Assigned to FIN AS PASSED BY COW
ARIZONA STATE SENATE
Fifty-Seventh Legislature, First Regular Session
AMENDED
FACT SHEET FOR S.B. 1300
unclaimed property; department of revenue
Purpose
Reduces the timeframe for the Arizona Department of Revenue (ADOR) to allow or deny
an unclaimed property claim and deliver the property or pay the net proceeds of a sale of the
property to the claimant. Allows a spouse, parent, sibling or child to claim property for the rightful
owner, if a candidate committee’s or political action committee's property is abandoned.
Background
ADOR's Unclaimed Property Program seeks to efficiently and effectively collect,
safeguard and distribute unclaimed property to property owners by: 1) sending notices to potential
property owners; 2) featuring claimant information through a search function on ADOR's website;
3) advertising in Arizona media; and 4) working with other state agencies in Arizona and nationally
to track unclaimed property owners (ADOR).
Statute allows any person to file a claim with ADOR for unclaimed property paid or
delivered to ADOR. Within 90 days after receiving a claim, ADOR must allow or deny the claim
and give written notice of its decision to the claimant. If the claim is denied, ADOR must inform
the claimant about the reasoning behind the denial and specify if any additional evidence or
information is required before the claim will be allowed. Within 30 days after allowing a claim,
ADOR must deliver the property or pay the net proceeds of a sale of the property to the claimant,
including any dividend, interest or other increment to which the claimant is entitled (A.R.S.
§ 44-317).
There is no anticipated fiscal impact to the state General Fund associated with this
legislation.
Provisions
1. Reduces the timeframe, from 90 days after a claim is filed to 30 days after a claim is filed,
within which ADOR must allow or deny the claim and give written notice of the decision to
the claimant.
2. Modifies the timeframe, from within 30 days after allowing a claim to within 30 days after
filing a claim, within which ADOR must deliver the claimed property or pay the net proceeds
of a sale of the property to the claimant.
3. Specifies that property held by a candidate committee, political action committee or political
party is presumed abandoned one year after the expiration of the committee or political action
committee, if the property is not claimed by the rightful owner. FACT SHEET – Amended
S.B. 1300
Page 2
4. Allows a spouse, parent, sibling or child, if a committee’s, political action committee’s or
political party's property is abandoned, to claim the property for the rightful owner.
5. Makes conforming changes.
6. Becomes effective on the general effective date.
Amendments adopted by Committee of the Whole
1. Specifies that property held by a candidate committee, political action committee or political
party is presumed abandoned one year after the expiration of the committee or political action
committee, if the property is not claimed by the rightful owner.
2. Allows a spouse, parent, sibling or child, if a committee’s or political action committee’s
property is abandoned, to claim the property for the rightful owner.
Senate Action
FIN 2/10/2025 DP 5-2-0
Prepared by Senate Research
February 25, 2025
MG/AL/ci