General Assembly Raised Bill No. 331
February Session, 2012 LCO No. 1754
*01754_______VA_*
Referred to Committee on Select Committee on Veterans' Affairs
Introduced by:
(VA)
General Assembly
Raised Bill No. 331
February Session, 2012
LCO No. 1754
*01754_______VA_*
Referred to Committee on Select Committee on Veterans' Affairs
Introduced by:
(VA)
AN ACT CONVERTING CERTAIN ABANDONED PROPERTY INTO SUPPORTIVE HOUSING FOR VETERANS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. Section 3-68a of the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage):
(a) All unclaimed property, other than money and real property as set forth in subsection (e) of this section, delivered to the Treasurer under this part shall, at his discretion, be sold by him to the highest bidder at public sale in whatever locality of the state in his judgment affords the most favorable market. The Treasurer may decline the highest bid at any such sale and reoffer the property at a later sale if he considers the bid insufficient. He may dispose of any such property by private sale if, in his opinion, the probable cost of public sale will exceed the value of the property. The provisions of this subsection shall not apply to securities for which there is an established market and the Treasurer shall sell such securities in the manner customary in that market.
(b) Any ownership interest in a business association for which there is no established market shall be sold at not less than its fair value. The business association shall have the first right to purchase such interest. Such business association may require the Treasurer to appoint not more than three independent appraisers to determine the fair value of such interest. The cost of such appraisal shall be borne by the business association requesting the same. The Treasurer shall not be obligated to appoint the appraisers unless such business association requesting the appraisal deposits with the Treasurer an amount equivalent to the cost of the appraisal as estimated by the Treasurer. After transfer to the Treasurer in accordance with the provisions of this section and sections 3-59c, 3-59d, 3-67a and 3-73a, the ownership interest so transferred shall remain subject to all limitations on transfer however imposed. Nothing herein shall alter or affect any other provisions limiting the purchase by a business association of its own ownership interests.
(c) Each sale held under this section other than a sale of a security in an established market shall be upon notice published once, at least two weeks in advance of the sale, in a newspaper of general circulation in the town at which the property is to be sold.
(d) Purchasers at such sales shall receive title to the property purchased, free from all claims of owners or prior holders and of all persons claiming through or under them. The Treasurer shall execute all documents necessary to complete transfer of title. The Treasurer may proceed with the liquidation of property upon receipt. A person making a claim under this part is entitled to receive either the securities delivered to the Treasurer by the holder, if they still remain in the possession of the Treasurer, or the proceeds received from sale, but no person has any claim under this part against the state, the holder, any transfer agent, registrar or other person acting for or on behalf of a holder for any appreciation in the value of the property occurring after the delivery by the holder to the Treasurer. The Treasurer may liquidate all unclaimed securities currently held in custody in accordance with the provisions of this section.
(e) Prior to a sale under this section of any real property in a veteran decedent's estate presumed abandoned pursuant to sections 3-63a and 45a-452 and delivered to the Treasurer in accordance with section 3-65a, the Treasurer shall offer to transfer custody and control of such property to the Commissioner of Veterans' Affairs, in accordance with such procedures as the Treasurer may prescribe. The Commissioner of Veterans' Affairs may accept the transfer of custody and control if the Commissioner of Veterans' Affairs, in consultation with the Commissioner of Mental Health and Addiction Services, determines the property is suitable for veterans' supportive housing and that there are sufficient resources available to adequately manage such property acquisition. The Commissioner of Veterans' Affairs shall have one hundred fifty days to accept the transfer of custody and control following notice of such transfer from the Treasurer. If the Department of Veterans' Affairs fails to accept the transfer within the one-hundred-fifty-day period, the property shall be sold pursuant to the procedure established in subsections (a) to (d), inclusive, of this section. For the purposes of this section, "veteran" has the same meaning as provided in section 27-103.
Sec. 2. (NEW) (Effective from passage) There is established a veterans' supportive housing initiative to increase supportive housing options available to homeless veterans. The veterans' supportive housing initiative shall be within the supportive housing initiative set forth in section 17a-845c of the general statutes. When custody and control of property is transferred pursuant to section 3-68a of the general statutes, as amended by this act, the Commissioner of Veterans' Affairs and the Commissioner of Mental Health and Addiction Services shall use such property to provide additional units of permanent supportive housing to veterans who meet the definition of "eligible households" set forth in section 17a-484a of the general statutes. Said commissioners shall adopt regulations, in accordance with the provisions of chapter 54 of the general statutes, to establish standards and procedures for the veterans' supportive housing initiative. For the purposes of this section, "veteran" has the same meaning as provided in section 27-103 of the general statutes.
This act shall take effect as follows and shall amend the following sections:
Section 1 from passage 3-68a
Sec. 2 from passage New section
This act shall take effect as follows and shall amend the following sections:
Section 1
from passage
3-68a
Sec. 2
from passage
New section
Statement of Purpose:
To increase supportive housing options available to homeless veterans.
[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]