Committee advances bill to move unclaimed-property program to State Treasurer; companion locator bill held

The House Ways and Means Committee voted to return House Bill 25 16 with a due-pass recommendation after staff explained the bill would move administration of unclaimed property from the Arizona Department of Revenue to the State Treasurer's Office.

Supporters told the committee the change would put Arizona in line with most states and could improve rates of reuniting citizens with missing funds. "Arizona currently has around a 22% rate of success in terms of reunifying people with their money," testified Matt Fioridi, who advocated for the transfer and for reforms that would increase return rates.

Fioridi and other witnesses said states that house unclaimed-property programs in treasurer offices often show higher success returning property. Department of Revenue figures included in testimony showed large volumes of receipts and relatively lower amounts returned in recent years; witnesses used those figures to argue a different administrative home could yield better outreach and reunification.

The committee approved HB 25 16 on a 5–4 vote. The companion bill, HB 25 17, would allow registered unclaimed-property locators to receive account information and charge a fee (capped at 30%) to locate and reunite owners with missing property. That bill prompted questions about confidentiality and whether Social Security numbers or other private data would be exposed to for-profit locators.

Research staff and witnesses clarified that the existing public search tools provide names but not confidential identifying information, and the sponsor said the intent is not to grant access to confidential data. Still, members pressed for clarity and for consultation with the State Treasurer's Office on data access rules. The sponsor said discussions with the treasurer were ongoing and the locator bill would be held for additional work.

HB 25 16 moves forward to the floor; HB 25 17 remains under consideration.