Utah 2025 Regular Session

Utah House Bill HB0506 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	02-14 08:52 H.B. 506
2	2	1
3	3	Unclaimed Property Amendments
4	4	2025 GENERAL SESSION
5	5	STATE OF UTAH
6	6	Chief Sponsor: Troy Shelley
7	7	Senate Sponsor:
8	8	2
9	9
10	10	3
11	11	LONG TITLE
12	12	4
13	13	General Description:
14	14	5
15	15	This bill modifies provisions related to unclaimed property.
16	16	6
17	17	Highlighted Provisions:
18	18	7
19	19	This bill:
20	20	8
21	21	▸ provides for the State Tax Commission to share certain identifying information with the
22	22	9
23	23	unclaimed property administrator for purposes of returning unclaimed property;
24	24	10
25	25	▸ modifies dates on which unclaimed property held in certain tax-deferred and tax-exempt
26	26	11
27	27	accounts is presumed abandoned; and
28	28	12
29	29	▸ makes technical changes.
30	30	13
31	31	Money Appropriated in this Bill:
32	32	14
33	33	None
34	34	15
35	35	Other Special Clauses:
36	36	16
37	37	None
38	38	17
39	39	Utah Code Sections Affected:
40	40	18
41	41	AMENDS:
42	42	19
43	43	59-1-403, as last amended by Laws of Utah 2024, Chapters 25, 35
44	44	20
45	45	67-4a-202, as repealed and reenacted by Laws of Utah 2017, Chapter 371
46	46	21
47	47	67-4a-203, as repealed and reenacted by Laws of Utah 2017, Chapter 371
48	48	22
49	49
50	50	23
51	51	Be it enacted by the Legislature of the state of Utah:
52	52	24
53	53	Section 1. Section 59-1-403 is amended to read:
54	54	25
55	55	59-1-403 . Confidentiality -- Exceptions -- Penalty -- Application to property tax.
56	56	26
57	57	(1) As used in this section:
58	58	27
59	59	(a) "Distributed tax, fee, or charge" means a tax, fee, or charge:
60	60	28
61	61	(i) the commission administers under:
62	62	29
63	63	(A) this title, other than a tax under Chapter 12, Part 2, Local Sales and Use Tax
64	64	30
65	65	Act;
66	66	H.B. 506 H.B. 506 02-14 08:52
67	67	31
68	68	(B) Title 10, Chapter 1, Part 3, Municipal Energy Sales and Use Tax Act;
69	69	32
70	70	(C) Title 10, Chapter 1, Part 4, Municipal Telecommunications License Tax Act;
71	71	33
72	72	(D) Section 19-6-805;
73	73	34
74	74	(E) Section 63H-1-205; or
75	75	35
76	76	(F) Title 69, Chapter 2, Part 4, Prepaid Wireless Telecommunications Service
77	77	36
78	78	Charges; and
79	79	37
80	80	(ii) with respect to which the commission distributes the revenue collected from the
81	81	38
82	82	tax, fee, or charge to a qualifying jurisdiction.
83	83	39
84	84	(b) "Qualifying jurisdiction" means:
85	85	40
86	86	(i) a county, city, or town;
87	87	41
88	88	(ii) the military installation development authority created in Section 63H-1-201; or
89	89	42
90	90	(iii) the Utah Inland Port Authority created in Section 11-58-201.
91	91	43
92	92	(2)(a) Any of the following may not divulge or make known in any manner any
93	93	44
94	94	information gained by that person from any return filed with the commission:
95	95	45
96	96	(i) a tax commissioner;
97	97	46
98	98	(ii) an agent, clerk, or other officer or employee of the commission; or
99	99	47
100	100	(iii) a representative, agent, clerk, or other officer or employee of any county, city, or
101	101	48
102	102	town.
103	103	49
104	104	(b) An official charged with the custody of a return filed with the commission is not
105	105	50
106	106	required to produce the return or evidence of anything contained in the return in any
107	107	51
108	108	action or proceeding in any court, except:
109	109	52
110	110	(i) in accordance with judicial order;
111	111	53
112	112	(ii) on behalf of the commission in any action or proceeding under:
113	113	54
114	114	(A) this title; or
115	115	55
116	116	(B) other law under which persons are required to file returns with the
117	117	56
118	118	commission;
119	119	57
120	120	(iii) on behalf of the commission in any action or proceeding to which the
121	121	58
122	122	commission is a party; or
123	123	59
124	124	(iv) on behalf of any party to any action or proceeding under this title if the report or
125	125	60
126	126	facts shown by the return are directly involved in the action or proceeding.
127	127	61
128	128	(c) Notwithstanding Subsection (2)(b), a court may require the production of, and may
129	129	62
130	130	admit in evidence, any portion of a return or of the facts shown by the return, as are
131	131	63
132	132	specifically pertinent to the action or proceeding.
133	133	64
134	134	(3) This section does not prohibit:
135	135	- 2 - 02-14 08:52 H.B. 506
136	136	65
137	137	(a) a person or that person's duly authorized representative from receiving a copy of any
138	138	66
139	139	return or report filed in connection with that person's own tax;
140	140	67
141	141	(b) the publication of statistics as long as the statistics are classified to prevent the
142	142	68
143	143	identification of particular reports or returns; and
144	144	69
145	145	(c) the inspection by the attorney general or other legal representative of the state of the
146	146	70
147	147	report or return of any taxpayer:
148	148	71
149	149	(i) who brings action to set aside or review a tax based on the report or return;
150	150	72
151	151	(ii) against whom an action or proceeding is contemplated or has been instituted
152	152	73
153	153	under this title; or
154	154	74
155	155	(iii) against whom the state has an unsatisfied money judgment.
156	156	75
157	157	(4)(a) Notwithstanding Subsection (2) and for purposes of administration, the
158	158	76
159	159	commission may by rule, made in accordance with Title 63G, Chapter 3, Utah
160	160	77
161	161	Administrative Rulemaking Act, provide for a reciprocal exchange of information
162	162	78
163	163	with:
164	164	79
165	165	(i) the United States Internal Revenue Service; or
166	166	80
167	167	(ii) the revenue service of any other state.
168	168	81
169	169	(b) Notwithstanding Subsection (2) and for all taxes except individual income tax and
170	170	82
171	171	corporate franchise tax, the commission may by rule, made in accordance with Title
172	172	83
173	173	63G, Chapter 3, Utah Administrative Rulemaking Act, share information gathered
174	174	84
175	175	from returns and other written statements with the federal government, any other
176	176	85
177	177	state, any of the political subdivisions of another state, or any political subdivision of
178	178	86
179	179	this state, except as limited by Sections 59-12-209 and 59-12-210, if the political
180	180	87
181	181	subdivision, other state, or the federal government grant substantially similar
182	182	88
183	183	privileges to this state.
184	184	89
185	185	(c) Notwithstanding Subsection (2) and for all taxes except individual income tax and
186	186	90
187	187	corporate franchise tax, the commission may by rule, in accordance with Title 63G,
188	188	91
189	189	Chapter 3, Utah Administrative Rulemaking Act, provide for the issuance of
190	190	92
191	191	information concerning the identity and other information of taxpayers who have
192	192	93
193	193	failed to file tax returns or to pay any tax due.
194	194	94
195	195	(d) Notwithstanding Subsection (2), the commission shall provide to the director of the
196	196	95
197	197	Division of Environmental Response and Remediation, as defined in Section
198	198	96
199	199	19-6-402, as requested by the director of the Division of Environmental Response
200	200	97
201	201	and Remediation, any records, returns, or other information filed with the
202	202	98
203	203	commission under Chapter 13, Motor and Special Fuel Tax Act, or Section
204	204	- 3 - H.B. 506 02-14 08:52
205	205	99
206	206	19-6-410.5 regarding the environmental assurance program participation fee.
207	207	100
208	208	(e) Notwithstanding Subsection (2), at the request of any person the commission shall
209	209	101
210	210	provide that person sales and purchase volume data reported to the commission on a
211	211	102
212	212	report, return, or other information filed with the commission under:
213	213	103
214	214	(i) Chapter 13, Part 2, Motor Fuel; or
215	215	104
216	216	(ii) Chapter 13, Part 4, Aviation Fuel.
217	217	105
218	218	(f) Notwithstanding Subsection (2), upon request from a tobacco product manufacturer,
219	219	106
220	220	as defined in Section 59-22-202, the commission shall report to the manufacturer:
221	221	107
222	222	(i) the quantity of cigarettes, as defined in Section 59-22-202, produced by the
223	223	108
224	224	manufacturer and reported to the commission for the previous calendar year under
225	225	109
226	226	Section 59-14-407; and
227	227	110
228	228	(ii) the quantity of cigarettes, as defined in Section 59-22-202, produced by the
229	229	111
230	230	manufacturer for which a tax refund was granted during the previous calendar
231	231	112
232	232	year under Section 59-14-401 and reported to the commission under Subsection
233	233	113
234	234	59-14-401(1)(a)(v).
235	235	114
236	236	(g) Notwithstanding Subsection (2), the commission shall notify manufacturers,
237	237	115
238	238	distributors, wholesalers, and retail dealers of a tobacco product manufacturer that is
239	239	116
240	240	prohibited from selling cigarettes to consumers within the state under Subsection
241	241	117
242	242	59-14-210(2).
243	243	118
244	244	(h) Notwithstanding Subsection (2), the commission may:
245	245	119
246	246	(i) provide to the Division of Consumer Protection within the Department of
247	247	120
248	248	Commerce and the attorney general data:
249	249	121
250	250	(A) reported to the commission under Section 59-14-212; or
251	251	122
252	252	(B) related to a violation under Section 59-14-211; and
253	253	123
254	254	(ii) upon request, provide to any person data reported to the commission under
255	255	124
256	256	Subsections 59-14-212(1)(a) through (c) and Subsection 59-14-212(1)(g).
257	257	125
258	258	(i) Notwithstanding Subsection (2), the commission shall, at the request of a committee
259	259	126
260	260	of the Legislature, the Office of the Legislative Fiscal Analyst, or the Governor's
261	261	127
262	262	Office of Planning and Budget, provide to the committee or office the total amount of
263	263	128
264	264	revenues collected by the commission under Chapter 24, Radioactive Waste Facility
265	265	129
266	266	Tax Act, for the time period specified by the committee or office.
267	267	130
268	268	(j) Notwithstanding Subsection (2), the commission shall make the directory required by
269	269	131
270	270	Section 59-14-603 available for public inspection.
271	271	132
272	272	(k) Notwithstanding Subsection (2), the commission may share information with federal,
273	273	- 4 - 02-14 08:52 H.B. 506
274	274	133
275	275	state, or local agencies as provided in Subsection 59-14-606(3).
276	276	134
277	277	(l)(i) Notwithstanding Subsection (2), the commission shall provide the Office of
278	278	135
279	279	Recovery Services within the Department of Health and Human Services any
280	280	136
281	281	relevant information obtained from a return filed under Chapter 10, Individual
282	282	137
283	283	Income Tax Act, regarding a taxpayer who has become obligated to the Office of
284	284	138
285	285	Recovery Services.
286	286	139
287	287	(ii) The information described in Subsection (4)(l)(i) may be provided by the Office
288	288	140
289	289	of Recovery Services to any other state's child support collection agency involved
290	290	141
291	291	in enforcing that support obligation.
292	292	142
293	293	(m)(i) Notwithstanding Subsection (2), upon request from the state court
294	294	143
295	295	administrator, the commission shall provide to the state court administrator, the
296	296	144
297	297	name, address, telephone number, county of residence, and social security number
298	298	145
299	299	on resident returns filed under Chapter 10, Individual Income Tax Act.
300	300	146
301	301	(ii) The state court administrator may use the information described in Subsection
302	302	147
303	303	(4)(m)(i) only as a source list for the master jury list described in Section
304	304	148
305	305	78B-1-106.
306	306	149
307	307	(n)(i) As used in this Subsection (4)(n):
308	308	150
309	309	(A) "GOEO" means the Governor's Office of Economic Opportunity created in
310	310	151
311	311	Section 63N-1a-301.
312	312	152
313	313	(B) "Income tax information" means information gained by the commission that is
314	314	153
315	315	required to be attached to or included in a return filed with the commission
316	316	154
317	317	under Chapter 7, Corporate Franchise and Income Taxes, or Chapter 10,
318	318	155
319	319	Individual Income Tax Act.
320	320	156
321	321	(C) "Other tax information" means information gained by the commission that is
322	322	157
323	323	required to be attached to or included in a return filed with the commission
324	324	158
325	325	except for a return filed under Chapter 7, Corporate Franchise and Income
326	326	159
327	327	Taxes, or Chapter 10, Individual Income Tax Act.
328	328	160
329	329	(D) "Tax information" means income tax information or other tax information.
330	330	161
331	331	(ii)(A) Notwithstanding Subsection (2) and except as provided in Subsection
332	332	162
333	333	(4)(n)(ii)(B) or (C), the commission shall at the request of GOEO provide to
334	334	163
335	335	GOEO all income tax information.
336	336	164
337	337	(B) For purposes of a request for income tax information made under Subsection
338	338	165
339	339	(4)(n)(ii)(A), GOEO may not request and the commission may not provide to
340	340	166
341	341	GOEO a person's address, name, social security number, or taxpayer
342	342	- 5 - H.B. 506 02-14 08:52
343	343	167
344	344	identification number.
345	345	168
346	346	(C) In providing income tax information to GOEO, the commission shall in all
347	347	169
348	348	instances protect the privacy of a person as required by Subsection (4)(n)(ii)(B).
349	349	170
350	350	(iii)(A) Notwithstanding Subsection (2) and except as provided in Subsection
351	351	171
352	352	(4)(n)(iii)(B), the commission shall at the request of GOEO provide to GOEO
353	353	172
354	354	other tax information.
355	355	173
356	356	(B) Before providing other tax information to GOEO, the commission shall redact
357	357	174
358	358	or remove any name, address, social security number, or taxpayer identification
359	359	175
360	360	number.
361	361	176
362	362	(iv) GOEO may provide tax information received from the commission in accordance
363	363	177
364	364	with this Subsection (4)(n) only:
365	365	178
366	366	(A) as a fiscal estimate, fiscal note information, or statistical information; and
367	367	179
368	368	(B) if the tax information is classified to prevent the identification of a particular
369	369	180
370	370	return.
371	371	181
372	372	(v)(A) A person may not request tax information from GOEO under Title 63G,
373	373	182
374	374	Chapter 2, Government Records Access and Management Act, or this section,
375	375	183
376	376	if GOEO received the tax information from the commission in accordance with
377	377	184
378	378	this Subsection (4)(n).
379	379	185
380	380	(B) GOEO may not provide to a person that requests tax information in
381	381	186
382	382	accordance with Subsection (4)(n)(v)(A) any tax information other than the tax
383	383	187
384	384	information GOEO provides in accordance with Subsection (4)(n)(iv).
385	385	188
386	386	(o) Notwithstanding Subsection (2), the commission may provide to the governing board
387	387	189
388	388	of the agreement or a taxing official of another state, the District of Columbia, the
389	389	190
390	390	United States, or a territory of the United States:
391	391	191
392	392	(i) the following relating to an agreement sales and use tax:
393	393	192
394	394	(A) information contained in a return filed with the commission;
395	395	193
396	396	(B) information contained in a report filed with the commission;
397	397	194
398	398	(C) a schedule related to Subsection (4)(o)(i)(A) or (B); or
399	399	195
400	400	(D) a document filed with the commission; or
401	401	196
402	402	(ii) a report of an audit or investigation made with respect to an agreement sales and
403	403	197
404	404	use tax.
405	405	198
406	406	(p) Notwithstanding Subsection (2), the commission may provide information
407	407	199
408	408	concerning a taxpayer's state income tax return or state income tax withholding
409	409	200
410	410	information to the Driver License Division if the Driver License Division:
411	411	- 6 - 02-14 08:52 H.B. 506
412	412	201
413	413	(i) requests the information; and
414	414	202
415	415	(ii) provides the commission with a signed release form from the taxpayer allowing
416	416	203
417	417	the Driver License Division access to the information.
418	418	204
419	419	(q) Notwithstanding Subsection (2), the commission shall provide to the Utah
420	420	205
421	421	Communications Authority, or a division of the Utah Communications Authority, the
422	422	206
423	423	information requested by the authority under Sections 63H-7a-302, 63H-7a-402, and
424	424	207
425	425	63H-7a-502.
426	426	208
427	427	(r) Notwithstanding Subsection (2), the commission shall provide to the Utah
428	428	209
429	429	Educational Savings Plan information related to a resident or nonresident individual's
430	430	210
431	431	contribution to a Utah Educational Savings Plan account as designated on the
432	432	211
433	433	resident or nonresident's individual income tax return as provided under Section
434	434	212
435	435	59-10-1313.
436	436	213
437	437	(s) Notwithstanding Subsection (2), for the purpose of verifying eligibility under
438	438	214
439	439	Sections 26B-3-106 and 26B-3-903, the commission shall provide an eligibility
440	440	215
441	441	worker with the Department of Health and Human Services or its designee with the
442	442	216
443	443	adjusted gross income of an individual if:
444	444	217
445	445	(i) an eligibility worker with the Department of Health and Human Services or its
446	446	218
447	447	designee requests the information from the commission; and
448	448	219
449	449	(ii) the eligibility worker has complied with the identity verification and consent
450	450	220
451	451	provisions of Sections 26B-3-106 and 26B-3-903.
452	452	221
453	453	(t) Notwithstanding Subsection (2), the commission may provide to a county, as
454	454	222
455	455	determined by the commission, information declared on an individual income tax
456	456	223
457	457	return in accordance with Section 59-10-103.1 that relates to eligibility to claim a
458	458	224
459	459	residential exemption authorized under Section 59-2-103.
460	460	225
461	461	(u) Notwithstanding Subsection (2), the commission shall provide a report regarding any
462	462	226
463	463	access line provider that is over 90 days delinquent in payment to the commission of
464	464	227
465	465	amounts the access line provider owes under Title 69, Chapter 2, Part 4, Prepaid
466	466	228
467	467	Wireless Telecommunications Service Charges, to the board of the Utah
468	468	229
469	469	Communications Authority created in Section 63H-7a-201.
470	470	230
471	471	(v) Notwithstanding Subsection (2), the commission shall provide the Department of
472	472	231
473	473	Environmental Quality a report on the amount of tax paid by a radioactive waste
474	474	232
475	475	facility for the previous calendar year under Section 59-24-103.5.
476	476	233
477	477	(w) Notwithstanding Subsection (2), the commission may, upon request, provide to the
478	478	234
479	479	Department of Workforce Services any information received under Chapter 10, Part
480	480	- 7 - H.B. 506 02-14 08:52
481	481	235
482	482	4, Withholding of Tax, that is relevant to the duties of the Department of Workforce
483	483	236
484	484	Services.
485	485	237
486	486	(x) Notwithstanding Subsection (2), the commission may provide the Public Service
487	487	238
488	488	Commission or the Division of Public Utilities information related to a seller that
489	489	239
490	490	collects and remits to the commission a charge described in Subsection 69-2-405(2),
491	491	240
492	492	including the seller's identity and the number of charges described in Subsection
493	493	241
494	494	69-2-405(2) that the seller collects.
495	495	242
496	496	(y)(i) Notwithstanding Subsection (2), the commission shall provide to each
497	497	243
498	498	qualifying jurisdiction the collection data necessary to verify the revenue collected
499	499	244
500	500	by the commission for a distributed tax, fee, or charge collected within the
501	501	245
502	502	qualifying jurisdiction.
503	503	246
504	504	(ii) In addition to the information provided under Subsection (4)(y)(i), the
505	505	247
506	506	commission shall provide a qualifying jurisdiction with copies of returns and other
507	507	248
508	508	information relating to a distributed tax, fee, or charge collected within the
509	509	249
510	510	qualifying jurisdiction.
511	511	250
512	512	(iii)(A) To obtain the information described in Subsection (4)(y)(ii), the chief
513	513	251
514	514	executive officer or the chief executive officer's designee of the qualifying
515	515	252
516	516	jurisdiction shall submit a written request to the commission that states the
517	517	253
518	518	specific information sought and how the qualifying jurisdiction intends to use
519	519	254
520	520	the information.
521	521	255
522	522	(B) The information described in Subsection (4)(y)(ii) is available only in official
523	523	256
524	524	matters of the qualifying jurisdiction.
525	525	257
526	526	(iv) Information that a qualifying jurisdiction receives in response to a request under
527	527	258
528	528	this subsection is:
529	529	259
530	530	(A) classified as a private record under Title 63G, Chapter 2, Government Records
531	531	260
532	532	Access and Management Act; and
533	533	261
534	534	(B) subject to the confidentiality requirements of this section.
535	535	262
536	536	(z) Notwithstanding Subsection (2), the commission shall provide the Alcoholic
537	537	263
538	538	Beverage Services Commission, upon request, with taxpayer status information
539	539	264
540	540	related to state tax obligations necessary to comply with the requirements described
541	541	265
542	542	in Section 32B-1-203.
543	543	266
544	544	(aa) Notwithstanding Subsection (2), the commission shall inform the Department of
545	545	267
546	546	Workforce Services, as soon as practicable, whether an individual claimed and is
547	547	268
548	548	entitled to claim a federal earned income tax credit for the year requested by the
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550	550	269
551	551	Department of Workforce Services if:
552	552	270
553	553	(i) the Department of Workforce Services requests this information; and
554	554	271
555	555	(ii) the commission has received the information release described in Section
556	556	272
557	557	35A-9-604.
558	558	273
559	559	(bb)(i) As used in this Subsection (4)(bb), "unclaimed property administrator" means
560	560	274
561	561	the administrator or the administrator's agent, as those terms are defined in Section
562	562	275
563	563	67-4a-102.
564	564	276
565	565	(ii)(A) Notwithstanding Subsection (2), upon request from the unclaimed property
566	566	277
567	567	administrator and to the extent allowed under federal law, the commission shall
568	568	278
569	569	provide the unclaimed property administrator the name, address, telephone
570	570	279
571	571	number, email address, county of residence, and social security number or
572	572	280
573	573	federal employer identification number on any return filed under Chapter 7,
574	574	281
575	575	Corporate Franchise and Income Taxes, or Chapter 10, Individual Income Tax
576	576	282
577	577	Act.
578	578	283
579	579	(B) The unclaimed property administrator may use the information described in
580	580	284
581	581	Subsection (4)(bb)(ii)(A) only for the purpose of returning unclaimed property
582	582	285
583	583	to the property's owner in accordance with Title 67, Chapter 4a, Revised
584	584	286
585	585	Uniform Unclaimed Property Act.
586	586	287
587	587	(iii) The unclaimed property administrator is subject to the confidentiality provisions
588	588	288
589	589	of this section with respect to any information the unclaimed property
590	590	289
591	591	administrator receives under this Subsection (4)(bb).
592	592	290
593	593	(cc) Notwithstanding Subsection (2), the commission may, upon request, disclose a
594	594	291
595	595	taxpayer's state individual income tax information to a program manager of the Utah
596	596	292
597	597	Fits All Scholarship Program under Section 53F-6-402 if:
598	598	293
599	599	(i) the taxpayer consents in writing to the disclosure;
600	600	294
601	601	(ii) the taxpayer's written consent includes the taxpayer's name, social security
602	602	295
603	603	number, and any other information the commission requests that is necessary to
604	604	296
605	605	verify the identity of the taxpayer; and
606	606	297
607	607	(iii) the program manager provides the taxpayer's written consent to the commission.
608	608	298
609	609	(dd) Notwithstanding Subsection (2), the commission may provide to the Division of
610	610	299
611	611	Finance within the Department of Government Operations any information necessary
612	612	300
613	613	to facilitate a payment from the commission to a taxpayer, including:
614	614	301
615	615	(i) the name of the taxpayer entitled to the payment or any other person legally
616	616	302
617	617	authorized to receive the payment;
618	618	- 9 - H.B. 506 02-14 08:52
619	619	303
620	620	(ii) the taxpayer identification number of the taxpayer entitled to the payment;
621	621	304
622	622	(iii) the payment identification number and amount of the payment;
623	623	305
624	624	(iv) the tax year to which the payment applies and date on which the payment is due;
625	625	306
626	626	(v) a mailing address to which the payment may be directed; and
627	627	307
628	628	(vi) information regarding an account at a depository institution to which the
629	629	308
630	630	payment may be directed, including the name of the depository institution, the
631	631	309
632	632	type of account, the account number, and the routing number for the account.
633	633	310
634	634	(ee) Notwithstanding Subsection (2), the commission shall provide the total amount of
635	635	311
636	636	revenues collected by the commission under Subsection 59-5-202(5):
637	637	312
638	638	(i) at the request of a committee of the Legislature, the Office of the Legislative
639	639	313
640	640	Fiscal Analyst, or the Governor's Office of Planning and Budget, to the committee
641	641	314
642	642	or office for the time period specified by the committee or office; and
643	643	315
644	644	(ii) to the Division of Finance for purposes of the Division of Finance administering
645	645	316
646	646	Subsection 59-5-202(5).
647	647	317
648	648	(ff) Notwithstanding Subsection (2), the commission may provide the Department of
649	649	318
650	650	Agriculture and Food with information from a return filed in accordance with
651	651	319
652	652	Chapter 31, Cannabinoid Licensing and Tax Act.
653	653	320
654	654	(5)(a) Each report and return shall be preserved for at least three years.
655	655	321
656	656	(b) After the three-year period provided in Subsection (5)(a) the commission may
657	657	322
658	658	destroy a report or return.
659	659	323
660	660	(6)(a) Any individual who violates this section is guilty of a class A misdemeanor.
661	661	324
662	662	(b) If the individual described in Subsection (6)(a) is an officer or employee of the state,
663	663	325
664	664	the individual shall be dismissed from office and be disqualified from holding public
665	665	326
666	666	office in this state for a period of five years thereafter.
667	667	327
668	668	(c) Notwithstanding Subsection (6)(a) or (b), GOEO, when requesting information in
669	669	328
670	670	accordance with Subsection (4)(n)(iii), or an individual who requests information in
671	671	329
672	672	accordance with Subsection (4)(n)(v):
673	673	330
674	674	(i) is not guilty of a class A misdemeanor; and
675	675	331
676	676	(ii) is not subject to:
677	677	332
678	678	(A) dismissal from office in accordance with Subsection (6)(b); or
679	679	333
680	680	(B) disqualification from holding public office in accordance with Subsection
681	681	334
682	682	(6)(b).
683	683	335
684	684	(d) Notwithstanding Subsection (6)(a) or (b), for a disclosure of information to the
685	685	336
686	686	Office of the Legislative Auditor General in accordance with Title 36, Chapter 12,
687	687	- 10 - 02-14 08:52 H.B. 506
688	688	337
689	689	Legislative Organization, an individual described in Subsection (2):
690	690	338
691	691	(i) is not guilty of a class A misdemeanor; and
692	692	339
693	693	(ii) is not subject to:
694	694	340
695	695	(A) dismissal from office in accordance with Subsection (6)(b); or
696	696	341
697	697	(B) disqualification from holding public office in accordance with Subsection
698	698	342
699	699	(6)(b).
700	700	343
701	701	(7) Except as provided in Section 59-1-404, this part does not apply to the property tax.
702	702	344
703	703	Section 2. Section 67-4a-202 is amended to read:
704	704	345
705	705	67-4a-202 . When tax-deferred and tax-exempt retirement accounts presumed
706	706	346
707	707	abandoned.
708	708	347
709	709	(1) Subject to Section 67-4a-208, property held in a pension account or retirement account
710	710	348
711	711	that qualifies for tax deferral or tax exemption under the income tax laws of the United
712	712	349
713	713	States is presumed abandoned if the property is unclaimed by the apparent owner [three
714	714	350
715	715	years ]after the later of:
716	716	351
717	717	(a) [the later of] three years after the following dates:
718	718	352
719	719	(i) except as in Subsection (1)(a)(ii), the date a communication sent by the holder by
720	720	353
721	721	first-class United States mail to the apparent owner is returned to the holder
722	722	354
723	723	undelivered by the United States Postal Service; or
724	724	355
725	725	(ii) if a communication under Subsection (1)(a)(i) is re-sent within 30 days after the
726	726	356
727	727	date the first communication is returned undelivered, the date the second
728	728	357
729	729	communication was returned undelivered by the United States Postal Service; or
730	730	358
731	731	(b) the earlier of the following dates:
732	732	359
733	733	(i) three years after the date on which the apparent owner becomes [70.5 years of age]
734	734	360
735	735	the age specified under the income tax laws of the United States by which
736	736	361
737	737	distribution of the property must occur to avoid a tax penalty, if determinable by
738	738	362
739	739	the holder; or
740	740	363
741	741	(ii) one year after the date of the mandatory distribution following death if:
742	742	364
743	743	(A) the income tax laws of the United States requires distribution to avoid a tax
744	744	365
745	745	penalty; and
746	746	366
747	747	(B) the holder receives confirmation of the death of the apparent owner in the
748	748	367
749	749	ordinary course of the holder's business or confirms the death of the apparent
750	750	368
751	751	owner under Subsection (2).
752	752	369
753	753	[(ii) if the Internal Revenue Code, Sec. 1 et seq., requires distribution to avoid a tax
754	754	370
755	755	penalty, two years after the date the holder:]
756	756	- 11 - H.B. 506 02-14 08:52
757	757	371
758	758	[(A) receives confirmation of the death of the apparent owner in the ordinary
759	759	372
760	760	course of the holder's business; or]
761	761	373
762	762	[(B) confirms the death of the apparent owner under Subsection (2).]
763	763	374
764	764	(2) If a holder in the ordinary course of the holder's business receives notice or an
765	765	375
766	766	indication of the death of an apparent owner and Subsection (1)(b) applies, the holder
767	767	376
768	768	shall attempt not later than 90 days after receipt of the notice or indication to confirm
769	769	377
770	770	whether the apparent owner is deceased.
771	771	378
772	772	(3)(a) Subject to Subsection (3)(b), if the holder does not send communications to the
773	773	379
774	774	apparent owner of an account described in Subsection (1) by first-class United States
775	775	380
776	776	mail on at least an annual basis, the holder shall attempt to confirm the apparent
777	777	381
778	778	owner's interest in the property by sending the apparent owner an electronic mail
779	779	382
780	780	communication not later than two years after the apparent owner's last indication of
781	781	383
782	782	interest in the property.
783	783	384
784	784	(b) The holder shall promptly attempt to contact the apparent owner by first-class United
785	785	385
786	786	States mail if:
787	787	386
788	788	(i) the holder does not have information needed to send the apparent owner an
789	789	387
790	790	electronic mail communication or the holder believes that the apparent owner's
791	791	388
792	792	electronic mail address in the holder's records is not valid;
793	793	389
794	794	(ii) the holder receives notification that the electronic mail communication was not
795	795	390
796	796	received; or
797	797	391
798	798	(iii) the apparent owner does not respond to the electronic mail communication
799	799	392
800	800	within 30 days after the communication was sent.
801	801	393
802	802	(4) If first-class United States mail sent under Subsection (3) is returned to the holder
803	803	394
804	804	undelivered by the United States Postal Service, the property is presumed abandoned
805	805	395
806	806	three years after the later of:
807	807	396
808	808	(a) except as in Subsection (4)(b), the date a communication to contact the apparent
809	809	397
810	810	owner sent by first-class United States mail is returned to the holder undelivered;
811	811	398
812	812	(b) if the communication under Subsection (4)(a) is re-sent within 30 days after the date
813	813	399
814	814	the first communication is returned undelivered, the date the second communication
815	815	400
816	816	was returned undelivered; or
817	817	401
818	818	(c) the date established by Subsection (1)(b).
819	819	402
820	820	Section 3. Section 67-4a-203 is amended to read:
821	821	403
822	822	67-4a-203 . When other tax-deferred and tax-exempt accounts presumed
823	823	404
824	824	abandoned.
825	825	- 12 - 02-14 08:52 H.B. 506
826	826	405
827	827	Subject to Section 67-4a-208 and except for property described in Section 67-4a-202
828	828	406
829	829	and property held in a plan described in Section 529A, Internal Revenue Code, property held
830	830	407
831	831	in an account or plan, including a health savings account, that qualifies for tax deferral or tax
832	832	408
833	833	exemption under the income tax laws of the United States is presumed abandoned if the
834	834	409
835	835	property is unclaimed by the apparent owner three years after the earlier of:
836	836	410
837	837	(1) the date, if determinable by the holder, specified in the income tax laws and regulations
838	838	411
839	839	of the United States by which distribution of the property must begin to avoid a tax
840	840	412
841	841	penalty, with no distribution having been made; or
842	842	413
843	843	(2) 30 years after the date the account was opened.
844	844	414
845	845	Section 4. Effective Date.
846	846	415
847	847	This bill takes effect on May 7, 2025.
848	848	- 13 -