LA HB947

Digital assets in accounts are presumed abandoned after 3 years of no owner activity, such as transactions, electronic access, or communication with the holder

Holders must transfer abandoned digital assets in native form to a qualified custodian designated by the State Treasurer within 30 days of reporting; holders with only partial private keys must retain assets until full transfer capability exists

The qualified custodian must hold digital assets in native form for a minimum of 3 years before liquidation, allowing owners to reclaim assets during this period

The State Treasurer must select a qualified custodian within 1 year based on criteria including secure storage, cybersecurity measures, private key management capability, regulatory compliance, and Bank Secrecy Act qualification

All rewards, interest, and airdrops from custodied assets accrue to a segregated unclaimed property fund for digital asset administration, with annual legislative reporting required on proceeds and expenditures