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SB 1113

Treasurer, State - As introduced, reduces from four to three months, the amount of time following the end of a fiscal year by which the treasurer must submit a report to the governor, comptroller of the treasury, speaker of the senate, and speaker of the house of representatives regarding the operation of the Uniform Unclaimed Property Act during the immediately preceding fiscal year. - Amends TCA Title 47; Title 48 and Title 66.

114th Regular Session (2025-2026) Introduced by Page Walley

SB 1113 shortens Tennessee's annual unclaimed property reporting deadline from four to three months, requiring faster fiscal year reporting by the State Treasurer to governors and legislative leaders.

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Bill Summary · SB 1113

Legislative bill overview

SB 1113 accelerates Tennessee's unclaimed property reporting timeline by requiring the State Treasurer to submit annual fiscal reports to state leadership within three months instead of four months after each fiscal year ends. The bill modifies the reporting requirements under Tennessee's Uniform Unclaimed Property Act across three sections of state law.

Why is this important

Unclaimed property—such as dormant bank accounts, forgotten insurance payouts, and abandoned deposits—represents billions in assets nationwide that rightfully belong to citizens. Faster reporting cycles allow state officials to more quickly identify trends, address processing delays, and ensure timely communication with the public about accessing their funds. This modest timeline change reflects a broader push for administrative efficiency in state treasury operations.

Potential points of contention

  • Administrative burden: The one-month reduction may strain the Treasurer's office if current staffing and systems aren't optimized for faster reporting cycles
  • Report quality vs. speed: Compressing the timeline could potentially compromise the accuracy or comprehensiveness of financial analysis and documentation
  • Limited scrutiny window: Legislative oversight committees receive reports one month earlier, which may reduce the time available for meaningful review before budget planning cycles advance

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

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