Substitute House Bill No. 6990, effective July 1, 2026, amends existing laws to include virtual currency and virtual currency wallets within the definition of "property" subject to seizure and forfeiture in connection with specific criminal violations. The bill allows the Chief State's Attorney or designated attorneys to petition for forfeiture within ninety days of seizure, requiring the state to prove its case by clear and convincing evidence. It also protects owners or lienholders who were unaware of the criminal use of their property from forfeiture and ensures that property intended for legitimate attorney's fees cannot be seized. Additionally, the bill modifies the definitions of "contraband" and "stolen property" to explicitly include virtual currency and wallets, while clarifying that the seizure of virtual currency kiosks is not authorized.

The legislation further refines the forfeiture process by allowing notice to property owners through electronic means and stipulating that property must be returned if a criminal proceeding does not result in a guilty verdict. Proceeds from the sale of forfeited property are directed to the Criminal Injuries Compensation Fund, and the bill mandates that such property be sold at public auction. The bill also introduces new definitions for "virtual currency" and "virtual currency wallet," aligning them with existing statutes, and expands the definition of "Equivalent property" to include virtual currency. Overall, the bill aims to modernize the legal framework surrounding property forfeiture while providing necessary protections for individuals involved in criminal proceedings.

Statutes affected:
Raised Bill: 54-36h, 54-36o
BA Joint Favorable: 54-36h, 54-36o
File No. 270: 54-36h, 54-36o
JUD Joint Favorable: 54-36h, 54-36o
File No. 907: 54-36h, 54-36o, 54-36p
Public Act No. 25-41: 54-36h, 54-36o, 54-36p