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A BILL TO BE ENTITLED
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AN ACT
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relating to the reporting and handling of unclaimed property. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 74.101, Property Code, is amended by |
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amending Subsection (c) and adding Subsection (e) to read as |
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follows: |
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(c) The property report must include: |
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(1) the name, [and] social security number, driver's |
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license or state identification number, and e-mail address, if |
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known, and the last known address, if any, of: |
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(A) each person who, from the records of the |
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holder of the property, appears to be the owner of the property;[,] |
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or |
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(B) [the name and address, if known, of] any |
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person who is entitled to the property; |
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(2) a description of the property, the identification |
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number, if any, and, if appropriate, a balance of each account, |
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except as provided by Subsection (d); |
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(3) the date that the property became payable, |
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demandable, or returnable; |
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(4) the date of the last transaction with the owner |
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concerning the property; and |
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(5) other information that the comptroller by rule |
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requires to be disclosed as necessary for the administration of |
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this chapter. |
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(e) A penalty equal to five percent of the value of the |
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property shall be imposed on a person who knowingly fails to report |
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a social security number as required by Subsection (c). |
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SECTION 2. Subchapter B, Chapter 74, Property Code, is |
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amended by adding Section 74.1011 to read as follows: |
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Sec. 74.1011. NOTICE BY PROPERTY HOLDER REQUIRED. (a) |
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Except as provided by Subsection (b), a holder who on June 30 holds |
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property valued at more than $250 that is presumed abandoned under |
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Chapter 72, 73, or 75 of this code or Chapter 154, Finance Code, |
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shall, on or before the following August 1, mail to any person who, |
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from the records of the holder of the property, appears to be the |
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owner of the property or a person entitled to the property written |
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notice stating that: |
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(1) the holder is holding the property; and |
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(2) the holder may be required to deliver the property |
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to the comptroller on or before November 1 if the property is not |
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claimed. |
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(b) A holder shall send the notice required by this section |
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to the last known address of the person who appears to be the |
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property owner or a person entitled to the property. A holder who |
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does not have a record of an address for the property owner or any |
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other person entitled to the property is not required to provide |
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notice under this section. |
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(c) A holder that provides notice under this section may |
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charge the cost of the postage against the property held as a |
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service charge. |
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SECTION 3. The heading to Subchapter C, Chapter 74, |
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Property Code, is amended to read as follows: |
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SUBCHAPTER C. NOTICE BY COMPTROLLER |
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SECTION 4. Section 74.601, Property Code, is amended by |
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adding Subsection (g) to read as follows: |
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(g) If an owner does not assert a claim for unclaimed money |
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and the owner is reported to be the state or a state agency, the |
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comptroller may deposit the unclaimed money to the credit of the |
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general revenue fund. The comptroller may establish procedures and |
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adopt rules as necessary to implement this subsection. |
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SECTION 5. Subchapter A, Chapter 811, Government Code, is |
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amended by adding Section 811.010 to read as follows: |
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Sec. 811.010. PROVISION OF CERTAIN INFORMATION TO |
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COMPTROLLER. (a) Not later than June 1 of each year, the |
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retirement system shall provide to the comptroller, for the purpose |
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of assisting the comptroller in the identification of persons |
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entitled to unclaimed property reported to the comptroller, the |
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name, address, social security number, and date of birth of each |
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member, retiree, and beneficiary from the retirement system's |
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records. |
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(b) Information provided to the comptroller under this |
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section is confidential and may not be disclosed to the public. |
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(c) The retirement system shall provide the information in |
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the format prescribed by rule by the comptroller. |
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SECTION 6. Subchapter A, Chapter 821, Government Code, is |
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amended by adding Section 821.010 to read as follows: |
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Sec. 821.010. PROVISION OF CERTAIN INFORMATION TO |
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COMPTROLLER. (a) Not later than June 1 of each year, the |
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retirement system shall provide to the comptroller, for the purpose |
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of assisting the comptroller in the identification of persons |
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entitled to unclaimed property reported to the comptroller, the |
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name, address, social security number, and date of birth of each |
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member, retiree, and beneficiary from the retirement system's |
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records. |
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(b) Information provided to the comptroller under this |
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section is confidential and may not be disclosed to the public. |
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(c) The retirement system shall provide the information in |
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the format prescribed by rule by the comptroller. |
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SECTION 7. Subchapter F, Chapter 301, Labor Code, is |
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amended by adding Section 301.086 to read as follows: |
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Sec. 301.086. PROVISION OF CERTAIN INFORMATION TO |
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COMPTROLLER. (a) Not later than June 1 of each year, the commission |
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shall provide to the comptroller, for the purpose of assisting the |
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comptroller in the identification of persons entitled to unclaimed |
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property reported to the comptroller, the name, address, social |
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security number, and date of birth of each person about whom the |
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commission has such information in its records. |
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(b) Information provided to the comptroller under this |
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section is confidential and may not be disclosed to the public. |
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(c) The commission shall provide the information in the |
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format prescribed by rule by the comptroller. |
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SECTION 8. The heading to Section 521.044, Transportation |
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Code, is amended to read as follows: |
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Sec. 521.044. USE OR DISCLOSURE OF SOCIAL SECURITY NUMBER |
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INFORMATION [FOR CHILD SUPPORT COLLECTION]. |
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SECTION 9. Section 521.044(a), Transportation Code, is |
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amended to read as follows: |
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(a) Information provided on a driver's license application |
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that relates to the applicant's social security number may be used |
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only by the department or disclosed only to: |
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(1) the child support enforcement division of the |
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attorney general's office; |
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(2) another state entity responsible for enforcing the |
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payment of child support; [or] |
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(3) the United States Selective Service System as |
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provided by Section 521.147; or |
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(4) the unclaimed property division of the |
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comptroller's office. |
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SECTION 10. This Act takes effect September 1, 2009. |