FINAL BILL REPORT

HB 1909

FULL VETO

BYRepresentatives Horn, Haugen, Ferguson, Cooper, Silver, May, Raiter, Holland, Nelson, Phillips, K. Wilson, Betrozoff, Brumsickle, Walker, Wood, Nealey, Wolfe, Nutley, Rayburn, Zellinsky, Todd, D. Sommers, Rector and Winsley

Authorizing local government to file abandoned intangible property records in archives after five years and transfer the property to its general fund.

House Committe on Local Government

Senate Committee on Governmental Operations

AS PASSED LEGISLATURE

BACKGROUND:

Various statutes require local governments to retain funds to pay a warrant or other instrument that was issued by the local government.

The Uniform Unclaimed Property Act requires most unclaimed intangible property to be forwarded to the Department of Revenue.  However, unclaimed money that is held by a race track as a result of unredeemed pari-mutuel betting tickets is not required to be forwarded to the Department of Revenue.  Pari-mutuel betting is allowed on horse racing at county fairs.

SUMMARY:

A local government that holds abandoned intangible property that is not forwarded to the Department of Revenue shall not be required to maintain current records of this property for longer than five years, and at that time may archive such records and transfer the money to its current expense fund.  However, the local government remains liable to pay the intangible property to a person or entity that subsequently establishes its ownership of this intangible property.

VOTES ON FINAL PASSAGE:

      House 95   2

      Senate    45     0

FULL VETO:  (See VETO MESSAGE)