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Subcommittee advances bill requiring Treasury and Taxation to coordinate on finding owners of unclaimed property
Summary
House Bill 1640 would direct the Department of Treasury and Department of Taxation to share information to locate owners of unclaimed property; the subcommittee recommended reporting 8-0 after discussion about due diligence and an indeterminate fiscal impact.
The subcommittee recommended reporting House Bill 1640 by an 8-0 recorded vote. The bill would require the Department of Treasury to work with the Department of Taxation to locate owners of unclaimed property and facilitate returns.
Sponsor Delegate Hayes said HB 1640 complements HB 1606 by broadening data-sharing so Treasury can find owners more effectively. "The other…
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