HB 488 — 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 claim for property paid or delivered.

PRINTER'S NO.   472

                  THE GENERAL ASSEMBLY OF PENNSYLVANIA



                      HOUSE BILL
                      No. 488
                                             Session of
                                               2025

     INTRODUCED BY M. BROWN, KAUFFMAN, MARCELL, COOPER, ROWE AND
        BASHLINE, FEBRUARY 4, 2025

     REFERRED TO COMMITTEE ON STATE GOVERNMENT, 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,
34      every State depository and every debtor or creditor of the
 1       Commonwealth," in disposition of abandoned and unclaimed
 2       property, further providing for claim for property paid or
 3       delivered.
 4       The General Assembly of the Commonwealth of Pennsylvania
 5   hereby enacts as follows:
 6       Section 1.   Section 1301.19(b) of the act of April 9, 1929
 7   (P.L.343, No.176), known as The Fiscal Code, amended July 17,
 8   2024 (P.L.910, No.81), is amended to read:
 9       Section 1301.19.   Claim for Property Paid or Delivered.--* *
10   *
11       (b)   Regardless of whether a claim is filed under subsection
12   (a), the State Treasurer may pay or deliver any property paid or
13   delivered to the Commonwealth under this article, or the
14   proceeds from the sale of the property, to a person if the State
15   Treasurer finds that a report filed under section 1301.11
16   identifies the person as the sole owner of the property and the
17   value of the property or proceeds is less than five [hundred
18   dollars ($500)] thousand dollars ($5,000).
19       Section 2.   This act shall take effect in 60 days.




20250HB0488PN0472                   - 2 -