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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
]]]] 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.
]]]] 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".
]]]] 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
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