Cornerstone of MATH Act heads to PA Senate
Rep. Ryan Bizzarro July 11, 2024 | 3:08 PM
State Representative Ryan Bizzarro (D-Erie), prime sponsor of the Modernizing Access to Treasury and Housing or MATH Act announced Thursday that his legislation to update the unclaimed property process at the PA Treasury has passed the House of Representatives.
HB 2092 would mandate the automatic return of all property worth $10,000 or less to any owner who’s contact information can be verified through a system of information sharing through state agencies. The legislation also provides for the creation of a statewide education campaign to reach potential property owners and enacts safety provisions for consumers like updated reporting on actions taken to connect people to missing property and requiring companies that offer to find property for a fee to register with the PA Treasury.
“The unclaimed property process is cumbersome and antiquated,” said Bizzarro. “I’m proud to author this measure to connect more Pennsylvanians with the money that is rightfully theirs.”
The legislation also updates the process for notifying those who have unclaimed property exceeding the $10,000 limit if their contact information can be verified by the new system enacted by the bill.
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