HB 484 — An Act amending the act of April 9, 1929 (P.L.343, No.176), known as The Fiscal Code, in disposition of abandoned and unclaimed property, further providing for certificate of finder registration, for notice and publication of lists of property subject to custody and control of the Commonwealth under this article, for income accruing after payment or delivery, for deposit of funds, for determination of claims, for penalties and for interdepartmental cooperation and providing for annual report.

PRINTER'S NO.   467

                  THE GENERAL ASSEMBLY OF PENNSYLVANIA



                      HOUSE BILL
                      No. 484
                                             Session of
                                               2025

     INTRODUCED BY BIZZARRO, GUENST, PROBST, SANCHEZ, MALAGARI,
        KENYATTA, DONAHUE, SCHLOSSBERG, DALEY, GREEN AND CEPEDA-
        FREYTIZ, FEBRUARY 4, 2025

     REFERRED TO COMMITTEE ON APPROPRIATIONS, FEBRUARY 4, 2025


                                  AN ACT
 1   Amending the act of April 9, 1929 (P.L.343, No.176), entitled
 2      "An act relating to the finances of the State government;
 3      providing for cancer control, prevention and research, for
 4      ambulatory surgical center data collection, for the Joint
 5      Underwriting Association, for entertainment business
 6      financial management firms, for private dam financial
 7      assurance and for reinstatement of item vetoes; providing for
 8      the settlement, assessment, collection, and lien of taxes,
 9      bonus, and all other accounts due the Commonwealth, the
10      collection and recovery of fees and other money or property
11      due or belonging to the Commonwealth, or any agency thereof,
12      including escheated property and the proceeds of its sale,
13      the custody and disbursement or other disposition of funds
14      and securities belonging to or in the possession of the
15      Commonwealth, and the settlement of claims against the
16      Commonwealth, the resettlement of accounts and appeals to the
17      courts, refunds of moneys erroneously paid to the
18      Commonwealth, auditing the accounts of the Commonwealth and
19      all agencies thereof, of all public officers collecting
20      moneys payable to the Commonwealth, or any agency thereof,
21      and all receipts of appropriations from the Commonwealth,
22      authorizing the Commonwealth to issue tax anticipation notes
23      to defray current expenses, implementing the provisions of
24      section 7(a) of Article VIII of the Constitution of
25      Pennsylvania authorizing and restricting the incurring of
26      certain debt and imposing penalties; affecting every
27      department, board, commission, and officer of the State
28      government, every political subdivision of the State, and
29      certain officers of such subdivisions, every person,
30      association, and corporation required to pay, assess, or
31      collect taxes, or to make returns or reports under the laws
32      imposing taxes for State purposes, or to pay license fees or
33      other moneys to the Commonwealth, or any agency thereof,
 1      every State depository and every debtor or creditor of the
 2      Commonwealth," in disposition of abandoned and unclaimed
 3      property, further providing for certificate of finder
 4      registration, for notice and publication of lists of property
 5      subject to custody and control of the Commonwealth under this
 6      article, for income accruing after payment or delivery, for
 7      deposit of funds, for determination of claims, for penalties
 8      and for interdepartmental cooperation and providing for
 9      annual report.
10      The General Assembly of the Commonwealth of Pennsylvania
11   hereby enacts as follows:
12      Section 1.    Section 1301.11a(a)1 and (b)3(iii) of the act of
13   April 9, 1929 (P.L.343, No.176), known as The Fiscal Code, are
14   amended and subsection (b) is amended by adding a clause to
15   read:
16      Section 1301.11a.    Certificate of Finder Registration.--(a)
17   Except for a person who is admitted to practice law before a
18   court of a Federal or State jurisdiction or subject to section
19   1301.11(i), a person may not on behalf of another:
20      1.    engage in an activity, including advertising, soliciting
21   or offering to provide services, for the purpose of locating,
22   delivering, recovering or assisting in the recovery of abandoned
23   or unclaimed property; and
24      * * *
25      (b)    An application for a certificate of registration shall
26   be in writing and on the form prescribed by the State Treasurer
27   and accompanied by a recent full face color photograph of the
28   applicant. In addition to information that may be requested by
29   the State Treasurer, the application shall provide the
30   following:
31      * * *
32      3.    A statement that, to the applicant's knowledge, the
33   applicant is not the subject of an ongoing investigation or
34   prosecution involving an alleged violation of a provision of


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 1   this article or an offense of:
 2      * * *
 3      (iii)    perjury, false swearing, fraud or other offense as
 4   enumerated in 18 Pa.C.S. Ch. 49 Subch. A or its equivalent if
 5   committed in another jurisdiction; [and]
 6      3.1.    A statement that the applicant agrees to limit the
 7   applicant's fee, compensation, commission or other remuneration
 8   for the purpose of locating, delivering, recovering or assisting
 9   in the recovery of abandoned or unclaimed property to no more
10   than fifteen per centum of the amount recovered; and
11      * * *
12      Section 2.     Section 1301.12(b)3 of the act is amended,
13   subsection (b) is amended by adding a clause and the section is
14   amended by adding a subsection to read:
15      Section 1301.12.     Notice and Publication of Lists of Property
16   Subject to Custody and Control of the Commonwealth under this
17   Article.--* * *
18      (b)    The published notice shall be entitled "Notice of Names
19   of Persons Appearing to be Owners of Abandoned and Unclaimed
20   Property," and shall contain:
21      * * *
22      3.    A statement that a proof of claim should be presented by
23   the owner to the holder within three (3) months from the date of
24   the published notice, and that thereafter claims should be filed
25   with the State Treasurer[.];
26      4.    Information on how to access the Internet website of the
27   Treasury Department to search for any other unclaimed property
28   and information on the electronic transfer of money for the
29   payment of a claim allowed by the State Treasurer.
30      * * *

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 1      (g)    The State Treasurer shall maintain on the Internet
 2   website of the Treasury Department the following information on
 3   an ongoing basis:
 4      1.    A description of each unclaimed property held by the
 5   Commonwealth.
 6      2.    A searchable database, including identifying information
 7   kept by the State Treasurer, to assist an owner in identifying
 8   the owner's unclaimed property.
 9      3.    Each report required under section 1301.28c.
10      4.    Allow for electronic submission for documentation deemed
11   appropriate by the State Treasurer.
12      5.    Authorize direct deposit of money by electronic transfer
13   for the payment of a claim allowed by the State Treasurer.
14      6.    A list of each person with a certificate of registration
15   under section 1301.11a, the date that each certificate of
16   registration expires and notice when each certificate of
17   registration has been revoked or renewal has been refused by the
18   State Treasurer under section 1301.11b.
19      Section 3.    Section 1301.15 of the act is amended to read:
20      Section 1301.15.    Income Accruing After Payment or
21   Delivery.--[When] Except as provided under section 1301.18(c),
22   when property is paid or delivered to the State Treasurer under
23   this article, the owner is entitled to receive income or other
24   increments actually received by the State Treasurer.
25      Section 4.    Section 1301.18(a) of the act is amended and the
26   section is amended by adding a subsection to read:
27      Section 1301.18.    Deposit of Funds.--(a)   Except as provided
28   in subsection (a.1), all funds received under this article,
29   including the proceeds from the sale of property under section
30   1301.17, shall forthwith be deposited by the State Treasurer in

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 1   the General Fund of the Commonwealth except that the State
 2   Treasurer shall retain in a separate trust fund an amount not
 3   exceeding twenty-five thousand dollars ($25,000) plus [twenty]
 4   twenty-five per centum of deposits and sums paid to the State
 5   Treasurer under subsection (c) of section 1301.13 during the
 6   preceding twelve (12) months from which the State Treasurer
 7   shall make reimbursements under section 1301.14 and prompt
 8   payment of claims duly allowed under section 1301.19. Before
 9   making the deposit, the State Treasurer shall record the name
10   and last known address of each person appearing from the
11   holders' reports to be entitled to the property and of the name
12   and last known address of each insured person or annuitant, and
13   with respect to each policy or contract listed in the report of
14   an insurer, its number, the name of the insurer and the amount
15   due. The record with respect to any specific claim shall be
16   available to the claimant at all regular business hours.
17      * * *
18      (c)   The State Treasurer shall use five per centum of
19   deposits and sums paid to the State Treasurer under subsection
20   (c) of section 1301.13 during the preceding twelve (12) months
21   to implement an education and outreach campaign to inform the
22   public of the unclaimed property process, including through the
23   use of direct mailings, advertisements and educational
24   materials. The State Treasurer shall design educational
25   materials suitable for the direct mailings, including
26   information on finding and claiming unclaimed property. In
27   implementing this subsection, the State Treasurer shall have the
28   authority to enter a memorandum of understanding with each State
29   agency that contacts the public for the purpose of including the
30   educational materials in other types of direct mailings,

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 1   including State tax forms and annual professional licensure
 2   renewals, and to prominently display a link to find and claim
 3   unclaimed property on the publicly accessible Internet websites
 4   of each State agency.
 5      Section 5.    Section 1301.20 of the act is amended by adding
 6   subsections to read:
 7      Section 1301.20.     Determination of Claims.--* * *
 8      (c)     The State Treasurer shall waive a requirement of a claim
 9   filed under this article and automatically return unclaimed
10   property held by the State Treasurer if all of the following
11   apply:
12      1.    The person receiving the property is the sole owner of
13   the property.
14      2.    The property is valued at ten thousand dollars ($10,000)
15   or less.
16      3.    There is evidence sufficient to establish to the
17   reasonable satisfaction of the State Treasurer that the person
18   is the owner of the property.
19      4.    Identifying information has been verified during the
20   preceding year in accordance with section 1301.28a.
21      (d)     If the State Treasurer has identified a person who would
22   otherwise qualify for automatic reimbursement under subsection
23   (c), but the claim exceeds ten thousand dollars ($10,000), the
24   Treasury Department shall notify the person through the use of
25   the verified identifying information under section 1301.11 and
26   provide information on how to file a claim under this article.
27      Section 6.    Section 1301.25(d) of the act is amended to read:
28      Section 1301.25.     Penalties.--* * *
29      (d)     A person who is found to have violated section 1301.11
30   or 1301.11a, in addition to other sanctions under this article,

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 1   shall be guilty of a misdemeanor of the third degree and shall,
 2   upon conviction, be sentenced to pay a fine not to exceed [one
 3   thousand dollars ($1,000)] ten thousand dollars ($10,000) for
 4   the first offense. A person who is found guilty of a
 5   [subsequent] second offense shall be subject to a fine not to
 6   exceed [five thousand dollars ($5,000).] fifteen thousand
 7   dollars ($15,000). A person who is found guilty of a third or
 8   subsequent offense shall be guilty of a felony of the third
 9   degree and subject to a fine not to exceed one hundred thousand
10   dollars ($100,000).
11      Section 7.     Section 1301.28a(c) of the act is amended and the
12   section is amended by adding a subsection to read:
13      Section 1301.28a.    Interdepartmental Cooperation.--* * *
14      (b.1)   For the purpose of implementing this article, and in
15   accordance with Federal law, the Treasury Department shall
16   establish a data sharing program to locate or verify identifying
17   information of individuals listed in the Treasury Department's
18   records as owners of unclaimed property at least annually with
19   the collaboration of the following agencies:
20      (1)   The Department of Revenue.
21      (2)   The Department of State.
22      (3)   The Department of Transportation.
23      (4)   The Department of Labor and Industry.
24      (5)   The Office of Income Maintenance in the Department of
25   Human Services.
26      (c)   Upon receipt of the information referred to in
27   subsections (a) [and], (b) and (b.1), the Treasury Department
28   shall keep the information confidential and shall use it solely
29   to assist in the process of returning unclaimed property to its
30   rightful owner.

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 1      Section 8.   The act is amended by adding a section to read:
 2      Section 1301.28c.   Annual Report.--The State Treasurer shall
 3   prepare an annual report on the status of unclaimed property in
 4   this Commonwealth, including the amount of unclaimed property
 5   remitted to the Commonwealth by county, the amount of unclaimed
 6   property returned to the owner by county, the current balance of
 7   unclaimed property held by the Commonwealth by county and the
 8   actions taken by the State Treasurer under section 1301.18(c) to
 9   increase awareness of unclaimed property and the cost incurred
10   for the actions. The State Treasurer shall submit the report no
11   later than July 30 of each year to the chair and minority chair
12   of the Appropriations Committee of the Senate and chair and
13   minority chair of the Appropriations Committee of the House of
14   Representatives.
15      Section 9.   This act shall take effect in 60 days.




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