Bill > HB1953

This bill modifies existing law regarding the handling of unclaimed property by the state administrator, specifically focusing on how local governments can receive such property. Under the current law, individuals can claim unclaimed property by filing a verified form, and the administrator can waive this requirement if the apparent owner is identifiable. The bill adds new provisions that allow the administrator to directly pay or deliver property to a local government if the administrator determines the local government is the apparent owner and is likely entitled to the property. Additionally, the bill requires the administrator to annually notify local governments about unclaimed property that may belong to them, including details such as the property's description, value, and any associated conditions. The administrator is also granted the ability to request additional documentation from local governments to verify their entitlement to the property. The new provisions will take effect on January 1, 2026, providing local governments with a more streamlined process for claiming unclaimed property that may belong to them.