LB 183 Legislature · 109th Legislature (2025-2026)

Change provisions relating to the Uniform Disposition of Unclaimed Property Act

LB 183 amends Nebraska's Unclaimed Property Act to update how the State Treasurer handles notices for abandoned property and restricts access to owner records. It requires annual notice publication in county newspapers (or statewide if no address is known) for property owners, with notices for items under $50 optional unless deemed beneficial to the public. The bill also strengthens privacy by treating owner details like Social Security numbers as confidential (similar to tax records), prohibits commercial "finders" from charging fees for 24 months after notices are published, and caps any finder's fee at 10% of the property value. These changes directly affect property owners seeking unclaimed assets, the State Treasurer, and professional locators.
Bill status signed all 5 stages cleared
Introduction
Jan 2025
Committee Review
Feb 2025
Legislature Passage
May 2025
Legislature Passage
Apr 2025
Signed into Law
May 2025
Introduced Jan 13, 2025 Signed May 13, 2025
Maddy AI version diff · 1 comparison

What changed between versions

Introduced Final Reading · 7 edits
MODERATE
This bill amends the state's unclaimed property laws to improve how notice is published and mailed to property owners, clarify how funds are deposited into the state trust fund, and update record-keeping requirements. The changes aim to ensure property owners receive timely notice about their abandoned property and to streamline the process for claiming it.
Scope change
The bill applies to all unclaimed property under the Uniform Disposition of Unclaimed Property Act, with specific updates to the notice publication and mailing procedures.
REQUIREMENT

Changed notice publication frequency from 'once annually' to 'annually' to ensure regular publication of notice to property owners.

Reorganized notice content requirements to clearly specify what information must be included in published notices about abandoned property.

Updated mailed notice requirements to include more specific information about property holders and claim procedures.

Updated record-keeping requirements to include specific details about life insurance policies and terminated demutualization trust funds.

FISCAL

Clarified that funds from unclaimed property sales and life insurance proceeds must be deposited into the Unclaimed Property Trust Fund for prompt payment of claims.

ELIGIBILITY

Maintained the $50 minimum threshold for publishing notice items unless deemed in the public interest.

TIMELINE

Kept the 120-day deadline for mailing notices to property owners after receiving reports.

Floor votes · Legislature Apr 25, 2025

How they voted

410
Passed · 8 other
Total votes 49
Apr 25, 2025
N Nonpartisan49
41 Yea 8
83% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
14
Key actions
5
Committee
2
May 13, 2025
Signed into law
Approved by Governor on May 13, 2025
executive
May 9, 2025
Legislature · Passed
President/Speaker signed
legislature
May 9, 2025
Legislature · Passed
Passed on Final Reading 47-0-2
legislature
Apr 25, 2025
Legislature · Passed
Government, Military and Veterans Affairs AM308 adopted
legislature
Feb 20, 2025
Legislature · Passed
Placed on General File with AM308
legislature
Jan 15, 2025
Committee
Referred to Government, Military and Veterans Affairs Committee
legislature
Jan 13, 2025
Introduced
Date of introduction
legislature
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Barry DeKay
Barry DeKay
NNonpartisan
NE
40