yes
- Harabedian: yes
- Patterson: yes
- Ward: yes
- Lackey: yes
- Davies: yes
- Hart: yes
- Michelle Rodriguez: yes
- DeMaio: yes
- Calderon: yes
- Pellerin: yes
- Wicks: yes
- Caloza: yes
- Ellis: yes
- Hadwick: yes
- Garcia: yes
- Ávila Farías: yes
- Papan: yes
- Elhawary: yes
- Ahrens: yes
- Bennett: yes
- Connolly: yes
- Fong: yes
- Patel: yes
- Bauer-Kahan: yes
- Wilson: yes
- Valencia: yes
- Pacheco: yes
- Lee: yes
- Solache: yes
- Castillo: yes
- Alanis: yes
- Stefani: yes
- Jackson: yes
- Krell: yes
- Sharp-Collins: yes
- Bonta: yes
- Ransom: yes
- Rivas: yes
- Soria: yes
- Tangipa: yes
- Rogers: yes
- Alvarez: yes
- Schultz: yes
- Blanca Rubio: yes
- Addis: yes
- Aguiar-Curry: yes
- Petrie-Norris: yes
- Ta: yes
- Muratsuchi: yes
- Quirk-Silva: yes
- Kalra: yes
- Jeff Gonzalez: other
- Carrillo: other
- Arambula: other
- Irwin: other
- Gallagher: other
- Celeste Rodriguez: other
- Wallis: other
- Flora: other
- Boerner: other
- Sanchez: other
Do pass, but first be re-referred to the Committee on [Appropriations] with the recommendation: To Consent Calendar
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
Consent Calendar 2nd
2025-07-17 · pass · 35-0
Member-level votes (40)
- Ochoa Bogh: yes
- Limón: yes
- Smallwood-Cuevas: yes
- Archuleta: yes
- Pérez: yes
- Dahle: yes
- Laird: yes
- Strickland: yes
- Menjivar: yes
- Wiener: yes
- Gonzalez: yes
- Ashby: yes
- Cervantes: yes
- Durazo: yes
- Arreguín: yes
- Cortese: yes
- Wahab: yes
- Caballero: yes
- Niello: yes
- Stern: yes
- Blakespear: yes
- Choi: yes
- Richardson: yes
- Weber Pierson: yes
- McNerney: yes
- Seyarto: yes
- Jones: yes
- Valladares: yes
- Rubio: yes
- Allen: yes
- Grove: yes
- McGuire: yes
- Hurtado: yes
- Cabaldon: yes
- Grayson: yes
- Umberg: other
- Becker: other
- Padilla: other
- Reyes: other
- Alvarado-Gil: other
Related bills
No related bills recorded for this bill.
Official source
Attribution
Data from openstates_api_sync, retrieved 2026-09-26T12:52:26.236191Z
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