Raised Bill No. 5281 - Unclaimed Property

• Removes the $50 minimum threshold for reporting unclaimed property, requiring holders to report all abandoned property to the Treasurer within 90 days of the close of the calendar year in which it is presumed abandoned.

• Requires the Treasurer to post notices of all unclaimed property (previously only items valued at $50 or more) electronically on the Treasurer's website during the 2020 calendar year and every second year thereafter.

• Mandates the Treasurer use at least one additional telecommunications method beyond electronic posting for public notice, including radio, television, satellite, newspaper, magazine, billboard, or mail.

• Requires the posted notice be in a form that is easily accessible and searchable by the public, containing names in alphabetical order and last-known addresses of apparent property owners.

• Authorizes the Treasurer to accept electronic copies of claim forms from persons claiming interests in surrendered property, and requires the Treasurer to notify municipalities by first class mail when their property has escheated to the state.