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Department of Revenue seeks authority to automatically return small unclaimed property under $1,000
Summary
HB 88 would allow the Department of Revenue to automatically return unclaimed property with value under $1,000 when identity and entitlement can be validated (using income tax data); department estimates about 90% of unclaimed items meet that threshold.
Representative Marta Bertoglio presented House Bill 88 at the Department of Revenue’s request to allow the agency to automatically return unclaimed property valued at less than $1,000 when it can validate a claimant’s identity and entitlement. The department currently requires an owner to file a claim to recover property; Deputy Administrator Renee Lemon said automatic return in…
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