Bill > S00994

This bill directs the Office of the New York State Comptroller to conduct a comprehensive study on the feasibility of automatically returning unclaimed funds to their rightful owners without requiring those owners to actively apply for the funds. The study will explore the potential for automatic return of both existing unclaimed funds and funds that will be received in the future. By January 1, 2026, the Comptroller must deliver a detailed report to key state leaders, including the Governor, Senate leaders, and Assembly leaders. The report will include the study's findings and specific legislative recommendations for implementing an automatic return process for unclaimed funds. This initiative aims to improve the process of returning lost or forgotten money to its original owners by potentially creating a more proactive and owner-friendly system for handling unclaimed funds.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S994