July 2024 │ Legislation & Regulation Update

The Unclaimed Property Legislative Alert

Summary of Legislation — Week Ending July 26, 2024

DISTRICT OF COLUMBIA: Bill 25-0785 (effective July 15, 2024; applicable October 1, 2024). Enacted legislation provides that an unclaimed deposit required as security for performance of excavation work in a public space is not subject to the Revised Uniform Unclaimed Property Act.  This provision is part of an emergency budget bill that expires October 13, 2024.

MICHIGAN: Senate Bill 389 (effective July 23, 2024). Enacted legislation establishes a longer dormancy period for certain property types if the owner is on active military service or in the reserve on active orders.

With The Unclaimed Property Legislative Alert Summary of Legislation and Regulation, you receive an overview of the latest information on unclaimed property legislative updates, regulatory changes, and statutory amendments across the United States and Canada. The publicly available information contained herein has been compiled by Kelmar Associates, LLC and does not constitute legal advice or analysis of any kind.  The summary information is generally compiled on a weekly basis, as applicable, and is shared on Kelmar's website each month. For more information, please refer to each state unclaimed property bill.