ENROLLED
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Regular Session, 2013
HOUSE BILL NO. 348
BY REPRESENTATIVE ARNOLD
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
AN ACT1
To amend and reenact R.S. 9:173(A) and to enact R.S. 9:154.2, 171(C), and 173(C), relative2
to the Uniform Unclaimed Property Act; to declare certain funds as abandoned3
unclaimed property; to provide for disposition of certain abandoned unclaimed4
funds; to create the Geaux Pass Transition Fund as a special fund in the state treasury5
and provide for the disposition of monies in the fund; to limit the time within which6
to bring certain actions; to limit the time required to retain certain records; and to7
provide for related matters.8
Be it enacted by the Legislature of Louisiana:9
Section 1. R.S. 9:154.2 is hereby enacted to read as follows:10
§154.2. Crescent City Connection; Geaux Pass accounts and deposits; tolls; Geaux11
Pass Transition Fund; disposition12
A. Notwithstanding the provisions of R.S. 9:154 or any other provision of13
law to the contrary, the provisions of this Section shall apply to account balances and14
toll tag deposits for all Geaux Pass accounts with the primary designation of the15
Crescent City Connection Bridge that have had no activity on Louisiana Highway16
1 since July 1, 2012, and all tolls paid to cross the Crescent City Connection Bridge17
for the period beginning January 1, 2013, and continuing through March 5, 2013.18
B. On July 1, 2013, any monetary funds remaining in any Geaux Pass19
account, any monetary funds remaining for toll tag deposits for all Geaux Pass20
accounts with the primary designation of the Crescent City Connection Bridge that21
have had no activity on Louisiana Highway 1 on or after July 1, 2012, and any22
monetary funds paid as a toll to cross the Crescent City Connection Bridge from23 ENROLLEDHB NO. 348
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January 1, 2013, through March 5, 2013, and which monetary funds have not been1
claimed by any person as of June 15, 2013, shall be deemed abandoned funds for the2
purposes of treatment as unclaimed property in accordance with the provisions of3
this Section.4
C. Funds that are deemed abandoned funds pursuant to this Section shall be5
immediately reported and transferred from the Department of Transportation and6
Development to the state treasurer in his capacity as administrator of the Uniform7
Unclaimed Property Act. The state treasurer shall deposit these funds into the Geaux8
Pass Transition Fund as provided in this Section, and shall through June 30, 2014,9
provide for the return of such funds to their owners in accordance with the Uniform10
Unclaimed Property Act. The state treasurer shall further provide for the payment of11
all unexpended and unencumbered funds remaining in the Geaux Pass Transition12
Fund on June 30, 2014, in accordance with the provisions of this Section.13
D.(1) There is hereby created the Geaux Pass Transition Fund as a special14
fund in the state treasury, hereinafter referred to as the "fund". The source of monies15
for the fund shall be the monies transferred from the Department of Transportation16
and Development to the state treasurer in his capacity as administrator of the17
Uniform Unclaimed Property Act pursuant to the provisions of this Section.18
(2) After compliance with the requirements of Article VII, Section 9(B) of19
the Constitution of Louisiana, relative to the Bond Security and Redemption Fund,20
an amount equal to that deposited into the state treasury from the foregoing sources21
shall be deposited in and credited to the fund. The monies in the fund shall be22
invested by the treasurer in the same manner as the state general fund, and interest23
earnings shall be deposited into the fund.24
(3) All unexpended and unencumbered monies remaining in the fund on June25
30, 2014, shall be appropriated as follows:26
(a) An amount not to exceed thirty percent of the monies in the fund shall be27
appropriated to the Department of Transportation and Development for operational28
and maintenance costs for the New Orleans ferries, formerly operated by its Crescent29
City Connection Division.30 ENROLLEDHB NO. 348
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(b) The balance of the monies in the fund as of June 30, 2014, shall be1
appropriated to the New Orleans Regional Planning Commission for lighting of the2
eastbank and westbank approaches to the Crescent City Connection Bridge,3
including General DeGaulle and the Westbank Expressway approach through ground4
level, improvements to ingress and egress points, lighting, maintenance, grass5
cutting, and landscaping of the Westbank Expressway and its connecting arteries.6
(c) The state treasurer shall be relieved of all liability which may arise with7
respect to such distribution of funds.8
E. All data associated with funds transferred to the state treasurer pursuant9
to this Section shall be provided to the Unclaimed Property Division in an electronic10
format as designated by such division.11
F. For the purposes of this Section, holder requirements under R.S. 9:15912
shall be deemed waived and the Department of Transportation and Development13
shall be deemed a holder in good faith pursuant to provisions of the Uniform14
Unclaimed Property Act.15
G. The state treasurer in his capacity as administrator of the Uniform16
Unclaimed Property Act may establish policies and procedures as necessary to17
implement the provisions of this Section.18
H. All books, papers, and records transferred to the state treasurer pursuant19
to this Section or as a result of the Act originating as House Bill 348 of the 201320
Regular Session of the Legislature shall be retained for a period of no less than five21
years following such transfer.22
I. The provisions of this Section shall supersede and control to the extent of23
conflict with any other provision of law.24
Section 2. R.S. 9:173(A) is hereby amended and reenacted and R.S. 9:171(C) and25
173(C) are hereby enacted to read as follows: 26
§171. Periods of limitation27
* * *28
C. Notwithstanding the provisions of this Section or any other law to the29
contrary, an action or proceeding by the administrator to enforce the provisions of30 ENROLLEDHB NO. 348
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this Chapter shall not be maintained against a federally insured financial institution1
for any violation that occurred more than six years prior to the most recently2
completed auditable period which ends on June thirtieth of each year as provided by3
R.S. 9:159(D).4
* * *5
§173. Retention of records6
A. A holder required to file a report under R.S. 9:159 shall maintain its7
records containing the information required to be included in the report until the8
holder files the report and for ten years after the date of filing, unless a shorter time9
is provided in Subsection B or C of this Section or by rule of the administrator.10
* * *11
C.(1) A federally insured financial institution shall maintain its report filed12
pursuant to R.S. 9:159 for six years after the date the report is filed.13
(2) For purposes of this Chapter, a federally insured financial institution shall14
maintain its records containing the information required to be included in the report15
until the holder files the report and for six years after the date of filing.16
Section 3. The provisions of Section 1 and this Section of this Act shall become17
effective upon signature by the governor or, if not signed by the governor, upon expiration18
of the time for bills to become law without signature by the governor, as provided by Article19
III, Section 18 of the Constitution of Louisiana. If vetoed by the governor and subsequently20
approved by the legislature, the provisions of Section 1and this Section of this Act shall21
become effective on the day following such approval.22
SPEAKER OF THE HOUSE OF REPRESENTATI VES
PRESIDENT OF THE SENATE
GOVERNOR OF THE STATE OF LOUISIANA
APPROVED: