82R4234 NC-D
By: Otto H.B. No. 3652
A BILL TO BE ENTITLED
AN ACT
relating to handling fees imposed by the comptroller for processing
unclaimed property.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 74.509, Property Code, is amended to
read as follows:
Sec. 74.509. HANDLING FEE FOR PROCESSING UNCLAIMED
PROPERTY. (a) The comptroller shall deduct from each approved
claim a handling fee of 10 percent of the amount of the claim and
retain the fee in the general revenue fund [A handling fee may be
deducted from the amount of the claim payment] if the approved claim
[payment] is at least $100.
(b) Subject to legislative appropriation, the comptroller
may use the retained handling fees to pay the costs to process
unclaimed property claims.
SECTION 2. This Act takes effect September 1, 2011.