All Roll Calls
Yes: 123 • No: 1
ArkansasSB4542025 Regular SessionSenate
TO AMEND THE LAW CONCERNING UNCLAIMED PROPERTY FUNDS; TO AMEND THE LAW CONCERNING THE DEPOSIT AND INVESTMENT OF UNCLAIMED PROPERTY FUNDS; TO CREATE THE UNCLAIMED PROPERTY INTEREST TRUST FUND; AND TO DECLARE AN EMERGENCY.
Sponsored By: Paul Childress (Republican), Ricky Hill (Republican)
Enacted
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Arkansas uses unclaimed-property interest for state costs
Beginning July 1, 2025, Arkansas creates a separate Unclaimed Property Interest Trust Fund. The Auditor of State can invest unclaimed-property money in the State Treasury Money Management Trust. Interest from the Unclaimed Property Proceeds Trust Fund and Abandoned Mineral Proceeds Trust Fund goes into the new fund. At each fiscal year's end, the interest fund first reimburses the State Central Services Fund for unclaimed-property staff and operating costs. If interest funds fall short, the proceeds fund covers the gap. The interest fund's next priority is repaying the proceeds fund for prior years' shortfalls. Unused money carries forward, and the fund can also receive other money allowed by law. At least once each fiscal year, Arkansas transfers $18 million, minus the administrative reimbursement, to general revenues. That transfer uses money collected and held for a full three years. The Auditor must keep proper accounts and provide records requested by Arkansas Legislative Audit.
Sponsors & Cosponsors
Sponsors
Paul Childress
Republican • House
Ricky Hill
Republican • Senate
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
House vote • 4/1/2025
House Vote - Tuesday, April 1, 2025 4:29:22 PM
Yes: 89 • No: 1 • Other: 8
Senate vote • 3/19/2025
Senate Vote - Wednesday, March 19, 2025 4:09:22 PM
Yes: 34 • No: 0
Actions Timeline
Notification that SB454 is now Act 430
4/7/2025SenateDELIVERED TO GOVERNOR.
4/2/2025SenateReported correctly enrolled and ordered delivered to the Governor.
4/2/2025SenateORDERED ENROLLED
4/1/2025SenateReturned from the House as passed.
4/1/2025SenateReturned to the Senate as passed.
4/1/2025HouseEMERGENCY CLAUSE ADOPTED
4/1/2025HouseRead the third time and passed and ordered transmitted to the Senate.
4/1/2025HouseReturned by the Committee Do Pass
3/31/2025HouseRead the first time, rules suspended, read the second time and referred to the Committee on STATE AGENCIES & GOVT'L AFFAIRS- HOUSE
3/19/2025HouseRECEIVED FROM THE SENATE
3/19/2025HouseOrdered immediately transmitted to the House.
3/19/2025SenateEMERGENCY CLAUSE ADOPTED
3/19/2025SenateRead the third time and passed.
3/19/2025SenateReturned by the Committee, with the recommendation that it Do Pass
3/18/2025SenateRead first time, rules suspended, read second time, referred to STATE AGENCIES & GOVT'L AFFAIRS-SENATE
3/13/2025SenateFiled
3/13/2025Senate
Bill Text
SB454 - Introduced
3/13/2025
Act Version
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