HOUSE BILL NO. 11

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Bill Status



H0011aaS............................................by REVENUE AND TAXATION
UNCLAIMED PROPERTY - Amends existing law to delete the requirement of
annual newspaper publication for unclaimed property; and to provide for
quarterly updates on a public website maintained by the State Tax
Commission.
                                                                        
01/19    House intro - 1st rdg - to printing
01/20    Rpt prt - to Rev/Tax
02/01    Rpt out - rec d/p - to 2nd rdg
02/02    2nd rdg - to 3rd rdg
02/03    3rd rdg - PASSED - 70-0-0
      AYES -- Anderson, Andrus, Barraclough, Barrett, Bastian, Bayer,
      Bedke, Bell, Bilbao, Black, Block, Boe, Bolz, Bradford, Cannon,
      Chadderdon, Clark, Collins, Crow, Deal, Denney, Edmunson, Ellsworth,
      Eskridge, Field(18), Field(23), Garrett, Hart, Harwood, Henbest,
      Henderson, Jaquet, Jones, Kemp, Lake, LeFavour, Loertscher, Martinez,
      Mathews, McGeachin, McKague, Miller, Mitchell, Moyle, Nielsen,
      Nonini, Pasley-Stuart, Pence, Raybould, Ring, Ringo, Roberts, Rusche,
      Rydalch, Sali, Sayler, Schaefer, Shepherd(2), Shepherd(8), Shirley,
      Skippen, Smith(30), Smith(24), Smylie, Snodgrass, Stevenson, Trail,
      Wills, Wood, Mr. Speaker
      NAYS -- None
      Absent and excused -- None
    Floor Sponsor - Collins
    Title apvd - to Senate
02/04    Senate intro - 1st rdg - to Loc Gov
02/11    Rpt out - to 14th Ord
02/16    Rpt out amen - to 1st rdg as amen
02/17    1st rdg - to 2nd rdg as amen
02/18    2nd rdg - to 3rd rdg as amen
02/23    3rd rdg as amen - PASSED - 31-0-4
      AYES -- Andreason, Broadsword, Bunderson, Burtenshaw, Cameron,
      Coiner, Compton, Corder, Darrington, Davis, Geddes, Goedde, Hill,
      Jorgenson, Kelly, Keough, Langhorst, Little, Lodge, Malepeai, Marley,
      McGee, McKenzie, Pearce, Richardson, Schroeder, Stegner, Stennett,
      Sweet, Werk, Williams
      NAYS -- None
      Absent and excused -- Brandt, Burkett, Gannon, Noble
    Floor Sponsor - McKenzie
    Title apvd - to House
02/24    House concurred in Senate amens - to engros
02/25    Rpt engros - 1st rdg - to 2nd rdg as amen
02/28    2nd rdg - to 3rd rdg as amen
03/07    3rd rdg as amen- PASSED - 65-1-4
      AYES -- Anderson, Andrus, Barraclough, Barrett, Bastian, Bayer,
      Bedke, Bell, Bilbao, Black, Block, Boe, Bolz, Bradford, Chadderdon,
      Clark, Collins, Deal, Denney, Edmunson, Ellsworth, Eskridge,
      Field(18), Field(23), Garrett, Hart, Harwood, Henbest, Henderson,
      Jaquet, Jones, Kemp, LeFavour, Loertscher, Martinez, Mathews,
      McGeachin, McKague, Miller, Mitchell, Moyle, Nielsen, Nonini,
      Pasley-Stuart, Pence, Raybould, Ring, Ringo, Roberts, Rusche,
      Rydalch, Sali, Sayler, Schaefer, Shepherd(2), Shepherd(8), Shirley,
      Skippen, Smith(30), Smith(24), Smylie, Snodgrass, Trail, Wills, Mr.
      Speaker
      NAYS -- Wood
      Absent and excused -- Cannon, Crow, Lake, Stevenson
    Floor Sponsor - Collins
    Title apvd - to enrol
03/08    Rpt enrol - Sp signed
03/09    Pres signed
03/09    To Governor
03/11    Governor signed
         Session Law Chapter 36
         Effective: 07/01/05

Bill Text


                                                                        
                                                                        
  ]]]]              LEGISLATURE OF THE STATE OF IDAHO             ]]]]
 Fifty-eighth Legislature                   First Regular Session - 2005
                                                                        
                                                                        
                              IN THE HOUSE OF REPRESENTATIVES
                                                                        
                                     HOUSE BILL NO. 11
                                                                        
                             BY REVENUE AND TAXATION COMMITTEE
                                                                        
  1                                        AN ACT
  2    RELATING TO UNCLAIMED PROPERTY; AMENDING SECTION 14-518, IDAHO CODE, TO DELETE
  3        THE REQUIREMENT OF ANNUAL NEWSPAPER PUBLICATION AND TO PROVIDE  FOR  QUAR-
  4        TERLY UPDATES ON A PUBLIC WEBSITE MAINTAINED BY THE STATE TAX COMMISSION.
                                                                        
  5    Be It Enacted by the Legislature of the State of Idaho:
                                                                        
  6        SECTION  1.  That  Section  14-518, Idaho Code, be, and the same is hereby
  7    amended to read as follows:
                                                                        
  8        14-518.  NOTICE AND PUBLICATION OF LISTS OF ABANDONED  PROPERTY.  (1)  The
  9    administrator  shall  cause  a  notice  to be published annually each year, at
 10    least once a week for two (2) consecutive weeks in newspapers of general  cir-
 11    culation,  or  in  a  published notice distributed, one (1) time only, concur-
 12    rently with a newspaper of general circulation in the county of this state  in
 13    which  is  located  the  last  known  address of any person to be named in the
 14    notice. If no address is listed or the address  is  outside  this  state,  the
 15    notice must be published in a newspaper which has general circulation, or in a
 16    published  notice  distributed concurrently with a newspaper which has general
 17    circulation in the county in which the holder of the property has its  princi-
 18    pal  place  of  business  within  this state establish, maintain and update at
 19    least quarterly a current list of all reported owners of abandoned property on
 20    a website that is connected to or that may be accessed from the website  main-
 21    tained  by the state tax commission. Provided however, the names and addresses
 22    of owners located in a state which will receive the accounts because of recip-
 23    rocal agreements as permitted by section 14-535, Idaho Code, need not be  pub-
 24    lished  listed. In the case of a notice which is distributed concurrently with
 25    a newspaper, the provisions of section 60-105, Idaho Code, relating  to  rates
 26    for official notices shall not apply.
 27        (2)  The  published  notice  must  be entitled "Notice of Names of Persons
 28    Appearing to be Owners of Abandoned  Property"  and  list  maintained  by  the
 29    administrator must contain:
 30        (a)  The  names, in alphabetical order, and last known address, if any, of
 31        persons listed in the any report of  abandoned  property  filed  with  the
 32        administrator and entitled to notice;
 33        (b)  A  statement that information concerning the property may be obtained
 34        by any person possessing an interest in  the  property  by  addressing  an
 35        inquiry to the administrator;
 36        (c)  A  statement that the property is in the custody of the administrator
 37        and all claims must be directed to the administrator; and
 38        (d)  A statement that the property shall escheat to the state of Idaho and
 39        become the property of the state of Idaho if not claimed within  ten  (10)
 40        years after it is received by the administrator.
 41        (3)  The  administrator  is not required to publish in the notice list any
 42    items of less than one hundred dollars ($100) unless the administrator consid-
 43    ers their publication the inclusion of such property in the list to be in  the
                                                                        
                                           2
                                                                        
  1    public interest.
  2        (4)  This  section is not applicable to sums payable on traveler's checks,
  3    money orders, and other written instruments presumed abandoned  under  section
  4    14-504, Idaho Code.

Amendment


                                                                        
                                                                        
  ]]]]              LEGISLATURE OF THE STATE OF IDAHO             ]]]]
 Fifty-eighth Legislature                   First Regular Session - 2005
                                                                        
                                                                        
                                                     Moved by    McKenzie            
                                                                        
                                                     Seconded by Bunderson           
                                                                        
                                                                        
                                       IN THE SENATE
                              SENATE AMENDMENT TO H.B. NO. 11
                                                                        
  1                                AMENDMENT TO SECTION 1
  2        On page 1 of the printed bill, in line 21, following "commission"  insert:
  3    ".  At  least one (1) week before each quarterly website posting of such list,
  4    the administrator shall publish a notice in the  official  newspaper  of  each
  5    Idaho  county  stating  when  and where the quarterly website listing of Idaho
  6    abandoned property will be accessible to citizens".

Engrossed Bill (Original Bill with Amendment(s) Incorporated)


                                                                        
                                                                        
  ]]]]              LEGISLATURE OF THE STATE OF IDAHO             ]]]]
 Fifty-eighth Legislature                   First Regular Session - 2005
                                                                        
                                                                        
                              IN THE HOUSE OF REPRESENTATIVES
                                                                        
                        HOUSE BILL NO. 11, As Amended in the Senate
                                                                        
                             BY REVENUE AND TAXATION COMMITTEE
                                                                        
  1                                        AN ACT
  2    RELATING TO UNCLAIMED PROPERTY; AMENDING SECTION 14-518, IDAHO CODE, TO DELETE
  3        THE REQUIREMENT OF ANNUAL NEWSPAPER PUBLICATION AND TO PROVIDE  FOR  QUAR-
  4        TERLY UPDATES ON A PUBLIC WEBSITE MAINTAINED BY THE STATE TAX COMMISSION.
                                                                        
  5    Be It Enacted by the Legislature of the State of Idaho:
                                                                        
  6        SECTION  1.  That  Section  14-518, Idaho Code, be, and the same is hereby
  7    amended to read as follows:
                                                                        
  8        14-518.  NOTICE AND PUBLICATION OF LISTS OF ABANDONED  PROPERTY.  (1)  The
  9    administrator  shall  cause  a  notice  to be published annually each year, at
 10    least once a week for two (2) consecutive weeks in newspapers of general  cir-
 11    culation,  or  in  a  published notice distributed, one (1) time only, concur-
 12    rently with a newspaper of general circulation in the county of this state  in
 13    which  is  located  the  last  known  address of any person to be named in the
 14    notice. If no address is listed or the address  is  outside  this  state,  the
 15    notice must be published in a newspaper which has general circulation, or in a
 16    published  notice  distributed concurrently with a newspaper which has general
 17    circulation in the county in which the holder of the property has its  princi-
 18    pal  place  of  business  within  this state establish, maintain and update at
 19    least quarterly a current list of all reported owners of abandoned property on
 20    a website that is connected to or that may be accessed from the website  main-
 21    tained  by  the  state tax commission. At least one (1) week before each quar-
 22    terly website posting of such list, the administrator shall publish  a  notice
 23    in  the  official  newspaper  of  each Idaho county stating when and where the
 24    quarterly website listing of Idaho abandoned property will  be  accessible  to
 25    citizens.  Provided  however,  the  names and addresses of owners located in a
 26    state which will receive the accounts because of reciprocal agreements as per-
 27    mitted by section 14-535, Idaho Code, need not be  published  listed.  In  the
 28    case  of a notice which is distributed concurrently with a newspaper, the pro-
 29    visions of section 60-105, Idaho Code, relating to rates for official  notices
 30    shall not apply.
 31        (2)  The  published  notice  must  be entitled "Notice of Names of Persons
 32    Appearing to be Owners of Abandoned  Property"  and  list  maintained  by  the
 33    administrator must contain:
 34        (a)  The  names, in alphabetical order, and last known address, if any, of
 35        persons listed in the any report of  abandoned  property  filed  with  the
 36        administrator and entitled to notice;
 37        (b)  A  statement that information concerning the property may be obtained
 38        by any person possessing an interest in  the  property  by  addressing  an
 39        inquiry to the administrator;
 40        (c)  A  statement that the property is in the custody of the administrator
 41        and all claims must be directed to the administrator; and
 42        (d)  A statement that the property shall escheat to the state of Idaho and
 43        become the property of the state of Idaho if not claimed within  ten  (10)
                                                                        
                                           2
                                                                        
  1        years after it is received by the administrator.
  2        (3)  The  administrator  is not required to publish in the notice list any
  3    items of less than one hundred dollars ($100) unless the administrator consid-
  4    ers their publication the inclusion of such property in the list to be in  the
  5    public interest.
  6        (4)  This  section is not applicable to sums payable on traveler's checks,
  7    money orders, and other written instruments presumed abandoned  under  section
  8    14-504, Idaho Code.

Statement of Purpose / Fiscal Impact


                     STATEMENT  OF  PURPOSE
                            RS 14428

This bill changes the way the State Tax Commission notifies the
public that unclaimed property held by the state is available to be
claimed by rightful owners.  Instead of advertising names in a
newspaper publication once a year, the Tax Commission will list the
information on its Web site.  The Web site will be updated at least
quarterly. 



                         FISCAL  IMPACT

No fiscal effect.



                                


CONTACT                               
Name:    Dan John
Agency:  State Tax Commission
Phone:   334-7530

STATEMENT OF PURPOSE/FISCAL NOTE                   H 11