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Subcommittee advances bill to auto-pay small unclaimed-property claims
Summary
The General Laws Housing and Consumer Protection Subcommittee voted 8-0 to report House Bill 1606, which would allow the state treasurer to automatically issue unclaimed-property payments of $5,000 or less when the owner can be verified.
The General Laws Housing and Consumer Protection Subcommittee advanced House Bill 1606 on a unanimous 8-0 vote, recommending the measure for reporting to the full committee.
Delegate Doug Hernandez told the subcommittee HB 1606 — which he called “the cash now act” — would authorize the Treasury Department to automatically send unclaimed-property payments when three conditions are met: there is a single owner, the owner’s identity and…
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