Honorable Nicole Collier, Chair, House Committee on Criminal Jurisprudence
FROM:
John McGeady, Assistant Director Sarah Keyton, Assistant Director Legislative Budget Board
IN RE:
HB1499 by Metcalf (Relating to authorizing the comptroller to release a reported owner's unclaimed property to the owner's crime victim in certain circumstances.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend Section 74.501 of the Property Code, regarding unclaimed property and claims filed with the Comptroller's Office.
The bill would allow the Comptroller to approve an unclaimed property claim submitted by a claimant who was the victim of a criminal offense for which the reported owner of the unclaimed property was convicted if the claimant is entitled to payment from the reported owner under a final judgment against the reported owner related to that criminal offense or a final order of restitution related to that criminal offense and if the reported owner is incarcerated in federal or state custody.
The Comptroller of Public Accounts indicates there would be a cost of $300,000 in the 2020-21 biennium to implement the provisions of the bill.
Local Government Impact
No fiscal implication to units of local government is anticipated.