The Michigan Uniform Unclaimed Property Act is a statute which addresses tangible and intangible “unclaimed” property, and the duties and obligations of both holders (generally businesses), and the state, as administrator and custodian. “Unclaimed” property includes gift cards, uncashed payroll checks, uncashed utility credits, credit balances, accounts receivables and more.
Leading Businesses. Moving Michigan Forward. 
Policy & Politics
Topics
Updating Michigan's Unclaimed Property Act (Escheats)
Staff Contact:
Tricia Kinley
Senior Director Tax & Regulatory Reform
517-371-7669
Legislative Proposals:
House Bill 5577 - Would Limit Unclaimed Property Recordkeeping for Business-to-Business Transactions
Resources:
UPA Fact Sheet
UPA Floor Memo
Chamber Staff Testimony before Senate Economic Development Committee
Treasury Unclaimed Property Notice - Posted March 15, 2012
The Problem with Contingency Fee Tax and Escheats Audits, Michigan Chamber analysis, posted April 13, 2012
Chamber Staff Testimony before House Commerce Committee re: HB 5577, May 15, 2012
In the News:
Aiming To Outlaw Government Revenue Bounty Hunters, Michigan Capitol Confidential, April 19, 2012
Practitioner Questions the Expanded Sweep of Unclaimed Property Audits and the States' Focus on Generating Revenues, Bloomberg BNA, April 13, 2012
Upcoming Meetings:
None scheduled.
Action Items:
None scheduled.
