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AB-2198 Unclaimed property: report to the Legislature.(2019-2020)

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Date Published: 02/12/2020 09:00 PM
AB2198:v99#DOCUMENT


CALIFORNIA LEGISLATURE— 2019–2020 REGULAR SESSION

Assembly Bill
No. 2198


Introduced by Assembly Member Ting

February 12, 2020


An act to add Section 1583 to the Code of Civil Procedure, relating to unclaimed property.


LEGISLATIVE COUNSEL'S DIGEST


AB 2198, as introduced, Ting. Unclaimed property: report to the Legislature.
The Unclaimed Property Law governs the disposition of unclaimed property, including the escheat of certain property to the state. Those provisions require a person holding funds or other property escheated to the state to report to the Controller certain information regarding the property and the owner, and set forth procedures whereby a person may file a claim to the property or to the net proceeds from its sale.
This bill would require the Controller, by January 1, 2022, to submit to the Legislature a report, as specified, stating the Controller’s recommendations for reducing the administrative burden on property owners by streamlining the existing claims process.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: YES   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 Section 1583 is added to the Code of Civil Procedure, to read:

1583.
 (a) By January 1, 2022, the Controller shall submit to the Legislature a report stating the Controller’s recommendations for reducing the administrative burden on property owners by streamlining the claims process described in Section 1540.
(b) The report to the Legislature required by this section shall be submitted in compliance with Section 9795 of the Government Code.