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)