SB 1201 — 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 report of property subject to custody and control of the Commonwealth under this article, for certificate of finder registration, for notice and publication of lists of property subject to custody and control of the Commonwealth under this article and for penalties.

Summary

Improvements to the PA Unclaimed Property Process

Bill Text

• Printer's No. 1475 View text Current

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This bill amends existing law regarding the recovery of abandoned and unclaimed property to reduce the maximum recovery fee, extend registration periods, and add new requirements for finder registration and claim notifications.

• Section 1301.11(g)

  fifteen → ten

  The maximum fee for recovery of abandoned and unclaimed property is reduced from 15% to 10%.

• Section 1301.11a(b)(e)

  two (2) → five (5)

  The period of registration for finders of abandoned and unclaimed property is extended from two years to five years.

• Section 1301.11a(b)

  a completed Federal criminal history background check, of which: (i) the State Treasurer shall prescribe the manner by which the background check shall be submitted, which shall include a method by which applicants may submit fingerprints to be transmitted to the Federal Bureau of Investigation for Federal criminal history record information pursuant to applicable Federal law; (ii) the background check shall be submitted with the initial or renewal application and shall be no more than five (5) years of age at the time of the application; and (iii) the State Treasurer shall maintain a copy of the background check, which shall be made available to the applicant in a manner prescribed by the State Treasurer;

  New requirements for a Federal criminal history background check are established for applicants seeking finder registration.

• Section 1301.12(b)3

  and that thereafter claims should be filed with the State Treasurer. → Information regarding the process by which an owner can claim property through the State Treasurer with no charge.

  Owners are informed about a no-charge process to claim property through the State Treasurer.

• Section 1301.25(d)

  guilty of a misdemeanor of the third degree and shall, upon the discretion of the court, pay a fine of not less than $1,000 nor more than $2,500.

  Increases the penalties for violations of the abandoned and unclaimed property provisions.

Action History

1. February 27, 2026

   Referred to FINANCE, Feb. 27, 2026

Sponsors

• Judy Ward · Cosponsor
• Lynda Schlegel Culver · Primary
• Vincent J. Hughes · Cosponsor
• Elder A. Vogel · Cosponsor
• John I. Kane · Cosponsor
• Patrick J. Stefano · Cosponsor
• Tracy Pennycuick · Cosponsor

Subjects