An Act amending the act of April 9, 1929 (P.L.343, No.176), known as The Fiscal Code, in disposition of abandoned and unclaimed property, further providing for certificate of finder registration, for . . .notice and publication of lists of property subject to custody and control of the Commonwealth under this article, for income accruing after payment or delivery, for deposit of funds, for determination of claims, for penalties and for interdepartmental cooperation and providing for annual report.
HB484 amends Pennsylvania’s Fiscal Code provisions governing abandoned and unclaimed property. The bill tightens regulation of “finder” services by requiring registration-related statements, capping finder compensation at 15% of recovered property, and increasing penalties for violations. It also expands public notice and online access requirements by directing the Treasury Department to provide searchable unclaimed-property information, electronic claim submission options, direct deposit for approved claims, and public listings of registered finders.
The bill further changes how unclaimed property is handled after it is turned over to the State Treasurer. It preserves an owner’s right to income actually received on the property, increases the amount retained in the trust fund used for reimbursements and claims, and dedicates 5% of certain deposits to outreach and education efforts. It also creates an automatic return process for certain sole-owner claims of $10,000 or less when identity has already been verified, and requires Treasury to notify owners whose claims exceed that threshold.
HB484 also adds a data-sharing program between Treasury and several state agencies, including Revenue, State, Transportation, Labor and Industry, and Human Services, to help locate or verify owners of unclaimed property. The bill requires confidentiality for shared information and limits its use to returning property to rightful owners. In addition, it mandates an annual report to the House and Senate Appropriations Committees detailing unclaimed property by county, property returned, balances held, and outreach activities and costs.
The bill’s impact on state law is to modernize and expand Pennsylvania’s unclaimed-property administration, increase consumer access, and strengthen oversight of third-party finders. It would affect the Treasury Department, state agencies involved in data sharing, owners of unclaimed property, and commercial finders who assist in recovering property. It also raises the civil and criminal stakes for unauthorized or improper finder activity.
No committee discussion or vote history was provided, so there is no recorded sentiment from debate or roll call. Based on the bill text alone, the measure appears aimed at improving public access and property վերադարձ, with a regulatory tone toward finders and a consumer-protection focus. The main likely point of contention is the stricter fee cap and higher penalties for finders, which may be viewed as limiting private recovery services, while the automatic-return and outreach provisions are likely to be seen favorably by owners and consumer advocates.
HB484 would amend the Fiscal Code’s abandoned and unclaimed property article by adding new registration, notice, outreach, claim-processing, data-sharing, and reporting requirements. It would increase penalties for violations involving finder registration and unauthorized recovery activity, require Treasury to maintain more online information and electronic claim tools, authorize automatic return of certain low-value sole-owner property, and direct interagency data sharing to help locate owners. The bill would primarily affect the State Treasurer, commercial finders, state agencies with public-facing records, and individuals or businesses seeking to recover unclaimed property.
No committee transcripts or vote records were provided, so there is no documented legislative sentiment to summarize. On the face of the bill, the policy direction appears broadly pro-consumer and pro-reunification of owners with property, with added administrative tools and outreach. At the same time, the bill is more restrictive toward paid finders, suggesting likely support from consumer-oriented stakeholders and possible resistance from the finder industry.
The most notable point of contention is the regulation of third-party finders: HB484 requires registration-related disclosures, caps compensation at 15% of recovered property, and sharply increases penalties for violations. Those provisions would likely be opposed by commercial recovery services or attorneys who work in this area, while supporters would argue they prevent excessive fees and abuse. A second possible area of debate is the automatic-return process and interagency data sharing, which may raise administrative, privacy, or implementation concerns even though the bill requires confidentiality and limits use to returning property to rightful owners.