Amend SB 700 as follows:
      (1)  On page 20, line 23, strike "Each" and substitute:
"Except as provided by subsection (c), each"
      (2)  On page 21, line 9, insert the following subsection (c)
to SECTION 21:  "(c)  If the property subject to delivery under
subsection (a) is the contents of a safe deposit box, the
comptroller may instruct a holder to deliver the property on a
specified date after November 1st but before June 1st of the
following year."
      (3)  On page 26, line 1, strike "a <an alphabetical>" and
substitute:  "an alphabetical"
      (4)  On page 42, line 22, insert the following subsection (d)
to SECTION 39:  "(d)  The change in law under Sections 74.201 and
74.202, Property Code, as amended by this Act applies to any notice
requirement provided under Section 74.201 on or after September 1,
1997, including notice requirements for property reported prior to
September 1, 1997."
      (5)  On page 25, line 24, insert the following Section
74.3061 to SECTION 24:  "Sec. 74.3061.  ESCHEAT OF FUNDS IN THE
POSSESSION OF THE UNITED STATES.  (a)  In the event any money is
due to a resident of this state in the nature of a refund, rebate
or other overpayment of taxes or fees to the United States, with
respect to which the resident is likely to have his rights to
secure such refund or rebate barred by a statute of limitations, or
if for any reason at least three years has elapsed after the date
of which the resident could have filed a timely claim for said
refund or rebate, the comptroller is appointed agent of such
resident to apply for said refund or rebate, and is authorized to
do any act which a natural person could do to recover said money.
When the comptroller files an application or initiates any other
proceeding to secure said refund or rebate, the comptroller is
coupled with an interest in the money sought and money recovered.
All property within this provision, including all principal and
interest accruing thereon, is declared to have escheated and to
have become the property of the state.
      (b)  The funds escheated by the state pursuant to this
provision shall be noticed as provided by Section 74.201.  Title to
any such property shall be transferred by the state to any persons
who in accordance with subchapter F can show that the property
belonged to them immediately prior to the escheat or that they were
heirs to those funds immediately prior to the escheat."