SB844

Pennsylvania SB844 amends the claim process for abandoned and unclaimed property, increasing the threshold for automatic payment to $10,000.

Pennsylvania SB844 amends the process for claiming abandoned and unclaimed property in the state. Specifically, it changes the threshold for automatic payment by the State Treasurer from $500 to $10,000. Any person claiming an interest in property paid or delivered to the Commonwealth can file a claim, but the State Treasurer can also pay or deliver property if a report identifies the claimant as the sole owner and the value is under $10,000. This change affects the disposition of unclaimed property and the procedures for claiming such assets.