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1996 SESSION
HB 1078 Escheats law.
Introduced by: Allen W. Dudley | all patrons ... notes | add to my profiles
SUMMARY:
Escheats law. Makes several changes to current escheats law as a result of recommendations by the joint subcommittee established pursuant to HJR 592:
1. Changes the appointment of escheators from one for every city and county to one for every judicial circuit.
2. Returns the escheat process to a "true escheat" process. "True escheat" means properties enter the process only when the owner dies intestate or dies testate without disposing of the property by will and without leaving any surviving heirs, kindred or spouse to inherit the property. Current law allows certain abandoned properties to go through the process that would qualify under the judicial sale process for delinquent taxes.
3. Clarifies "last owner of record" to mean as it appears in the tax records of the local treasurer.
4. Reduces the time period from not less than 12 months to not less than 6 months within which the Governor must issue an order of sale.
5. Requires the State Treasurer to file an annual report with the Governor containing the names of any escheators who fail to perform any duty required of them.
The measure has an emergency clause.
FULL TEXT
- 01/22/96 House: Presented & ordered printed 964803112 pdf
- 02/09/96 House: Committee substitute printed 966936112-H1 pdf
- 03/18/96 House: Bill text as passed House and Senate (HB1078ER) pdf
- 04/09/96 Governor: Acts of Assembly Chapter text (CHAP0551) pdf
HISTORY
- 01/22/96 House: Presented & ordered printed 964803112
- 01/22/96 House: Referred to Committee for Courts of Justice
- 01/30/96 House: Assigned to C. J. sub-committee: 2
- 02/09/96 House: Reported from C. J. with substitute (22-Y 0-N)
- 02/09/96 House: Committee substitute printed 966936112-H1
- 02/10/96 House: Read first time
- 02/12/96 House: Read second time
- 02/12/96 House: Committee substitute agreed to 966936112-H1
- 02/12/96 House: Emergency clause added
- 02/12/96 House: Engrossed by House - com. sub. 966936112-H1
- 02/13/96 House: Read third time and passed House (100-Y 0-N)
- 02/13/96 House: VOTE: PASSAGE EMERGENCY (100-Y 0-N)
- 02/13/96 House: Communicated to Senate
- 02/14/96 Senate: Read first time
- 02/14/96 Senate: Referred to Committee for Courts of Justice
- 02/21/96 Senate: Reported from Courts of Justice (15-Y 0-N)
- 02/21/96 Senate: Rereferred to Finance
- 02/28/96 Senate: Reported from Finance (17-Y 0-N)
- 02/29/96 Senate: Constitutional reading dispensed (39-Y 0-N)
- 02/29/96 Senate: VOTE: CONST. READING DISPENSED (39-Y 0-N)
- 03/01/96 Senate: Read third time
- 03/01/96 Senate: Passed Senate (40-Y 0-N)
- 03/01/96 Senate: VOTE: PASSAGE (40-Y 0-N)
- 03/18/96 House: Bill text as passed House and Senate (HB1078ER)
- 03/20/96 House: Enrolled
- 03/21/96 Senate: Signed by President
- 03/22/96 House: Signed by Speaker
- 04/03/96 Governor: Approved by Governor-Chapter 551 (effective 4/3/96)
- 04/09/96 Governor: Acts of Assembly Chapter text (CHAP0551)