2020 House Bill 5339

Revise unclaimed property law

Introduced in the House

Jan. 16, 2020

Introduced by Rep. Michael Webber (R-45)

To revise details of an ”escheats law” that lets the state government take possession of unclaimed property if an owner does not claim it within three years. The bill would expand the information a state administrator must provide to locator services who contract with owners to find and claim property, and would also require rather than allow the administrator to make this information available to bona fide locator services.

Referred to the Committee on Regulatory Reform

May 19, 2020

Reported without amendment

Refer to the Committee on Ways and Means.

Referred to the Committee on Ways and Means

May 27, 2020

Reported without amendment

Without amendment and with the recommendation that the bill pass.

June 3, 2020

Passed in the House 83 to 26 (details)

Received in the Senate

June 4, 2020

Referred to the Committee on Regulatory Reform

Sept. 9, 2020

Reported without amendment

With the recommendation that the substitute (S-3) be adopted and that the bill then pass.

Sept. 23, 2020

Passed in the Senate 22 to 15 (details)

To revise details of an ”escheats law” that lets the state government take possession of unclaimed property if an owner does not claim it within three years. The bill would expand the information a state administrator must provide to locator services who contract with owners to find and claim property, and would also require rather than allow the administrator to make this information available to bona fide locator services.

Received in the House

Sept. 24, 2020

Passed in the House 101 to 4 (details)

Motion to reconsider by Rep. Michael Webber (R-45)

The vote by which the bill was passed.

The motion passed by voice vote

Received

Passed in the House 77 to 27 (details)

Vetoed by Gov. Gretchen Whitmer

Oct. 15, 2020

Received in the House

Nov. 5, 2020

Referred to the Committee on Ways and Means