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HB 1401

Transfers from Unclaimed Property Trust Fund

2026 Regular Session

Colorado bill authorizes transferring unclaimed property trust funds to the general fund, creating budget revenue while potentially reducing payment capacity for future legitimate claimants.

Governor Signed
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Bill Summary · HB 1401

Legislative bill overview

HB 1401 authorizes transfers of funds from Colorado's Unclaimed Property Trust Fund to the state's general fund or other designated purposes. The bill modifies how the state manages unclaimed property—funds held by the state from abandoned bank accounts, insurance policies, and similar sources that rightfully belong to citizens or their heirs.

Why this is important

Unclaimed property funds represent real money belonging to Coloradans who haven't claimed it. Transfers to the general fund effectively allow the state to spend these funds for current operations rather than reserving them for legitimate claimants. This creates a tension between addressing immediate budget needs and maintaining resources to pay citizens when they eventually claim their property.

Potential points of contention

  • Claimant protection: Redirecting unclaimed property funds reduces the state's ability to pay residents and heirs who eventually file legitimate claims, potentially creating shortfalls
  • Legal obligations: Many states face legal challenges over unclaimed property misuse; Colorado may be establishing liability if insufficient funds exist when claims are processed
  • Fiscal gimmick concerns: Using unclaimed property as a revenue source is often criticized as a hidden budget solution rather than transparent spending adjustments

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

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