Bill > LB183

This bill modifies the Uniform Disposition of Unclaimed Property Act by making several key changes to how the State Treasurer handles abandoned property. The bill updates the notice publication requirements, specifying that between March 1 and March 10 each year, the Treasurer must publish notices in legal newspapers for each county where property owners have a last-known address. The bill clarifies confidentiality provisions for unclaimed property records, restricting public access and commercial property locators from accessing records until 24 months after publication. It also limits professional finders' fees to 10% of the property's total value and requires these finders to fully disclose property details to owners, including that the property can be claimed directly from the State Treasurer free of charge. Additionally, the bill maintains existing provisions for distributing excess funds from the Unclaimed Property Trust Fund to the permanent school fund and allows the State Treasurer to deduct administrative costs before such distributions. The modifications aim to improve transparency, protect property owners' interests, and streamline the process of managing unclaimed property in Nebraska.