Virginia Senate Bill 1465 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Engrossed on February 25 2015 - 50% progression, died in chamber
Action: 2015-02-27 - Failed to pass in House
Text: Latest bill text (Comm Sub) [HTML]

Escheat of unclaimed U.S. savings bonds. Establishes a procedure for the escheat to the Commonwealth of unclaimed U.S. savings bonds. The measure declares that U.S. savings bonds held or owing in the Commonwealth by any person, issued or owed in the course of a holder's business, or held by a state or other government, governmental subdivision, agency, or instrumentality are presumed to be abandoned in the Commonwealth if (i) the last known address of the owner is in the Commonwealth and (ii) the savings bond has remained unclaimed and unredeemed for 10 years after final maturity. Such bonds that are presumed abandoned shall escheat to the Commonwealth one year after such bonds are presumed abandoned, provided that the administrator obtains a court judgment affirming the escheat. The administrator is required to send notice of the escheat to the former owner of each escheated bond, if known, and to include the name and address of former owners in any published notice of unclaimed property. The administrator is required to redeem such bonds that have escheated to the Commonwealth, and the balance of proceeds shall be deposited into the Literary Fund pursuant to Article VIII, Section 8 of the Constitution of Virginia. A person making a claim for an escheated savings bond may file a claim with the administrator and the administrator shall pay the claim upon receipt of proof of the validity of the claim.

U.S. savings bonds; establishes a procedure for the escheat of unclaimed bonds.

Sen. John Watkins [R]

2015-02-26 - House - House: Reported from Commerce and Labor (13-Y 8-N) (Y: 13 N: 9 NV: 1 Abs: 0) [PASS]
2015-02-25 - Senate - Senate: Passed Senate (37-Y 2-N) (Y: 37 N: 2 NV: 1 Abs: 0) [PASS]
2015-02-25 - Senate - Senate: Reconsideration of passage agreed to by Senate (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2015-02-25 - Senate - Senate: Passed Senate (37-Y 1-N) (Y: 37 N: 1 NV: 2 Abs: 0) [PASS]
2015-02-25 - Senate - Senate: Constitutional reading dispensed (37-Y 0-N) (Y: 37 N: 0 NV: 3 Abs: 0) [PASS]
2015-02-23 - Senate - Senate: Reported from Commerce and Labor with substitute (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2015-02-27	House	Failed to pass in House
2015-02-27	House	No further action taken
2015-02-27	House	Read second time
2015-02-26	House	Reported from Commerce and Labor (13-Y 8-N)
2015-02-26	House	Referred to Committee on Commerce and Labor
2015-02-26	House	Read first time
2015-02-26	House	Placed on Calendar
2015-02-25	Senate	Passed Senate (37-Y 2-N)
2015-02-25	Senate	Reconsideration of passage agreed to by Senate (39-Y 0-N)
2015-02-25	Senate	Passed Senate (37-Y 1-N)
2015-02-25	Senate	Constitutional reading dispensed (37-Y 0-N)
2015-02-25	Senate	Engrossed by Senate - committee substitute SB1465S1
2015-02-25	Senate	Committee substitute agreed to 15105488D-S1
2015-02-25	Senate	Reading of substitute waived
2015-02-25	Senate	Read second time
2015-02-24	Senate	Read first time
2015-02-23	Senate	Committee substitute printed 15105488D-S1
2015-02-23	Senate	Reported from Commerce and Labor with substitute (15-Y 0-N)
2015-02-20	Senate	Referred to Committee on Commerce and Labor
2015-02-20	Senate	Presented and ordered printed 15105181D
2015-02-20	Senate	Introduced at the request of Governor

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?151+sum+SB1465
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?151+ful+SB1465+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?151+ful+SB1465S1+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?151+vot+S02V0099+SB1465
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?151+vot+SV0906SB1465+SB1465
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?151+vot+SV0907SB1465+SB1465
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?151+vot+SV0908SB1465+SB1465
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?151+vot+SV0909SB1465+SB1465
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?151+vot+H14V0165+SB1465