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Committee gives favorable report to HB104 to expand unclaimed-property rules for digital assets
Summary
HB104 would add definitions for digital assets in unclaimed-property law and cap third‑party finder/auction fees so owners and states recover more value; the committee approved a favorable report by voice vote and sent the bill forward.
The committee advanced HB104 after a brief presentation and voice vote, giving the bill a favorable report. The sponsor said the bill updates unclaimed-property law to include digital assets and would add definitions and limits on fees charged by some third‑party, out‑of‑state firms that help liquidate unclaimed property.
A committee member noted the growth of digital and crypto holdings and said the measure aims to ensure property owners or their states recover more of the asset value rather than ceding large percentages to finder firms. The sponsor said HB104 adds definitions for "digital assets" and places caps on fees charged by third parties that auction or liquidate property on behalf of owners or states.
State Treasurer Young Bridges was noted as being present at the meeting. Following brief discussion, a motion to approve HB104 was made and seconded and the committee recorded a voice vote in favor; the committee gave the bill a favorable report.
Next steps: HB104 will proceed out of committee with a favorable report. The transcript records a voice vote and does not provide a roll-call tally or an analysis of fiscal impact during the meeting.
