Jay Obernolte
- Republican
Author
(1) Existing law provides for the escheat of property to the state. Existing law requires all property that escheats to the state to be deposited into the Abandoned Property Account in the Unclaimed Property Fund, which is continuously appropriated for specified purposes. Existing law establishes procedures for submitting a claim for property that has escheated. This bill would create in the Special Deposit Fund the Unclaimed Property Offset Account as a continuously appropriated fund for the payment of moneys to a state or local governmental entity to offset the moneys owed by a person claiming to be the owner of unclaimed property that has escheated to the state. (2) Existing law requires funds in Interest on Lawyers' Trust Accounts (IOLTA) that escheat to the state to be deposited into the Abandoned IOLTA Property Account, which is within the Unclaimed Property Fund. Existing law establishes the IOLTA Claims Reserve Subaccount within the account and requires that 25% of IOLTA escheated funds be deposited into the subaccount to be used by the Controller, upon appropriation by the Legislature, for the purposes of paying refunds, claims, and costs associated with escheated IOLTA funds. This bill would make the IOLTA Claims Reserve Subaccount a continuously appropriated fund and remove the authorization for the subaccount to be used for general costs associated with escheated IOLTA funds.
Approved by the Governor.
Chaptered by Secretary of State - Chapter 390, Statutes of 2018.
Enrolled and presented to the Governor at 3 p.m.
Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 79. Noes 0. Page 6653.).
In Assembly. Concurrence in Senate amendments pending. May be considered on or after August 25 pursuant to Assembly Rule 77.
Read third time. Passed. Ordered to the Assembly. (Ayes 39. Noes 0. Page 5656.).
Read second time. Ordered to third reading.
From committee: Amend, and do pass as amended. (Ayes 7. Noes 0.) (August 16).
Read second time and amended. Ordered returned to second reading.
From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 7. Noes 0.) (June 19). Re-referred to Com. on APPR.
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time. Passed. Ordered to the Senate. (Ayes 78. Noes 0. Page 5418.)
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 16. Noes 0.) (May 25).
In committee: Set, first hearing. Referred to APPR. suspense file.
From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 10. Noes 0.) (March 20). Re-referred to Com. on APPR.
From printer. May be heard in committee March 16.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB2350 | HTML |
| 02/13/18 - Introduced | |
| 08/17/18 - Amended Senate | |
| 08/29/18 - Enrolled | |
| 09/14/18 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
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