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Council enacts ordinance creating fund for Indiana unclaimed transactions
Summary
On final reading by title, the council passed Ordinance 8-2025 to create a local fund for Indiana unclaimed transactions; councilors discussed the procedural steps for transferring such funds to the state.
The council took Ordinance 8-2025 on final reading by title and approved creation of a local fund for Indiana unclaimed transactions. Staff had previously explained the procedural steps required to collect and remit unclaimed funds to the state and said the new local fund is part of that process.
Council members asked brief procedural questions about how the funds are handled. The presiding officer confirmed the ordinance will be enforced and staff will complete the required steps. The council approved the ordinance on a roll-call vote.
