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General Assembly Proposed Bill No. 512
January Session, 2025
LCO No. 645
Referred to Committee on GOVERNMENT ADMINISTRATION
AND ELECTIONS
Introduced by:
SEN. SAMPSON, 16th Dist.
AN ACT REVISING VARIOUS PROVISIONS CONCERNING
UNCLAIMED PROPERTY.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
That part III of chapter 32 of the general statutes be amended to (1) 1
establish a minimum amount for making automatic payments to owners 2
of unclaimed property; (2) allow businesses and nonprofit organizations 3
to be eligible for such automatic payments; (3) require the list of 4
unclaimed property maintained and published by the State Treasurer to 5
include the exact value of the property; (4) establish a preponderance of 6
the evidence standard for proving ownership of unclaimed property; (5) 7
require the State Treasurer to make automatic payments to 8
municipalities for unclaimed property at least annually; and (6) 9
authorize a registered nonprofit organization to be granted ownership 10
of any unclaimed property owned by a branch or chapter of the 11
nonprofit organization under certain conditions. 12 Proposed Bill No. 512
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Statement of Purpose:
To revise various provisions concerning the unclaimed property process
in the state.