PROPERTY – Amends existing law to revise provisions regarding abandoned property.

Idaho's H 165 revises when certain property is considered abandoned under state law, primarily adjusting timeframes for unclaimed funds. It shortens the abandonment period for property belonging to deceased owners from over 5 years to just 2 years after the last owner contact. The bill also updates rules for specific property types, like reducing the abandonment window for bank deposits from 5 years to 5 years after the last owner interest (with clearer renewal rules), and clarifies procedures for securities (e.g., stocks/bonds) requiring multiple contact attempts before property is deemed abandoned. These changes directly affect financial institutions, insurance companies, businesses holding refunds, and government entities managing unclaimed property, effective July 1, 2025.