Bill > HB1176

This bill makes several key changes to Pennsylvania's laws regarding estate succession and unclaimed property. First, it modifies the order of estate inheritance by introducing a new provision that directs unclaimed estates to an "Endowed Community Fund" instead of defaulting to the Commonwealth. The bill establishes specific criteria for these community funds, including requirements such as being in existence for at least 10 years, supporting broad charitable activities, and maintaining an independent governing body. Additionally, the legislation increases the threshold for direct payment of deposit accounts from $10,000 to $20,000, allowing family members (in a specified order of preference) to more easily access a deceased person's funds without going through formal probate processes. The bill also provides detailed definitions of "Community Foundation" and "Endowed Community Fund," outlining specific qualifications such as tax-exempt status, public support, and annual financial audits. The changes will take effect in stages, with most provisions becoming active within 60-180 days of passage, ensuring a structured implementation of the new regulations.

Budget and Finance, Justice

https://www.legis.state.pa.us/cfdocs/billinfo/bill_history.cfm?syear=2025&sind=0&body=H&type=B&bn=1176