81R8201 AJA-D
By: Ogden S.B. No. 1589
A BILL TO BE ENTITLED
AN ACT
relating to the reporting of unclaimed property.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 74.101, Property Code, is amended by
amending Subsection (c) and adding Subsection (e) to read as
follows:
(c) The property report must include:
(1) the name, [and] social security number, driver's
license or state identification number, and e-mail address, if
known, and the last known address, if any, of:
(A) each person who, from the records of the
holder of the property, appears to be the owner of the property;[,]
or
(B) [the name and address, if known, of] any
person who is entitled to the property;
(2) a description of the property, the identification
number, if any, and, if appropriate, a balance of each account,
except as provided by Subsection (d);
(3) the date that the property became payable,
demandable, or returnable;
(4) the date of the last transaction with the owner
concerning the property; and
(5) other information that the comptroller by rule
requires to be disclosed as necessary for the administration of
this chapter.
(e) A penalty equal to five percent of the value of the
property shall be imposed on a person who knowingly fails to report
a social security number as required by Subsection (c).
SECTION 2. Subchapter B, Chapter 74, Property Code, is
amended by adding Section 74.1011 to read as follows:
Sec. 74.1011. NOTICE BY PROPERTY HOLDER REQUIRED. (a)
Except as provided by Subsection (b), a holder who on June 30 holds
property valued at more than $250 that is presumed abandoned under
Chapter 72, 73, or 75 of this code or Chapter 154, Finance Code,
shall, on or before the following August 1, mail to any person who,
from the records of the holder of the property, appears to be the
owner of the property or a person entitled to the property written
notice stating that:
(1) the holder is holding the property; and
(2) the holder may be required to deliver the property
to the comptroller on or before November 1 if the property is not
claimed.
(b) A holder shall send the notice required by this section
to the last known address of the person who appears to be the
property owner or a person entitled to the property. A holder who
does not have a record of an address for the property owner or any
other person entitled to the property is not required to provide
notice under this section.
(c) A holder that provides notice under this section may
charge the cost of the postage against the property held as a
service charge.
SECTION 3. The heading of Subchapter C, Chapter 74, is
amended to read as follows:
SUBCHAPTER C. NOTICE BY COMPTROLLER
SECTION 4. Subchapter A, Chapter 411, Government Code, is
amended by adding Section 411.0111 to read as follows:
Sec. 411.0111. PROVISION OF CERTAIN INFORMATION TO
COMPTROLLER. (a) Not later than June 1 of each year, the
department shall provide to the comptroller, for the purpose of
assisting the comptroller in the identification of persons entitled
to unclaimed property reported to the comptroller, the name,
address, social security number, date of birth, and driver's
license or state identification number of each person about whom
the department has such information in its records.
(b) Information provided to the comptroller under this
section is confidential and may not be disclosed to the public.
(c) The department shall provide the information in the
format prescribed by rule by the comptroller.
SECTION 5. Subchapter A, Chapter 811, Government Code, is
amended by adding Section 811.010 to read as follows:
Sec. 811.010. PROVISION OF CERTAIN INFORMATION TO
COMPTROLLER. (a) Not later than June 1 of each year, the
retirement system shall provide to the comptroller, for the purpose
of assisting the comptroller in the identification of persons
entitled to unclaimed property reported to the comptroller, the
name, address, social security number, and date of birth of each
member, retiree, and beneficiary from the retirement system's
records.
(b) Information provided to the comptroller under this
section is confidential and may not be disclosed to the public.
(c) The retirement system shall provide the information in
the format prescribed by rule by the comptroller.
SECTION 6. Subchapter A, Chapter 821, Government Code, is
amended by adding Section 821.010 to read as follows:
Sec. 821.010. PROVISION OF CERTAIN INFORMATION TO
COMPTROLLER. (a) Not later than June 1 of each year, the retirement
system shall provide to the comptroller, for the purpose of
assisting the comptroller in the identification of persons entitled
to unclaimed property reported to the comptroller, the name,
address, social security number, and date of birth of each member,
retiree, and beneficiary from the retirement system's records.
(b) Information provided to the comptroller under this
section is confidential and may not be disclosed to the public.
(c) The retirement system shall provide the information in
the format prescribed by rule by the comptroller.
SECTION 7. Subchapter F, Chapter 301, Labor Code, is
amended by adding Section 301.086 to read as follows:
Sec. 301.086. PROVISION OF CERTAIN INFORMATION TO
COMPTROLLER. (a) Not later than June 1 of each year, the commission
shall provide to the comptroller, for the purpose of assisting the
comptroller in the identification of persons entitled to unclaimed
property reported to the comptroller, the name, address, social
security number, and date of birth of each person about whom the
commission has such information in its records.
(b) Information provided to the comptroller under this
section is confidential and may not be disclosed to the public.
(c) The commission shall provide the information in the
format prescribed by rule by the comptroller.
SECTION 8. This Act takes effect September 1, 2009.