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A BILL TO BE ENTITLED
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AN ACT
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relating to handling fees imposed by the comptroller for processing |
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unclaimed property. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 74.509, Property Code, is amended to |
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read as follows: |
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Sec. 74.509. HANDLING FEE FOR PROCESSING UNCLAIMED |
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PROPERTY. (a) The comptroller shall deduct from each approved |
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claim a handling fee of 10 percent of the amount of the claim and |
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retain the fee in the general revenue fund [A handling fee may be
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deducted from the amount of the claim payment] if the approved claim |
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[payment] is at least $100. |
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(b) Subject to legislative appropriation, the comptroller |
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may use the retained handling fees to pay the costs to process |
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unclaimed property claims. |
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SECTION 2. This Act takes effect September 1, 2011. |