Bill > SB0155

This bill modifies provisions related to unclaimed property by allowing the commission to share tax return information with the unclaimed property administrator, including email addresses, for the purpose of returning unclaimed property to its rightful owners, and clarifies that the commission is not liable for the administrator's use of this information. It also adjusts the definition of an "owner" for unclaimed property to include heirs of a decedent who qualified as an owner, and allows for a single claim to be filed on behalf of multiple heirs for property valued at $100,000 or less, provided they agree to distribute the property equitably and indemnify the state. Additionally, the bill updates the presumed abandonment date for tax-deferred and tax-exempt retirement accounts to align with federal tax laws regarding mandatory distributions and clarifies the process for claiming property, including provisions for creditors and claims involving deceased owners.

Budget and Finance, Government Affairs

https://le.utah.gov/~2026/bills/static/SB0155.html