Michigan House Bill HB5667

Michigan 2025-2026 Regular Session

• Introduced: 3/4/26
• Refer: 3/4/26

Caption

Property: abandoned; compensation for use of geologic pore space; modify period for transfer to department of treasury. Amends sec. 3 of 1995 PA 29 (MCL 567.223). TIE BAR WITH: HB 5664'26, HB 5665'26, HB 5666'26, HB 5668'26, HB 5669'26

Summary

HB 5667 amends Michigan’s Uniform Unclaimed Property Act to create a special abandonment rule for pore space compensation. Under current law, most property held in the ordinary course of business is presumed abandoned after three years if unclaimed. This bill keeps that general three-year rule in place, but extends the abandonment period to 10 years for compensation related to the use of geologic pore space under Part 653 of the Natural Resources and Environmental Protection Act. The practical effect is to delay when such compensation must be reported and transferred to the Department of Treasury as unclaimed property. The bill also retains the existing rule that property can be considered payable or distributable even if the owner has not made a formal demand or submitted required paperwork. The bill is tie-barred to several related measures, meaning it would not take effect unless the companion bills in the package are also enacted.

Impact

HB 5667 would amend MCL 567.223 in the Uniform Unclaimed Property Act by carving out a 10-year dormancy period for pore space compensation, instead of the standard 3-year period that applies to most abandoned property. This changes when holders must presume such funds abandoned and when they must remit them to the state treasury, affecting holders of these payments, property owners entitled to them, and the state’s unclaimed property administration. The bill does not broadly alter the act beyond this targeted exception, but it would interact with the companion legislation governing geologic pore space compensation and related property rules.

Sentiment

The available context suggests the bill is part of a coordinated legislative package rather than a standalone controversial measure. The caption indicates a technical policy change tied to geologic pore space compensation, and there are no recorded committee transcripts or votes showing debate, opposition, or amendments. Based on the bill text, the likely sentiment is neutral to supportive, with the measure presented as a narrow administrative adjustment to align unclaimed-property timing with the underlying compensation framework.

Contention

The main point of potential contention is the length of the abandonment period. Supporters would likely view the 10-year period as necessary to give owners more time to claim pore space compensation, while critics could argue it delays transfer of dormant funds to the state and complicates unclaimed property administration. Another possible issue is the bill’s tie-bar structure: it cannot take effect unless multiple companion bills are enacted, so its fate is linked to the broader legislative package on geologic pore space and related property provisions.