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Department of Revenue proposes automatic returns for small unclaimed property balances
Summary
House Bill 88 would allow the Department of Revenue to automatically return unclaimed property valued under $1,000 when the agency can validate an owner’s identity and entitlement. The department said the change could return most small unclaimed items without requiring owners to file claims.
House Bill 88 would amend Montana’s Uniform Unclaimed Property Act to permit the Department of Revenue to automatically return unclaimed property valued at less than $1,000 when the department can validate an apparent owner’s identity and entitlement.
Representative Marta Bertoglio introduced the bill at the Department of Revenue’s request and summarized the program: the state holds more than $148 million in unclaimed property—about $133 million in cash and roughly $15 million in…
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