Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee hears agency bill to tighten unclaimed property rules, reduce thresholds and shorten abandonment period for prearranged funeral trusts
Summary
House Bill 11‑27, a Department of Revenue request to revise Washington's unclaimed property laws, was heard by the House Finance Committee; proponents said the changes would accelerate return of funds to owners and curb predatory finder‑fee practices.
House Bill 11‑27, an agency‑request bill from the Department of Revenue to revise Washington's unclaimed property rules, received a staff briefing and multiple proponents in a House Finance Committee public hearing.
Committee staff explained that the bill modifies definitions, dormancy/abandonment periods, due‑diligence notification thresholds and reporting procedures under the Revised Uniform Unclaimed Property Act. Among notable provisions, the bill would reduce the due‑diligence notification threshold to $50 (sponsor later described reducing it…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
