2020 House Bill 5340

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Introduced in the House

Jan. 16, 2020

Introduced by Rep. Wendell Byrd (D-3)

To revise details of the state ”escheats law” that lets the state government take possession of unclaimed property if an owner does not claim it within three years. The bill would revise the terms of agreements between owners and locator services who contract to find and reclaim property.

Referred to the Committee on Regulatory Reform

May 19, 2020

Reported without amendment

Refer to the Committee on Ways and Means.

Referred to the Committee on Ways and Means

May 27, 2020

Reported without amendment

Without amendment and with the recommendation that the bill pass.

June 3, 2020

Passed in the House 82 to 27 (details)

Received in the Senate

June 4, 2020

Referred to the Committee on Regulatory Reform

Sept. 9, 2020

Reported without amendment

With the recommendation that the substitute (S-2) be adopted and that the bill then pass.

Sept. 23, 2020

Passed in the Senate 22 to 15 (details)

To revise details of the state ”escheats law” that lets the state government take possession of unclaimed property if an owner does not claim it within three years. The bill would revise the terms of agreements between owners and locator services who contract to find and reclaim property.

Received in the House

Sept. 24, 2020

Passed in the House 77 to 28 (details)

Vetoed by Gov. Gretchen Whitmer

Oct. 15, 2020

Received in the House

Nov. 5, 2020

Referred to the Committee on Ways and Means