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Read. Follow. Verify.Pennsylvania bill raises State Treasurer's direct payout limit for abandoned property from $500 to $5,000
Last action · February 4, 2025: Referred to STATE GOVERNMENT, Feb. 4, 2025Sponsors: Marla Brown and 6 others
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What This Bill Would Do
Pennsylvania House Bill 488 permits the State Treasurer to directly pay out or deliver unclaimed property or property sale proceeds valued under $5,000—increased from the previous $500 cap—to a person identified as the sole owner in a holder's report, regardless of whether a formal claim is filed. The measure takes effect in 60 days.
Residents seeking the return of smaller amounts of unclaimed property valued between $500 and $4,999 may receive payouts directly from the State Treasurer without filing a formal claim, provided a report identifies them as the sole owner.
Who It Would Affect
Groups the bill's text would affect if enacted, as described in the record. Being affected is not a position for or against it.
Owners of unclaimed property
Individuals who are sole owners of unclaimed property valued between $500 and $5,000 may receive payouts directly from the State Treasurer without filing a formal claim.
State Treasurer
The State Treasurer is authorized to directly disburse unclaimed property and proceeds up to $5,000 based on reporting.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
Do I still need to file a formal claim to get property valued under $5,000?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
Currently in committee. The next step in the legislative lifecycle is Floor Vote.
Procedural history
1 action- Feb 4, 2025HouseCommitteeReferred to STATE GOVERNMENT, Feb. 4, 2025
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Connected Entities
Sources
www.palegis.us
Analysis Score
0–100- Significance40How much this matters to a regular citizen
- Controversy10Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz15Current news / social attention level
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