Leawood, Kan. – June 12, 2026: The California Senate has introduced and passed Senate Bill 1066 (“SB 1066”) that seeks to amend the California Unclaimed Property Law to extend the abandonment period by an additional four years. Cal. S.B. 1066, 2026 Leg., Reg. Sess. The bill has been received by the House and referred to the House Committee on the Judiciary.
If enacted as approved by the Senate, SB 1066 would increase the period for property to be deemed abandoned from the last contact with the owner to seven years. Id. Currently, if a property is subject to escheat in California, most property types would escheat three years after the last customer activity. See generally, Cal. Civ. Proc. Code §§ 1500 et seq.
Presently, SB 1066 does not have an effective date. In California, proposed legislation that does not specify an effective date typically takes effect on January 1 following enactment. Cal. Const. art. IV, § 8(c)(1).
To read California Senate Bill 1066 click here: California Senate Bill 1066.
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