Property; Unclaimed Property Act; service charges; effective date; emergency.

Summary

The bill changes the rules for the Unclaimed Property Fund so the state treasurer can subtract certain expenses—like sale costs, mailing, a 4‑6% service charge, a 15% contract fee, and up to 25% for attorney fees—before depositing the remaining money. It also requires detailed records of each claim to be kept and made public after a year. The changes take effect on July 1, 2026 and are declared an emergency.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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