Bill Text: CA AB2198 | 2019-2020 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Unclaimed property: secure payment of claims.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed - Dead) 2020-08-20 - In committee: Held under submission. [AB2198 Detail]

Download: California-2019-AB2198-Introduced.html

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CALIFORNIA LEGISLATURE— 2019–2020 REGULAR SESSION

Assembly Bill

No. 2198

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Introduced by Assembly Member Ting

February 12, 2020

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An act to add Section 1583 to the Code of Civil Procedure, relating to unclaimed property.

LEGISLATIVE COUNSEL'S DIGEST

AB 2198, as introduced, Ting. Unclaimed property: report to the Legislature.

The Unclaimed Property Law governs the disposition of unclaimed property, including the escheat of certain property to the state. Those provisions require a person holding funds or other property escheated to the state to report to the Controller certain information regarding the property and the owner, and set forth procedures whereby a person may file a claim to the property or to the net proceeds from its sale.

This bill would require the Controller, by January 1, 2022, to submit to the Legislature a report, as specified, stating the Controller’s recommendations for reducing the administrative burden on property owners by streamlining the existing claims process.

Digest Key

Vote: MAJORITY   Appropriation: NO   Fiscal Committee: YES   Local Program: NO  

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Bill Text

The people of the State of California do enact as follows:

SECTION 1.

 Section 1583 is added to the Code of Civil Procedure, to read:

1583.

 (a) By January 1, 2022, the Controller shall submit to the Legislature a report stating the Controller’s recommendations for reducing the administrative burden on property owners by streamlining the claims process described in Section 1540.

(b) The report to the Legislature required by this section shall be submitted in compliance with Section 9795 of the Government Code.