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HB 54

Unclaimed Property - As introduced, allows the treasurer to file the annual report regarding the total amount and value of abandoned or unclaimed property with executive and legislative branch officials electronically. - Amends TCA Title 43; Title 44; Title 47; Title 48 and Title 66.

114th Regular Session (2025-2026) Introduced by Jerome Moon

HB 54 allows Tennessee's Treasurer to file annual unclaimed property reports electronically instead of on paper to state officials, modernizing administrative procedures across five statutory titles.

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Bill Summary · HB 54

Legislative bill overview

HB 54 modernizes Tennessee's unclaimed property reporting procedures by allowing the State Treasurer to submit the annual unclaimed property report electronically to state executive and legislative officials, rather than through traditional paper filing methods. The bill amends five Tennessee Code Annotated titles to implement this administrative change across relevant state agencies and departments.

Why is this important

Unclaimed property—including dormant bank accounts, uncashed checks, and forgotten insurance proceeds—affects millions of citizens and represents billions of dollars nationally. Modernizing how Tennessee tracks and reports this property improves administrative efficiency and can streamline the process of reconnecting residents with their assets.

Potential points of contention

  • Implementation details unclear: The bill's broad language about "electronic" filing leaves specifics undefined—standards for format, security, accessibility, and archival aren't addressed, potentially creating compliance ambiguity.
  • Recordkeeping and transparency: Electronic-only filing could complicate public access to historical reports or legislative oversight if proper digital retention and searchability protocols aren't established.
  • Multiple code section amendments: Changes spanning five separate Tennessee Code titles suggest complex interdependencies; unintended consequences in one area could affect others without clear visibility.

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

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