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OregonSB 1462025 Regular SessionSenate

Relating to trust property.

Sponsored By: Sponsor information unavailable

Signed by Governor

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Bill Overview

Analyzed Economic Effects

7 provisions identified: 0 benefits, 3 costs, 4 mixed.

State sells land, discards low-value property

The State Treasurer must sell real estate delivered to Oregon through escheat using reasonable commercial methods. Sale proceeds go into the Unclaimed Property and Estates Fund. After investigating, the Treasurer can destroy or otherwise dispose of delivered personal property with little commercial value. People with an interest in those items may no longer be able to recover the items themselves.

Estate handlers must try selling first

Estate representatives must make their best effort to sell or liquidate property that passes to Oregon through escheat. Only when that fails can they deliver the property itself to the State Treasurer. Personal property with little commercial value must instead be destroyed or otherwise disposed of; real estate transfers require a recorded deed. These same handling rules apply to people filing simple-estate affidavits when the property passes to the state.

Missing estate recipients trigger court steps

The State Treasurer can receive estate notices owed to heirs or will beneficiaries who cannot be identified or found. Estate representatives must act when property remains undelivered 30 days after the court’s distribution judgment because a recipient refuses it or cannot be found. They must ask the court to allow sale or liquidation and transfer to the Treasurer. The Treasurer must receive notice and a chance to object, and transfers must follow the estate-property handling rules.

Holders must identify small unclaimed amounts

Holders must report each unclaimed item’s amount and each owner’s name and address when known. The former $50 threshold for owner details is removed, and items below $50 can no longer be combined. A code or description identifying a state can count as a last-known address, even without a usable mailing address. This can affect where property is reported or delivered and where owners seek recovery. Owners have no new filing duty.

Digital asset owners face abandonment rules

Oregon’s unclaimed-property rules now cover digital assets used as money or stored value on secure distributed ledgers. Exclusions include government currency, specified software and protocols, game content, and loyalty or gift cards. Digital assets are presumed abandoned after three years without owner contact, but that alone does not transfer ownership. Documented owner actions count as contact; automated, recurring, or scheduled credits and debits do not. Holders must complete notices at least 90 days before reporting, starting with an electronic method previously used with the owner. First-class mail must follow if receipt is unconfirmed and a mailing address believed valid is available. Owner contact about the asset after initial notice and before reporting stops the abandonment presumption.

New transfer duties for digital custodians

Holders with transfer credentials must report abandoned digital assets and deliver them in their original form within 30 days after reporting. They must also reconcile the delivery within 30 days. Without needed transfer information, holders must keep the assets until they obtain it. If transfer remains impossible, annual notices must use the owner’s primary communication method and seek confirmation of interest. The Treasurer can decline nontransferable assets or those worth little or less than estimated handling costs, and exempt asset classes by rule. The Treasurer can direct liquidation within 30 days after reporting; holders unable to sell must promptly explain why and follow alternative instructions.

Owners get proceeds, not later gains

The State Treasurer must sell exchange-listed digital assets through that exchange at prices available when sold. Other digital assets can be sold using reasonable commercial methods, with sale timing and methods chosen for the highest expected return. The Treasurer must set procedures for paying rightful owners when digital assets are sold before they file claims. The Treasurer must also protect holders against liability to the extent Oregon’s Constitution allows. Owners cannot recover later price gains from the Treasurer or holder after liquidation of digital assets or other covered property.

Sponsors & Cosponsors

Sponsors

There is no primary sponsor on record.

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 91 • No: 0

House vote • 6/17/2025

Third reading. Carried by Marsh. Passed.

Yes: 50 • No: 0

House vote • 6/10/2025

Revenue: Heard and Reported Out

Yes: 7 • No: 0

Senate vote • 5/20/2025

Third reading. Carried by Meek. Passed.

Yes: 29 • No: 0

Senate vote • 5/12/2025

Finance and Revenue: Heard and Reported Out with Amendments

Yes: 5 • No: 0

Actions Timeline

  1. Effective date, January 1, 2026.

    7/2/2025Senate

  2. Chapter 463, 2025 Laws.

    7/2/2025Senate

  3. Governor signed.

    6/26/2025Senate

  4. Speaker signed.

    6/18/2025House

  5. President signed.

    6/18/2025Senate

  6. Third reading. Carried by Marsh. Passed.

    6/17/2025House

  7. Second reading.

    6/16/2025House

  8. Recommendation: Do pass.

    6/13/2025House

  9. Work Session held.

    6/10/2025House

  10. Public Hearing held.

    6/4/2025House

  11. Referred to Revenue.

    5/22/2025House

  12. First reading. Referred to Speaker's desk.

    5/21/2025House

  13. Third reading. Carried by Meek. Passed.

    5/20/2025Senate

  14. Second reading.

    5/19/2025Senate

  15. Recommendation: Do pass with amendments. (Printed A-Eng.)

    5/16/2025Senate

  16. Work Session held.

    5/12/2025Senate

  17. Public Hearing held.

    3/24/2025Senate

  18. Referred to Finance and Revenue.

    1/17/2025Senate

  19. Introduction and first reading. Referred to President's desk.

    1/13/2025Senate

Bill Text

  • SFR Amendment -2 (Adopted)

    5/12/2025

    PDF

  • SFR Amendment -1 (Proposed)

    3/24/2025

    PDF

  • A-Engrossed

    PDF

  • Enrolled

    PDF

  • Introduced

    PDF

  • Senate Amendments to Introduced

    PDF

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