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ColoradoHB25-12242025 Regular SessionHouseWALLET

Revised Uniform Unclaimed Property Act Modifications

Sponsored By: Brianna Titone (Democratic), Marc Snyder (Democratic), Matt Soper (Republican)

Signed by Governor

State Government

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Bill Overview

Analyzed Economic Effects

5 provisions identified: 2 benefits, 0 costs, 3 mixed.

Older prepaid funeral contracts get recovery rules

The law covers prepaid funeral and cemetery contracts signed before August 10, 2022. The three-year abandonment clock starts at the beneficiary's confirmed death date, or age 107 if death is unknown. Apparent owners must receive the required notice even when the contract buyer is dead or presumed dead.

Businesses keep unclaimed-property records fewer years

Holders required to report unclaimed property must keep the required records for six years, down from ten. The clock starts on the report's filing date or due date, whichever is later. Colorado's administrator can set a shorter period by rule.

Funeral contract deductions capped; sellers keep interest

For unclaimed prepaid funeral or cemetery contracts signed before August 10, 2022, reported value starts with the purchase price. Allowed selling costs are capped at 15% of the total contract price; allowed damages and cancellation fees at 15% of the purchase price. Finance charges and late fees are excluded, and sellers keep earned interest. Holders must report both the buyer and beneficiary. Completing the reporting and required payment or delivery steps ends the holder's further responsibility to the state administrator.

Inactive retirement savings face abandonment deadlines

Tax-deferred pension and retirement accounts are presumed abandoned three years after becoming payable or distributable when owners take no recorded action. Accepting a distribution, writing about it, or showing interest in records held by the plan prevents that finding. The rule routes forgotten funds into Colorado's recovery process, but can accelerate their transfer to the state.

Unclaimed crypto gets sold, ending future gains

Colorado covers cryptocurrency and other digital value used for exchange, accounting, or savings, but excludes gift cards and loyalty programs. Virtual currency held by businesses handling it is presumed abandoned after three years without the owner's recorded interest. Holders must sell it within 30 days after reporting it and send Colorado the proceeds; owners cannot claim later gains. If selling is impossible, holders must promptly explain why in writing. Colorado can direct transfer to a custodian or continued holding until a sale becomes possible or the owner shows interest.

Sponsors & Cosponsors

Sponsors

  • Brianna Titone

    Democratic • House

  • Marc Snyder

    Democratic • Senate

  • Matt Soper

    Republican • House

Cosponsors

  • Bob Marshall

    Democratic • House

  • Jennifer Bacon

    Democratic • House

  • Junie Joseph

    Democratic • House

  • Julie McCluskie

    Democratic • House

  • Naquetta Ricks

    Democratic • House

  • William Lindstedt

    Democratic • Senate

  • Cathy Kipp

    Democratic • Senate

Roll Call Votes

All Roll Calls

Yes: 186 • No: 58

House vote • 4/11/2025

Senate amendments: Repass

Yes: 46 • No: 16

House vote • 4/11/2025

Senate amendments: Concur

Yes: 46 • No: 16

Senate vote • 4/4/2025

Third reading: Bill

Yes: 25 • No: 10

Senate vote • 4/1/2025

Refer House Bill 25-1224, as amended, to the Committee of the Whole.

Yes: 8 • No: 1

House vote • 3/20/2025

Third reading: Bill

Yes: 50 • No: 13

House vote • 2/27/2025

Refer House Bill 25-1224, as amended, to the Committee of the Whole.

Yes: 11 • No: 2

Actions Timeline

  1. Governor Signed

    6/4/2025House

  2. Sent to the Governor

    4/30/2025House

  3. Signed by the Speaker of the House

    4/29/2025House

  4. Signed by the President of the Senate

    4/29/2025Senate

  5. House Considered Senate Amendments - Result was to Concur - Repass

    4/11/2025House

  6. House Considered Senate Amendments - Result was to Laid Over Daily

    4/6/2025House

  7. Senate Third Reading Passed - No Amendments

    4/4/2025Senate

  8. Senate Second Reading Special Order - Passed with Amendments - Committee

    4/3/2025Senate

  9. Senate Committee on Finance Refer Amended to Senate Committee of the Whole

    4/1/2025Senate

  10. Introduced In Senate - Assigned to Finance

    3/25/2025Senate

  11. House Third Reading Passed - No Amendments

    3/20/2025House

  12. House Second Reading Special Order - Passed with Amendments - Committee, Floor

    3/19/2025House

  13. House Second Reading Special Order - Laid Over Daily - No Amendments

    3/14/2025House

  14. House Second Reading Laid Over Daily - No Amendments

    3/3/2025House

  15. House Committee on Finance Refer Amended to House Committee of the Whole

    2/27/2025House

  16. Introduced In House - Assigned to Finance

    2/11/2025House

Bill Text

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