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KentuckyHB 4562026 Regular SessionHouseWALLET

AN ACT relating to the State Treasurer and unclaimed property.

Sponsored By: Chris Freeland (Republican)

Signed by Governor

Commendations And RecognitionsMinerals And MiningPropertyTreasurer

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 0 benefits, 1 costs, 1 mixed.

Stronger penalties for businesses on unclaimed property

Businesses that hold others’ unclaimed property face tougher penalties. If a holder evades duties or willfully fails to perform them, the administrator may charge $1,000 per day, up to $25,000. The holder also owes 25% of the value that should have been reported, paid, or delivered, plus interest. If a holder files a fraudulent or incomplete report, the $1,000-per-day penalty runs from the filing date until the report is corrected, capped at $25,000, plus 25% of the omitted or underreported value, and interest.

Treasurer no longer must live at capital

The law removes the rule that the State Treasurer must live at the state capital. The Treasurer must still keep an office at the seat of government. The Department of the Treasury remains led by the State Treasurer. This is an internal rule change, not a tax or benefit change for households.

Sponsors & Cosponsors

Sponsor

  • Chris Freeland

    Republican • House

Cosponsors

  • Jim Gooch Jr.

    Republican • House

Roll Call Votes

All Roll Calls

Yes: 232 • No: 0

House vote • 3/31/2026

passed

Yes: 96 • No: 0

Senate vote • 3/20/2026

3rd reading, passed

Yes: 37 • No: 0

House vote • 2/18/2026

3rd reading, passed

Yes: 99 • No: 0

Actions Timeline

  1. signed by Governor (Acts Ch. 78)

    4/10/2026

  2. delivered to Governor

    3/31/2026

  3. enrolled, signed by President of the Senate

    3/31/2026

  4. enrolled, signed by Speaker of the House

    3/31/2026

  5. passed 96-0

    3/31/2026

  6. House concurred in Committee Substitute (1)

    3/31/2026

  7. posted for passage for concurrence in Senate Committee Substitute (1)

    3/27/2026Senate

  8. to Rules (H)

    3/20/2026House

  9. received in House

    3/20/2026House

  10. 3rd reading, passed 37-0 with Committee Substitute (1)

    3/20/2026

  11. posted for passage in the Consent Orders of the Day for Friday, March 20 2026

    3/19/2026

  12. 2nd reading, to Rules as a consent bill

    3/19/2026

  13. reported favorably, 1st reading, to Consent Calendar with Committee Substitute (1)

    3/18/2026

  14. to State & Local Government (S)

    3/9/2026Senate

  15. to Committee on Committees (S)

    2/19/2026Senate

  16. received in Senate

    2/19/2026Senate

  17. 3rd reading, passed 99-0

    2/18/2026

  18. posted for passage in the Regular Orders of the Day for Wednesday, February 18 2026

    2/17/2026

  19. 2nd reading, to Rules

    2/13/2026

  20. reported favorably, 1st reading, to Calendar

    2/12/2026

  21. to State Government (H)

    1/29/2026House

  22. to Committee on Committees (H)

    1/21/2026House

  23. introduced in House

    1/21/2026House

Bill Text

  • Current

    3/31/2026

    PDF

  • Introduced

    2/18/2026

    PDF

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