On Jul. 11, PEN LEG passed bill on abandoned, unclaimed property.
PEN LEG passed SB 24, amends section 1301.19 of Fiscal code re claims for property.
The bill amends PEN Fiscal code to allow the State treasurer to automatically return unclaimed property to the sole owners of property when value is less than $5,000.
This allowance is regardless of whether or not a claim has been filed on this property.
Legislative History
On Mar. 14, 2023, bill was introduced in House; on Jun. 6, 2023, bill passed House.
On Jun. 7, 2023, bill was introduced in Senate; on Jul. 11, 2024, bill passed Senate.
On Jul. 11, 2024, bill was presented to governor and is pending governor action.
Effectiveness
If enacted, the act shall take effect in 180 days.
Jul. 17, 2024 PEN LEG Governor Approval
On Jul. 17, 2024, PEN LEG reported governor approved, Act 81, Jan. 13, 2025 effect.
