CA SB 822

enacted

Unclaimed property: digital financial assets.

California · 2025-2026 Regular Session · upper

Description

The Unclaimed Property Law (UPL) prescribes the circumstances under which intangible property escheats to the state, including how and when apparent owners must be notified that their property is at risk of escheating and the manner in which escheated property must be delivered to the State Controller. Intangible property is only subject to the UPL if the apparent owner's last known address is within the state or, if that address is unknown, if there is another link to the state, as specified. Existing law provides how and when securities that escheat to the state pursuant to the UPL may be sold and how the securities or funds from their sale may be returned to their owner. This bill would clarify that digital financial assets are a form of intangible property subject to the UPL. With regard to digital financial assets, the bill would specify that an apparent owner's last known address need not be a complete mailing address if the address is sufficient to identify that it is within the state. The bill would prescribe requirements for holders of digital financial assets to notify apparent owners prior to the assets escheating, which would include a form created by the Controller that may be returned to the holder by the apparent owner to restart the escheatment period, as specified. The bill would specify how escheated digital financial assets must be transferred from the holder to the Controller. The bill would authorize the Controller to select one or more custodians for the management and safekeeping of digital financial assets that have escheated to the state, as specified. The bill would authorize the Controller to convert digital financial assets to fiat currency, as specified. The bill would entitle a person who makes a valid claim for a digital financial asset delivered to the Controller to receive that digital financial asset or, if the asset has been converted, to receive the net proceeds received by the Controller from the sale.

Introduced: 2025-02-21
Status date: —
Latest action: 2025-10-11 — Chaptered by Secretary of State. Chapter 660, Statutes of 2025.
Bill type: bill
Last updated: —

Subjects

Committees

Not provided by source.

Action timeline

2025-02-21
Introduced. To Com. on RLS. for assignment. To print.
introduction,referral-committee
2025-02-24
From printer. May be acted upon on or after March 24.
2025-02-24
Read first time.
reading-1
2025-03-12
Referred to Com. on RLS.
referral-committee
2025-03-25
From committee with author's amendments. Read second time and amended. Re-referred to Com. on RLS.
amendment-passage,committee-passage,reading-1,reading-2,referral-committee
2025-04-02
Re-referred to Com. on JUD.
referral-committee
2025-04-10
From committee with author's amendments. Read second time and amended. Re-referred to Com. on JUD.
amendment-passage,committee-passage,reading-1,reading-2,referral-committee
2025-04-11
Set for hearing April 22.
2025-04-23
From committee: Do pass and re-refer to Com. on APPR. with recommendation: To consent calendar. (Ayes 13. Noes 0. Page 838.) (April 22). Re-referred to Com. on APPR.
committee-passage,committee-passage-favorable,referral-committee
2025-04-25
Set for hearing May 5.
2025-05-05
May 5 hearing: Placed on APPR. suspense file.
2025-05-16
Set for hearing May 23.
2025-05-23
From committee: Do pass. (Ayes 6. Noes 0. Page 1214.) (May 23).
committee-passage,committee-passage-favorable
2025-05-23
Read second time. Ordered to third reading.
reading-1,reading-2,reading-3
2025-05-27
Ordered to special consent calendar.
2025-05-29
Read third time. Passed. (Ayes 38. Noes 0. Page 1330.) Ordered to the Assembly.
passage,reading-1,reading-3
2025-05-29
In Assembly. Read first time. Held at Desk.
reading-1
2025-06-05
Referred to Com. on JUD.
referral-committee
2025-06-11
June 17 set for first hearing canceled at the request of author.
2025-06-13
June 24 set for second hearing canceled at the request of author.
2025-06-23
From committee with author's amendments. Read second time and amended. Re-referred to Com. on JUD.
amendment-passage,committee-passage,reading-1,reading-2,referral-committee
2025-07-02
From committee: Do pass and re-refer to Com. on B. & F. with recommendation: To consent calendar. (Ayes 12. Noes 0.) (July 1). Re-referred to Com. on B. & F.
committee-passage,committee-passage-favorable,referral-committee
2025-07-07
July 7 set for first hearing canceled at the request of author.
2025-07-15
From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 9. Noes 0.) (July 14).
amendment-passage,committee-passage,committee-passage-favorable,referral-committee
2025-07-16
Read second time and amended. Re-referred to Com. on APPR.
amendment-passage,reading-1,reading-2,referral-committee
2025-08-20
August 20 set for first hearing. Placed on APPR. suspense file.
2025-08-29
From committee: Do pass as amended. (Ayes 11. Noes 0.) (August 29).
amendment-passage,committee-passage,committee-passage-favorable
2025-09-02
Read second time and amended. Ordered to second reading.
amendment-passage,reading-1,reading-2
2025-09-03
Read second time. Ordered to third reading.
reading-1,reading-2,reading-3
2025-09-03
Read third time and amended.
amendment-passage,reading-1,reading-3
2025-09-03
Ordered to third reading.
reading-1,reading-3
2025-09-05
Assembly Rule 69(b)(1) suspended.
2025-09-05
Read third time and amended.
amendment-passage,reading-1,reading-3
2025-09-05
Ordered to third reading.
reading-1,reading-3
2025-09-12
Read third time. Passed. (Ayes 80. Noes 0. Page 3406.) Ordered to the Senate.
passage,reading-1,reading-3
2025-09-12
In Senate. Concurrence in Assembly amendments pending.
2025-09-13
Assembly amendments concurred in. (Ayes 37. Noes 0. Page 3029.) Ordered to engrossing and enrolling.
amendment-passage,committee-passage,committee-passage-favorable
2025-09-23
Enrolled and presented to the Governor at 2 p.m.
executive-receipt
2025-10-11
Approved by the Governor.
executive-signature
2025-10-11
Chaptered by Secretary of State. Chapter 660, Statutes of 2025.
became-law

Versions

02/21/25 - Introduced — 2025-02-21Compare
03/25/25 - Amended Senate — 2025-03-25Compare
04/10/25 - Amended Senate — 2025-04-10Compare
06/23/25 - Amended Assembly — 2025-06-23Compare
07/16/25 - Amended Assembly — 2025-07-16Compare
09/02/25 - Amended Assembly — 2025-09-02Compare
09/03/25 - Amended Assembly — 2025-09-03Compare
09/05/25 - Amended Assembly — 2025-09-05Compare
09/18/25 - Enrolled — 2025-09-18Compare
10/11/25 - Chaptered — 2025-10-11Compare
SB822Compare
(document, no version)Compare

Votes

Do pass, but first be re-referred to the Committee on [Appropriations] with the recommendation: To Consent Calendar
2025-04-22 · pass · 13-0
Member-level votes (13)
- Allen: yes
- Wahab: yes
- Umberg: yes
- Durazo: yes
- Caballero: yes
- Laird: yes
- Arreguín: yes
- Stern: yes
- Weber Pierson: yes
- Ashby: yes
- Valladares: yes
- Niello: yes
- Wiener: yes
Placed on suspense file
2025-05-05 · pass · 7-0
Member-level votes (7)
- Richardson: yes
- Grayson: yes
- Seyarto: yes
- Caballero: yes
- Dahle: yes
- Cabaldon: yes
- Wahab: yes
Do pass
2025-05-23 · pass · 6-0
Member-level votes (7)
- Caballero: yes
- Seyarto: yes
- Wahab: yes
- Cabaldon: yes
- Richardson: yes
- Grayson: yes
- Dahle: other
Special Consent
2025-05-29 · pass · 38-0
Member-level votes (40)
- Smallwood-Cuevas: yes
- Grayson: yes
- Grove: yes
- Dahle: yes
- Rubio: yes
- Jones: yes
- Umberg: yes
- Weber Pierson: yes
- Wiener: yes
- Stern: yes
- Padilla: yes
- Arreguín: yes
- Caballero: yes
- Pérez: yes
- McNerney: yes
- Gonzalez: yes
- Durazo: yes
- Cortese: yes
- Archuleta: yes
- Blakespear: yes
- Laird: yes
- Strickland: yes
- Choi: yes
- Valladares: yes
- McGuire: yes
- Niello: yes
- Allen: yes
- Richardson: yes
- Hurtado: yes
- Cervantes: yes
- Seyarto: yes
- Menjivar: yes
- Wahab: yes
- Becker: yes
- Alvarado-Gil: yes
- Ochoa Bogh: yes
- Ashby: yes
- Cabaldon: yes
- Limón: other
- Reyes: other
Do pass and be re-referred to the Committee on [Banking and Finance] with recommendation: To Consent Calendar
2025-07-01 · pass · 12-0
Member-level votes (12)
- Connolly: yes
- Zbur: yes
- Sanchez: yes
- Harabedian: yes
- Kalra: yes
- Dixon: yes
- Pacheco: yes
- Stefani: yes
- Papan: yes
- Macedo: yes
- Bryan: yes
- Bauer-Kahan: yes
Do pass as amended and be re-referred to the Committee on [Appropriations]
2025-07-14 · pass · 9-0
Member-level votes (9)
- Michelle Rodriguez: yes
- Dixon: yes
- Krell: yes
- Schiavo: yes
- Chen: yes
- Soria: yes
- Blanca Rubio: yes
- Valencia: yes
- Fong: yes
Do pass as amended.
2025-08-29 · pass · 11-0
Member-level votes (15)
- Elhawary: yes
- Pellerin: yes
- Fong: yes
- Pacheco: yes
- Calderon: yes
- Arambula: yes
- Mark González: yes
- Wicks: yes
- Caloza: yes
- Ahrens: yes
- Solache: yes
- Sanchez: other
- Ta: other
- Tangipa: other
- Dixon: other
SB 822 Becker Senate Third Reading By Valencia
2025-09-13 · pass · 80-0
Member-level votes (80)
- Addis: yes
- Haney: yes
- Elhawary: yes
- Carrillo: yes
- Ransom: yes
- Berman: yes
- Bauer-Kahan: yes
- Schiavo: yes
- Alvarez: yes
- Caloza: yes
- Hoover: yes
- Nguyen: yes
- Ortega: yes
- Solache: yes
- Lowenthal: yes
- Petrie-Norris: yes
- Gabriel: yes
- Zbur: yes
- DeMaio: yes
- Hadwick: yes
- Irwin: yes
- Tangipa: yes
- Patel: yes
- Kalra: yes
- Sanchez: yes
- Johnson: yes
- Mark González: yes
- Gipson: yes
- Hart: yes
- Calderon: yes
- Wilson: yes
- Soria: yes
- Valencia: yes
- Celeste Rodriguez: yes
- Connolly: yes
- Papan: yes
- Bonta: yes
- Jeff Gonzalez: yes
- Alanis: yes
- Patterson: yes
- Jackson: yes
- Davies: yes
- Pellerin: yes
- Muratsuchi: yes
- Krell: yes
- Chen: yes
- Quirk-Silva: yes
- Bains: yes
- Michelle Rodriguez: yes
- Arambula: yes
- Bennett: yes
- Ávila Farías: yes
- Aguiar-Curry: yes
- Lee: yes
- Castillo: yes
- Wallis: yes
- Stefani: yes
- Ta: yes
- Blanca Rubio: yes
- Gallagher: yes
- Ellis: yes
- Macedo: yes
- McKinnor: yes
- Ramos: yes
- Rivas: yes
- Ahrens: yes
- Dixon: yes
- Rogers: yes
- Ward: yes
- Fong: yes
- Wicks: yes
- Schultz: yes
- Pacheco: yes
- Boerner: yes
- Sharp-Collins: yes
- Bryan: yes
- Harabedian: yes
- Lackey: yes
- Flora: yes
- Garcia: yes
Unfinished Business SB822 Becker et al. Concurrence
2025-09-13 · pass · 37-0
Member-level votes (40)
- Jones: yes
- Richardson: yes
- Menjivar: yes
- Pérez: yes
- Stern: yes
- Smallwood-Cuevas: yes
- Wahab: yes
- Limón: yes
- Padilla: yes
- Grayson: yes
- Caballero: yes
- Cortese: yes
- Reyes: yes
- Ochoa Bogh: yes
- Grove: yes
- Hurtado: yes
- Strickland: yes
- Becker: yes
- Ashby: yes
- Seyarto: yes
- Allen: yes
- Dahle: yes
- Laird: yes
- Weber Pierson: yes
- McGuire: yes
- Alvarado-Gil: yes
- Archuleta: yes
- McNerney: yes
- Blakespear: yes
- Wiener: yes
- Niello: yes
- Arreguín: yes
- Cervantes: yes
- Rubio: yes
- Umberg: yes
- Cabaldon: yes
- Durazo: yes
- Gonzalez: other
- Valladares: other
- Choi: other

Related bills

No related bills recorded for this bill.

Official source

http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=202520260SB822

Attribution

Data from openstates_api_sync, retrieved 2026-07-27T17:39:45.775964Z

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