Bill Commons

CA AB 2031

withdrawn

Unclaimed property.

California · 2025-2026 Regular Session · lower

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Quick answers

Did CA AB 2031 pass?

No. CA AB 2031 was withdrawn and is no longer under consideration. Latest recorded action (2026-08-13): In committee: Held under submission.

What is CA AB 2031 about?

Existing law, the Unclaimed Property Law, governs the disposition of unclaimed property, including the escheat of certain property to the state. Existing law provides that any intangible interest in a business association escheats to this state if (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 with the association or otherwise indicated an interest, as specified, and (2) the association does not know the location of the owner. This bill would apply the 2 conditions above to any security or other intangible interest in a business association. The bill would provide that a security or interest does not escheat if either (1) the business association issues to the owner a dividend or other distribution that is, at least once every 3 years, negotiated, redeemed, or automatically deposited in an owner's account, as specified, or (2) the business association does not issue dividends or other distributions, or issues dividends that are automatically reinvested in the owner's account, and the holder's communication to the owner is not returned as undeliverable. The security or interest would escheat to the state, as specified, if the holder's communication to the owner is returned as undeliverable. The security or interest would also escheat to the state if the business association or its agent issues a dividend or other distribution to the owner at least once per year, and over a 3-year period none of that dividend or other distribution is negotiated, redeemed, or automatically deposited in an owner's account, except as specified. The bill would clarify that its provisions do not apply to a digital financial asset.

Who sponsors CA AB 2031?

Petrie-Norris is the primary sponsor of CA AB 2031.

Description

Existing law, the Unclaimed Property Law, governs the disposition of unclaimed property, including the escheat of certain property to the state. Existing law provides that any intangible interest in a business association escheats to this state if (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 with the association or otherwise indicated an interest, as specified, and (2) the association does not know the location of the owner. This bill would apply the 2 conditions above to any security or other intangible interest in a business association. The bill would provide that a security or interest does not escheat if either (1) the business association issues to the owner a dividend or other distribution that is, at least once every 3 years, negotiated, redeemed, or automatically deposited in an owner's account, as specified, or (2) the business association does not issue dividends or other distributions, or issues dividends that are automatically reinvested in the owner's account, and the holder's communication to the owner is not returned as undeliverable. The security or interest would escheat to the state, as specified, if the holder's communication to the owner is returned as undeliverable. The security or interest would also escheat to the state if the business association or its agent issues a dividend or other distribution to the owner at least once per year, and over a 3-year period none of that dividend or other distribution is negotiated, redeemed, or automatically deposited in an owner's account, except as specified. The bill would clarify that its provisions do not apply to a digital financial asset.

Introduced
2026-06-11
Latest action
2026-08-13 — In committee: Held under submission.
Bill type
bill
Last updated
—

Subjects

Sponsors

  • Petrie-Norrisauthor

Committees

Not provided by source.

Action timeline

Newest first

  1. 2026-08-13

    In committee: Held under submission.

  2. 2026-08-03

    In committee: Referred to APPR. suspense file.

  3. 2026-07-01

    From committee: Do pass and re-refer to Com. on APPR. (Ayes 13. Noes 0.) (June 30). Re-referred to Com. on APPR.

    committee-passage,committee-passage-favorable,referral-committee

  4. 2026-06-15

    Re-referred to Com. on JUD.

    referral-committee

  5. 2026-06-12

    Withdrawn from committee.

    withdrawal

  6. 2026-06-12

    Re-referred to Com. on RLS.

    referral-committee

  7. 2026-06-11

    From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on E., U & C.

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

  8. 2026-06-03

    Referred to Com. on E., U & C.

    referral-committee

  9. 2026-05-21

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

    reading-1,referral-committee

  10. 2026-05-21

    Read third time. Passed. Ordered to the Senate. (Ayes 68. Noes 0. Page 5229.)

    passage,reading-1,reading-3

  11. 2026-05-14

    Read second time. Ordered to Consent Calendar.

    reading-1,reading-2

  12. 2026-05-13

    From committee: Do pass. To Consent Calendar. (Ayes 15. Noes 0.) (May 13).

    committee-passage,committee-passage-favorable

  13. 2026-04-23

    From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 18. Noes 0.) (April 22). Re-referred to Com. on APPR.

    committee-passage,committee-passage-favorable,referral-committee

  14. 2026-03-02

    Referred to Com. on U. & E.

    referral-committee

  15. 2026-02-18

    From printer. May be heard in committee March 20.

  16. 2026-02-17

    Read first time. To print.

    reading-1

Versions

Documents

Votes

  • Do pass and be re-referred to the Committee on [Appropriations] with recommendation: To Consent Calendar

    2026-04-22 · pass · 18-0

    Member-level votes (18)
    • Boerner: yes
    • Kalra: yes
    • Calderon: yes
    • Davies: yes
    • Hart: yes
    • Irwin: yes
    • Ta: yes
    • Schiavo: yes
    • Chen: yes
    • Papan: yes
    • Rogers: yes
    • Wallis: yes
    • Zbur: yes
    • Patterson: yes
    • Harabedian: yes
    • Schultz: yes
    • Mark González: yes
    • Petrie-Norris: yes

  • Do pass. To Consent Calendar.

    2026-05-13 · pass · 15-0

    Member-level votes (15)
    • Pacheco: yes
    • Krell: yes
    • Mark González: yes
    • Ellis: yes
    • Sharp-Collins: yes
    • Hoover: yes
    • Tangipa: yes
    • Wicks: yes
    • Bauer-Kahan: yes
    • Ta: yes
    • Caloza: yes
    • Calderon: yes
    • Fong: yes
    • Solache: yes
    • Pellerin: yes

  • AB 2031 Petrie-Norris Consent Calendar Second Day

    2026-05-21 · pass · 68-0

    Member-level votes (80)
    • Ta: yes
    • Stefani: yes
    • Mark González: yes
    • Soria: yes
    • Dixon: yes
    • Ortega: yes
    • Sharp-Collins: yes
    • Ávila Farías: yes
    • Berman: yes
    • Schiavo: yes
    • Rogers: yes
    • Papan: yes
    • Petrie-Norris: yes
    • Caloza: yes
    • Ahrens: yes
    • Ellis: yes
    • Haney: yes
    • Solache: yes
    • Nguyen: yes
    • Patel: yes
    • Tangipa: yes
    • Bonta: yes
    • Aguiar-Curry: yes
    • Calderon: yes
    • Patterson: yes
    • Quirk-Silva: yes
    • Kalra: yes
    • Davies: yes
    • Lee: yes
    • Wallis: yes
    • Alanis: yes
    • Michelle Rodriguez: yes
    • Boerner: yes
    • Krell: yes
    • Ransom: yes
    • Bryan: yes
    • Castillo: yes
    • Rivas: yes
    • Pacheco: yes
    • Bains: yes
    • Harabedian: yes
    • Zbur: yes
    • Valencia: yes
    • Carrillo: yes
    • Fong: yes
    • Addis: yes
    • Connolly: yes
    • Gipson: yes
    • Elhawary: yes
    • Pellerin: yes
    • Ward: yes
    • Jeff Gonzalez: yes
    • McKinnor: yes
    • Hadwick: yes
    • Bennett: yes
    • Hart: yes
    • DeMaio: yes
    • Gallagher: yes
    • Jackson: yes
    • Johnson: yes
    • Flora: yes
    • Macedo: yes
    • Muratsuchi: yes
    • Blanca Rubio: yes
    • Sanchez: yes
    • Irwin: yes
    • Alvarez: yes
    • Bauer-Kahan: yes
    • Celeste Rodriguez: other
    • Lowenthal: other
    • Ramos: other
    • Wilson: other
    • Wicks: other
    • Garcia: other
    • Lackey: other
    • Arambula: other
    • Schultz: other
    • Hoover: other
    • Gabriel: other
    • Chen: other

  • Do pass, but first be re-referred to the Committee on [Appropriations]

    2026-06-30 · pass · 13-0

    Member-level votes (13)
    • Wahab: yes
    • Niello: yes
    • Umberg: yes
    • Laird: yes
    • Stern: yes
    • Ashby: yes
    • Allen: yes
    • Valladares: yes
    • Weber Pierson: yes
    • Wiener: yes
    • Caballero: yes
    • Reyes: yes
    • Durazo: yes

Related bills

No related bills recorded for this bill.

Official source

http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=202520260AB2031

Attribution

Data from openstates_api_sync, retrieved 2026-08-01T14:16:02.923288Z

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