This bill amends sections 69-1317 and 72-2211 of the Revised Statutes Cumulative Supplement, 2024, to modify the provisions regarding the transfer of funds from the Unclaimed Property Trust Fund. Notably, it introduces a new requirement for the State Treasurer to transfer any balance exceeding one million dollars from the Unclaimed Property Trust Fund to the Capitol Restoration Cash Fund before 2025, and subsequently to the permanent school fund starting in 2035. The bill also establishes that the Capitol Restoration Cash Fund will receive transfers from the Unclaimed Property Trust Fund as directed by the Legislature, alongside other sources such as private and public donations.

Additionally, the bill includes provisions to enhance the confidentiality of unclaimed property records, limiting public access to certain information for a period of twenty-four months after it has been disclosed. It also sets a cap on professional finders' fees related to unclaimed property at ten percent of the total value and mandates that finders must inform property owners about their rights to claim property from the State Treasurer without charge. The bill ultimately aims to streamline the management of unclaimed property funds while ensuring that funds are allocated to both the Capitol Restoration Cash Fund and the permanent school fund in a structured manner.

Statutes affected:
Introduced: 69-1317, 72-2211