By Junell H.B. No. 1840 77R4341 PAM-D A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to authorizing the comptroller to waive penalties and 1-3 interest relating to the delivery of certain delinquent unclaimed 1-4 property. 1-5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-6 SECTION 1. Section 74.707, Property Code, is amended by 1-7 adding Subsection (c) to read as follows: 1-8 (c) The comptroller may waive penalty and interest imposed 1-9 on delinquent property if the holder delivering the property was 1-10 required to deliver the property: 1-11 (1) on or before November 1, 1997, under Section 1-12 74.301(a); or 1-13 (2) on a specified date after November 1, 1997, but 1-14 before June 1, 1998, under Section 74.301(c). 1-15 SECTION 2. (a) This Act takes effect September 1, 2001. 1-16 (b) The change in law made by this Act applies only to 1-17 unclaimed property delivered to the comptroller under Subchapter D, 1-18 Chapter 74, Property Code, on or after the effective date of this 1-19 Act. Unclaimed property delivered to the comptroller before the 1-20 effective date of this Act is governed by the law in effect at the 1-21 time the property was delivered, and the former law is continued in 1-22 effect for that purpose.