AN ACT IMPLEMENTING THE TREASURER'S RECOMMENDATIONS FOR REVISIONS TO THE UNCLAIMED PROPERTY PROGRAM AND SECOND INJURY FUND.

This bill updates the state's unclaimed property program by modernizing definitions to include virtual currency and clarifying terms like "gift certificate" to cover various digital payment methods. It affects businesses, banks, and financial institutions that hold property belonging to others, requiring them to follow revised rules for identifying and reporting unclaimed assets. The legislation expands what counts as evidence of an owner's interest in property, including digital account activity and communications with holders. These changes aim to improve how the state tracks and manages unclaimed property while ensuring clarity for businesses handling such funds.