All Roll Calls
Yes: 191 • No: 0
UtahH.B. 5192026 General SessionHouseWALLET
Unclaimed Property Modifications
Sponsored By: Jordan D. Teuscher (Republican)
Signed by Governor
Electronic TransactionsTechnologyBusinessGovernment Operations (State Issues)Revenue and TaxationState Treasurer
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Bill Overview
Analyzed Economic Effects
5 provisions identified: 2 benefits, 0 costs, 3 mixed.
Digital assets covered with new custody rules
The law treats digital assets as unclaimed property. If a holder can transfer an unclaimed digital asset, it must send it to the state’s designated custodian within 30 days and provide records and a reconciliation within 30 days after delivery. If the holder does not have the private key or other authority, it must still report the asset, keep it, check at least once a year, and deliver it at the next reporting cycle after transfer becomes possible. Delivery to the designated custodian counts as payment or delivery to the state.
Rules for selling unclaimed digital assets
If the state cannot accept or reasonably hold a reported digital asset, or custody would cost more than the asset is worth, the administrator may order the holder to sell it and deliver the net proceeds. The administrator may also order sale before the usual filing date, or have the holder move the asset into a state‑owned account it maintains; if the holder believes it cannot sell, it must promptly send a written notice and await direction. For assets listed on an exchange, the state may not sell below the exchange price at the time of sale. For assets not listed, the state may use any commercially reasonable method. After a claim is approved, an owner can ask the state to sell the asset and pay the net proceeds. Neither the state nor the holder is liable for any gains or losses the asset might have had after the sale.
When Utah can sell unclaimed digital assets
A digital asset is presumed abandoned after three years with no sign of owner interest. If first‑class mail to the owner is returned, abandonment is the later of three years after the return or three years after the last owner activity. The state cannot sell the asset until three years after its custodian receives it and three years after the administrator sends notice to the owner. Both time conditions must be met before sale.
Better sales for unclaimed physical property
The administrator sells tangible unclaimed property where the highest net proceeds are likely. Sales can be held in Utah, on the internet, or on another forum, with required notice for non‑internet sales. The administrator may reject low bids and reoffer the property to try to get more money for owners.
New rules start May 6, 2026
The law takes effect on May 6, 2026. From that date, the updated unclaimed property and digital asset rules apply.
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Sponsors & Cosponsors
Sponsor
Jordan D. Teuscher
Republican • House
Cosponsors
Kirk A. Cullimore
Republican • Senate
Roll Call Votes
House vote • 3/3/2026
House/ concurs with Senate amendment
Yes: 68 • No: 0
Senate vote • 3/2/2026
Senate/ passed 3rd reading
Yes: 25 • No: 0
House vote • 2/25/2026
Senate Comm - Substitute Recommendation
Yes: 5 • No: 0
House vote • 2/25/2026
Senate Comm - Consent Calendar Recommendation
Yes: 3 • No: 0
House vote • 2/25/2026
Senate Comm - Favorable Recommendation
Yes: 4 • No: 0
House vote • 2/19/2026
House/ passed 3rd reading
Yes: 65 • No: 0
House vote • 2/17/2026
House Comm - Favorable Recommendation
Yes: 7 • No: 0
House vote • 2/17/2026
House Comm - Consent Calendar Recommendation
Yes: 7 • No: 0
House vote • 2/17/2026
House Comm - Amendment Recommendation
Yes: 7 • No: 0
Actions Timeline
Governor Signed
3/18/2026House/ to Governor
3/12/2026HouseHouse/ received enrolled bill from Printing
3/12/2026HouseHouse/ enrolled bill to Printing
3/11/2026HouseEnrolled Bill Returned to House or Senate
3/11/2026Draft of Enrolled Bill Prepared
3/5/2026Bill Received from House for Enrolling
3/5/2026House/ signed by Speaker/ sent for enrolling
3/4/2026HouseHouse/ received from Senate
3/4/2026HouseSenate/ to House
3/3/2026SenateSenate/ signed by President/ returned to House
3/3/2026SenateSenate/ received from House
3/3/2026SenateHouse/ to Senate
3/3/2026HouseHouse/ concurs with Senate amendment
3/3/2026HouseHouse/ placed on Concurrence Calendar
3/2/2026HouseHouse/ received from Senate
3/2/2026HouseSenate/ to House with amendments
3/2/2026SenateSenate/ passed 3rd reading
3/2/2026SenateSenate/ 3rd reading
3/2/2026SenateSenate/ 2nd reading
2/25/2026SenateSenate/ comm rpt/ substituted/ Consent Calendar
2/25/2026SenateSenate Comm - Consent Calendar Recommendation
2/25/2026Senate Comm - Favorable Recommendation
2/25/2026Senate Comm - Substitute Recommendation
2/25/2026Senate/ to standing committee
2/23/2026Senate
Bill Text
Enrolled
3/11/2026
Substitute #1
2/20/2026
Amended 2/17/2026 12:02:533
2/17/2026
Introduced
2/9/2026
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