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PA HB484
Bill
Status
2/4/2025
Primary Sponsor
Ryan Bizzarro
Click for details
AI Summary
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Caps fees for registered property finders at 15% of the amount recovered and increases penalties for violations to $10,000 (first offense), $15,000 (second offense), and up to $100,000 with felony charges for third or subsequent offenses
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Requires automatic return of unclaimed property valued at $10,000 or less to verified sole owners without requiring a formal claim filing
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Mandates the State Treasurer use 5% of unclaimed property deposits for public education and outreach campaigns, including direct mailings, advertisements, and prominent links on state agency websites
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Establishes annual data sharing between the Treasury Department and five state agencies (Revenue, State, Transportation, Labor and Industry, and Human Services) to locate and verify property owners
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Requires the State Treasurer to submit an annual report by July 30 to Appropriations Committee leadership detailing unclaimed property remitted, returned, and held by county, plus outreach costs incurred
Legislative Description
In disposition of abandoned and unclaimed property, further providing for certificate of finder registration, for notice and publication of lists of property subject to custody and control of the Commonwealth under this article, for income accruing after payment or delivery, for deposit of funds, for determination of claims, for penalties and for interdepartmental cooperation and providing for annual report.
Last Action
Referred to Appropriations
2/4/2025