SB 215 Connecticut Senate · 2026 Regular Session

AN ACT CONCERNING THE PRESUMPTION OF ABANDONMENT OF CERTAIN PROPERTY HELD OR OWING BY A BANKING ORGANIZATION.

SB 215 changes how banks determine when certain accounts or funds are deemed abandoned. It presumes deposits, time deposits, investments, checks, and safe deposit box contents are abandoned if owners don’t show activity for 3 years (5 years for safe deposit boxes). Owners can prevent this presumption by making transactions, writing to the bank, or having tax forms (1099s) not returned by the postal service within the timeframe. The bill directly affects individuals or entities with dormant bank accounts in Connecticut, modifying existing abandonment rules effective October 1, 2026.

Bill status in committee 1 of 4 stages cleared

Introduction

Feb 2026

Committee Review

Floor Vote

Governor

Introduced Feb 18, 2026 Last action Mar 23, 2026

Maddy AI version diff · 1 comparison

What changed between versions

Raised Bill → BA Joint Favorable Substitute · 3 edits

MINOR

The bill was reclassified from a 'Raised Bill' to a 'Substitute Bill' with a favorable joint substitute, indicating it has been amended and approved by both legislative chambers. The most significant substantive change is the addition of a new criterion to prove an owner's interest in a deposit: making a payment to the bank for a loan principal or interest due. This expands the definition of active account ownership beyond just deposits or written correspondence. Minor technical edits include changing the header to 'Substitute Bill,' updating page counts, and clarifying terminology regarding time deposit renewals.

Scope change

The bill's scope regarding what constitutes an active account owner has expanded to include loan repayment activity.

ELIGIBILITY

Added a new condition allowing owners to prove interest in a deposit by making a payment to the bank for a loan's principal or interest.

TECHNICAL

Changed the bill title from 'Raised Bill' to 'Substitute Bill' and updated page numbering to reflect the final version.

Clarified language regarding time deposit renewal periods to ensure consistency between the institution and organization terminology.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Mar 10, 2026

Upper · Passed

Joint Favorable Substitute

upper

Feb 18, 2026

Committee

REF. TO JOINT COMM. ON Banking

upper

5 primary · 0 co-sponsors