Ohio’s unclaimed property program is making headlines—and not for the usual reasons. A recent proposal to allocate $600 million from the state’s unclaimed property fund toward building a new stadium for the Cleveland Browns—part of a broader $1.65 billion plan to fund stadium projects across the state—has sparked controversy and conversation.
While the public debate focuses on how unclaimed funds should be used, it’s also an opportunity for businesses to take notice. States don’t just hold these funds; they use them. For capital improvements. For public programs. And sometimes, for high-profile projects…like stadiums.
That means states have a growing interest in making sure those funds don’t run dry, putting unclaimed property compliance back in the spotlight.
A Stadium Funded by Dormant Dollars: Ohio’s Budget Sparks Compliance Conversation
In June 2025, Ohio legislators introduced the stadium proposal as part of a broader budget initiative. The plan has drawn criticism from former state officials and legal watchdogs, who argue it could stretch the bounds of how these funds are intended to be used. Regardless of where public opinion lands, this proposal demonstrates how unclaimed property can shift from a back-office process to the front page.
Ohio’s fund reportedly holds over $4 billion in unclaimed assets. That figure alone signals the scale at play and why states are motivated to monitor compliance closely. And with Ohio’s next annual filing deadline set for November 1, now is a smart time to review your process and ensure everything is in order.
Heightened Visibility Means Heightened Scrutiny
When states start budgeting with unclaimed property in mind, they have every incentive to enforce the rules more aggressively. That can mean:
- More audits and outreach to identify non-compliant holders
- Stricter enforcement of dormancy periods and due diligence
- Higher expectations for documentation, reporting, and timeliness
Even if you’ve been compliant in the past, the bar is only getting higher. Reporting unclaimed property isn’t just a regulatory task. It can also carry reputational risk if noncompliance draws attention during audits or enforcement actions. As Ohio unclaimed funds become more visible in state budgets, holders should expect increased pressure to report accurately and on time.
Unclaimed Property in the Public Eye
While Ohio is making waves by proposing to use unclaimed funds for revenue-generating infrastructure, other states are drawing attention for very different reasons.
Take Virginia, for example, launched its “VA Cash Now” program in 2025, proactively mailing checks to rightful owners of small-dollar unclaimed property. Programs like these are designed to increase transparency and public trust—a very different path than redirecting funds toward development.
Colorado launched a similar effort in 2025, with its “Great Colorado Payback” initiative returning $8 million in unclaimed money directly to residents without requiring them to file a claim. Oregon and Pennsylvania have also begun proactively issuing checks to rightful owners.
State-by-State Nuances That Impact Holders
Not all states are in the headlines, but many present unique challenges for holders trying to stay compliant. For instance, California operates on a multi-phase reporting calendar, requiring both a notice report and final report several months apart. In Texas, there are flexible rules around aggregation of small-dollar amounts and New York maintains some of the stricter due diligence standards in the country.
If you’re curious about how state rules compare, our recent guides to Florida, Michigan, and Vermont are a great place to start.
Stay Ahead of the Scrutiny
The takeaway for holders isn’t about football—it’s about foresight. When unclaimed funds become part of a state’s capital improvement plan, the stakes get higher for everyone upstream.
Staying in compliance isn’t just about avoiding penalties—it’s about protecting your business in an environment where these funds are becoming increasingly visible and increasingly valuable.
If you’re unsure where your organization stands, or need help navigating Ohio’s unclaimed property process, reach out to our team. We’re here to help.