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California bills · 2025-2026 Regular Session

California SB 822

Unclaimed property: digital financial assets.

  1. Introduced
  2. In committee
  3. Passed Senate
  4. Passed House
  5. To Governor
  6. Became law

Sponsors

Cosponsors (1)

Summary

Official abstract published by the California legislature· summary

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.

Text versions

Roll-call votes

State vote data last updated Oct 15, 2026, 8:04 PM.

DateVoteResultYour legislators
Sep 13, 2025
Senate		Unfinished Business SB822 Becker et al. ConcurrencepassSet your home in California to see
Sep 13, 2025
House		SB 822 Becker Senate Third Reading By ValenciapassSet your home in California to see
Aug 29, 2025
House		Do pass as amended.passSet your home in California to see
Jul 14, 2025
House		Do pass as amended and be re-referred to the Committee on [Appropriations]passSet your home in California to see
Jul 1, 2025
House		Do pass and be re-referred to the Committee on [Banking and Finance] with recommendation: To Consent CalendarpassSet your home in California to see
May 29, 2025
Senate		Special ConsentpassSet your home in California to see
May 23, 2025
Senate		Do passpassSet your home in California to see
May 5, 2025
Senate		Placed on suspense filepassSet your home in California to see
Apr 22, 2025
Senate		Do pass, but first be re-referred to the Committee on [Appropriations] with the recommendation: To Consent CalendarpassSet your home in California to see

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