SENATE BILL REPORT

SB 6476

BYSenators McCaslin, Halsan, Zimmerman and Garrett

Revising provisions for abandoned property held by local governments.

Senate Committee on Governmental Operations

Senate Hearing Date(s):February 4, 1988

Majority Report:  Do pass.

      Signed by Senators McCaslin, Chairman; Zimmerman, Vice Chairman; Garrett, Halsan, Metcalf, Pullen.

Senate Staff:Desley Brooks (786-7443); Sam Thompson (786-7754)

                  February 17, 1988

AS PASSED SENATE, FEBRUARY 16, 1988

BACKGROUND:

Unclaimed checks and warrants in the possession of local governments are subject to the uniform unclaimed property act.  Under the act, local governments must file a report with the Department of Revenue including the name of the owner of the check or warrant.  Within six months of the report filing, the local government must pay or deliver to the Department of Revenue the abandoned intangible property. 

It has been suggested that local governments should be allowed to retain the abandoned intangible property until the owner notifies them and establishes ownership.

SUMMARY:

Local governments which hold money and intangible property may retain such property until the owner notifies them and establishes ownership. 

Appropriation:    none

Revenue:    none

Fiscal Note:      requested February 2, 1988

Senate Committee - Testified: Barney McClure, Department of Revenue (for); Fred Saeger, Washington Association of County Officials (for); Mike Murphy, Thurston County Treasurer (for)