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SB 488

AN ACT IMPLEMENTING THE TREASURER'S RECOMMENDATIONS FOR REVISIONS TO THE UNCLAIMED PROPERTY PROGRAM AND SECOND INJURY FUND.

2026 Regular Session Introduced by Tom Delnicki and 1 co-sponsor

Connecticut implements State Treasurer's recommendations to modernize the Unclaimed Property Program and Second Injury Fund, potentially improving resident access and claims processing.

SIGNED BY GOVERNOR
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Bill Summary · SB 488

Legislative bill overview

SB 488 implements administrative recommendations from Connecticut's State Treasurer regarding revisions to two separate state programs: the Unclaimed Property Program (which holds funds owed to Connecticut residents that have been abandoned by businesses) and the Second Injury Fund (a workers' compensation mechanism). The bill would modify procedures, potentially modernize operations, or adjust financial management practices for these programs based on the Treasurer's audit or efficiency review.

Why is this important

The Unclaimed Property Program directly affects hundreds of thousands of Connecticut residents who have forgotten bank accounts, insurance proceeds, or other assets held by the state. The Second Injury Fund impacts injured workers seeking compensation and employers' insurance costs. Modernizing these programs could improve access for residents trying to recover funds or streamline claims processing, but could also affect fund solvency or eligibility criteria.

Potential points of contention

  • Claimant access vs. state revenue: Streamlining unclaimed property retrieval benefits residents but reduces state revenue from dormant accounts
  • Workers' compensation costs: Changes to the Second Injury Fund could shift financial burdens between injured workers, employers, and the state
  • Implementation details: The bill references "Treasurer's recommendations" without specific details in the title, leaving actual policy changes unclear until full text review

Compiled from official sources — confirm details with the bill’s official record.

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