Bill > HB88

This bill modifies Montana's unclaimed property laws by allowing the Department of Revenue (the administrator) to automatically return certain unclaimed property directly to its owner without requiring a formal claim filing process. Specifically, the bill permits the administrator to waive the standard claim filing requirement and pay or deliver property directly to a person if three conditions are met: (1) the person is the apparent owner listed on the original unclaimed property report, (2) the administrator has reasonably validated the person's identity and address, and (3) the property's value is $1,000 or less. When using this expedited process, the administrator must document and maintain records proving the owner's identity, proof of ownership, and confirmation that the property was returned. The bill aims to streamline the process of returning small amounts of unclaimed property, making it easier and faster for rightful owners to reclaim their assets. The bill will take effect immediately upon passage and approval, providing an immediate update to the existing unclaimed property regulations in Montana.

Government Affairs

https://bills.legmt.gov/#/laws/bill/2/LC0094