AN ACT IMPLEMENTING THE TREASURER'S RECOMMENDATIONS CONCERNING UNCLAIMED PROPERTY.

This bill updates Connecticut laws regarding unclaimed property to include virtual currency and modernizes definitions for various financial entities. It establishes a three-year inactivity rule, presuming virtual currency held by banks, businesses, or financial organizations is abandoned if the owner has not accessed their secure system within that period. The legislation also expands the scope of covered property to explicitly include digital assets and clarifies terms like "gift certificate" to cover electronic cards while excluding certain prepaid services. These changes aim to streamline how the state identifies and processes abandoned funds held by a wide range of institutions.