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AR SB115

Bill

Official Source

Status

Passed

2/14/2013

Primary Sponsor

Robert Thompson

Click for details

Origin

Senate

89th General Assembly (2013 Regular)

AI Summary

  • Amends Arkansas Code § 18-28-201(13)(B) to add a new exclusion to the definition of property under the Unclaimed Property Act
  • Excludes funds distributable from trust or custodial accounts established by State of Arkansas supported retirement systems administered by state agencies
  • Applies only to retirement plans that provide defined benefit pensions qualified for tax deferral under state income tax laws
  • Adds this exclusion alongside existing exceptions for gift certificates, gift cards, merchandise credits, layaway accounts, and certain agricultural cooperative payments under $100

Legislative Description

To Exclude Funds Distributable From A Trust Account Established By A State-supported Retirement System From The Unclaimed Property Act.

Last Action

Notification that SB115 is now Act 86

2/14/2013

Committee Referrals

Public Retirement & Social Security Programs1/23/2013

Full Bill Text

No bill text available