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 claim for property paid or delivered.

HB 488 lowers the value threshold for direct payment of unclaimed property in Pennsylvania from $500 to $5,000. It allows the State Treasurer to pay or deliver property valued under $5,000 directly to owners identified as sole owners in the state's property reports, without requiring formal claims. This affects individuals who may have forgotten about small unclaimed assets like old checks or bank balances under $5,000. The change simplifies the process for these smaller claims, reducing administrative steps for both residents and the state.