September 2022 │ Legislation & Regulation Update
The Unclaimed Property Legislative Alert
Summary of Legislation — Week Ending September 23, 2022
NEW JERSEY: Assembly Bill 4589. Introduced legislation requires a judgment search to determine whether an unclaimed property claimant is a child support debtor before a claim is paid. Where a child support judgment exists, the property shall be held and surrendered to the Department of Human Services upon notice of lien or levy.
Summary of Legislation — Week Ending September 16, 2022
CALIFORNIA: Assembly Bill 1208 (effective January 1, 2023). Enacted legislation allows the Controller to take steps to streamline the payment of claims.
CALIFORNIA: Assembly Bill 2280 (effective January 1, 2023). Enacted legislation allows the Controller to establish a voluntary compliance program for holders. Certain records provided to the Controller or its auditor are not subject to public disclosure requirements.
Summary of Regulations — Week Ending September 16, 2022
FLORIDA: Rule 69G-20.0021 (effective September 29, 2022). Enacted regulations amend certain procedures for filing claims, including specifying when claimants may use electronic signatures on claim forms and the process for submitting such signatures when allowed.
Summary of Legislation — Week Ending September 9, 2022
PENNSYLVANIA: House Bill 2796. Introduced legislation requires notice by the State Treasurer at least once every five years to the governing body of any county, city, borough, township, incorporated town, or school district that is reported as the apparent owner of unclaimed property. This notice is in addition to other notice and publication requirements.
Summary of Regulations — Week Ending September 2, 2022
FLORIDA: Rule 69G-20.050. Proposed regulations delete existing language incorporating forms governing various audit procedures. An accompanying statement indicates the relevant audit procedures are addressed in third-party audit contracts.
With The Unclaimed Property Legislative Alert Summary of Legislation and Regulation, you receive an overview of the latest information on unclaimed property legislative updates, regulatory changes, and statutory amendments across the United States and Canada. The publicly available information contained herein has been compiled by Kelmar Associates, LLC and does not constitute legal advice or analysis of any kind. The summary information is generally compiled on a weekly basis, as applicable, and is shared on Kelmar's website each month. For more information, please refer to each state unclaimed property bill.