BILL ANALYSIS
Senate Research Center C.S.S.B. 1589
By: Ogden, Wentworth
Committee Report (Substituted)
AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
The goal of this legislation is to increase the amount of unclaimed property that ultimately finds its way back to its rightful owner. The comptroller of public accounts (comptroller) hopes to accomplish this goal by notifying owners before the property is technically unclaimed and sent to the comptroller's office, or once property is technically unclaimed and is being held by the comptroller's office, the comptroller would like to be able to access the most updated data available to be able to make contact and return the unclaimed property.
C.S.S.B. 1589 amends current law relating to the reporting and handling of unclaimed property.
RULEMAKING AUTHORITY
Rulemaking authority is expressly granted to the comptroller of public accounts in SECTION 4 (Section 74.601, Property Code), SECTION 5 (Section 411.0111, Government Code), SECTION 6 (Section 811.010, Government Code), SECTION 7 (Section 821.010, Government Code), and SECTION 8 (Section 301.086, Labor Code) of this bill.
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Section 74.101, Property Code, by amending Subsection (c), as follows:
(c) Requires that the property report include, if known by the holder, among other information the name, social security number, driver's license or state identification number, e-mail address, and the last known address of each person who, from the records of the holder of the property, appears to be the owner of the property, or any person who is entitled to the property, rather than the name and address, if known, of any person who is entitled to the property. Makes nonsubstantive changes.
SECTION 2. Amends Subchapter B, Chapter 74, Property Code, by adding Section 74.1011, as follows:
Sec. 74.1011. NOTICE BY PROPERTY HOLDER REQUIRED. (a) Requires a holder who on June 30 holds property valued at more than $250 that is presumed abandoned under Chapter 72 (Abandonment of Personal Property), 73 (Property Held by Financial Institutions), or 75 (Texas Minerals) of this code or Chapter 154 (Prepaid Funeral Services), Finance Code, on or before the following August 1, except as provided by Subsection (b), to mail to the last known address of any person who, from the records of the holder of the property, appears to be the owner of the property or a person entitled to the property, written notice stating that the holder is holding the property and that the holder may be required to deliver the property to the comptroller of public accounts (comptroller) on or before November 1 if the property is not claimed.
(b) Provides that the notice required under Subsection (a) does not apply to a holder who has already provided such notice to the owner of the property or a person entitled to the property under existing federal law, rules and regulations, or state law within the time specified under Subsection (a), is able to document two unsuccessful attempts to notify the property owner of a person entitled to the property by mail at the person's last known address, or does not have a record of an address for the property owner or any other person entitled to the property.
(c) Authorizes a holder that provides notice under this section to charge the cost of the postage as a service charge against the property.
SECTION 3. Amends the heading of Subchapter C, Chapter 74, Property Code, to read as follows:
SUBCHAPTER C. NOTICE BY COMPTROLLER
SECTION 4. Amends Section 74.601, Property Code, by adding Subsection (g), as follows:
(g) Authorizes the comptroller of public accounts (comptroller), if an owner does not assert a claim for unclaimed money and the owner is reported to be the state or a state agency, to deposit the unclaimed money to the credit of the general revenue fund. Authorizes the comptroller to establish procedures and adopt rules as necessary to implement this subsection.
SECTION 5. Amends Subchapter A, Chapter 411, Government Code, by adding Section 411.0111, as follows:
Sec. 411.0111. PROVISION OF CERTAIN INFORMATION TO COMPTROLLER. (a) Requires the Department of Public Safety of the State of Texas (DPS), not later than June 1 of each year, to provide to the comptroller, for the purpose of assisting the comptroller in the identification of persons entitled to unclaimed property reported to the comptroller, the name, address, social security number, date of birth, and driver's license or state identification number of each person about whom DPS has such information in its records.
(b) Provides that information provided to the comptroller under this section is confidential and may not be disclosed to the public.
(c) Requires DPS to provide the information in the format prescribed by rule of the comptroller.
SECTION 6. Amends Subchapter A, Chapter 811, Government Code, by adding Section 811.010, as follows:
Sec. 811.010. PROVISION OF CERTAIN INFORMATION TO COMPTROLLER. (a) Requires the Employees Retirement System of Texas (ERS), not later than June 1 of each year, to provide to the comptroller, for the purpose of assisting the comptroller in the identification of persons entitled to unclaimed property reported to the comptroller, the name, address, social security number, and date of birth of each member, retiree, and beneficiary from ERS's records.
(b) Provides that information provided to the comptroller under this section is confidential and is prohibited from being disclosed to the public.
(c) Requires ERS to provide the information in the format prescribed by rule of the comptroller.
SECTION 7. Amends Subchapter A, Chapter 821, Government Code, by adding Section 821.010, as follows:
Sec. 821.010. PROVISION OF CERTAIN INFORMATION TO COMPTROLLER. (a) Requires the Teacher Retirement System of Texas (TRS) to provide to the comptroller, not later than June 1 of each year, for the purpose of assisting the comptroller in the identification of persons entitled to unclaimed property reported to the comptroller, the name, address, social security number, and date of birth of each member, retiree, and beneficiary from TRS's records.
(b) Provides that information provided to the comptroller under this section is confidential and may not be disclosed to the public.
(c) Requires TRS to provide the information in the format prescribed by rule of the comptroller.
SECTION 8. Amends Subchapter F, Chapter 301, Labor Code, by adding Section 301.086, as follows:
Sec. 301.086. PROVISION OF CERTAIN INFORMATION TO COMPTROLLER. (a) Requires the Texas Workforce Commission (TWC), not later than June 1 of each year, to provide to the comptroller, for the purpose of assisting the comptroller in the identification of persons entitled to unclaimed property reported to the comptroller, the name, address, social security number, and date of birth of each person about whom TWC has such information in its records.
(b) Provides that information provided to the comptroller under this section is confidential and is prohibited from being disclosed to the public.
(c) Requires TWC to provide the information in the format prescribed by rule of the comptroller.
SECTION 9. Amends the heading to Section 521.044, Transportation Code, to read as follows:
Sec. 521.044. USE OR DISCLOSURE OF SOCIAL SECURITY NUMBER INFORMATION
SECTION 10. Amends Section 521.044(a), Transportation Code, as follows:
(a) Authorizes information provided on a driver's license application that relates to the applicant's social security number to be used by the Department of Public Safety of the State of Texas or be disclosed to certain entities including the unclaimed property division of the comptroller's office. Makes a nonsubstantive change.
SECTION 11. Effective date: upon passage or September 1, 2009.