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Bills · 2011-2012 Regular Session

SB 296

Died at session end Official bill text Atom feed

interest due on property determined to be abandoned and due to be paid or delivered to the state treasurer.

  1. Introduced, stopped here
  2. Passes Senate, not reached
  3. Passes Assembly, not reached
  4. Governor signs, not reached
  5. Law, not reached

Unfamiliar terms? Glossary

What this bill does

Plain-language analysis by the nonpartisan Legislative Reference Bureau

Under current law, a person who holds property that has been determined to

be abandoned by the owner of the property must pay or deliver that property to the

state treasurer (treasurer). If the person who holds the property fails to pay or

deliver the property within the time required by law, the person must pay interest

on the property or the value of the property at the annual rate of 18 percent from the

date the property should have been paid or delivered. Under this bill, the treasurer

may only require a person to pay interest on the property if the person has willfully

neglected to pay or deliver the property in a timely manner. The bill also changes

the interest rate from 18 percent to 12 percent.

What it would cost

Fiscal estimates filed by state agencies, as official PDFs

Sponsors

Introduced by: Grothman (R)

1 cosponsors

Kramer (R)

Full history

  1. Nov 18, 2011 · Senate

    Introduced by Senator Grothman;Cosponsored by Representative Kramer

  2. Nov 18, 2011 · Senate

    Read first time and referred to committee on Judiciary, Utilities, Commerce, and Government Operations

  3. Jan 25, 2012 · Senate

    Public hearing held

  4. Feb 21, 2012 · Senate

    Fiscal estimate received

  5. Feb 29, 2012 · Senate

    Senate amendment 1 offered by Senator Grothman

  6. Mar 23, 2012 · Senate

    Failed to pass pursuant to Senate Joint Resolution 1