AZ HB2645

Amends Section 44-329 of the Arizona Revised Statutes regarding transitional provisions for unclaimed property reporting.

Replaces references to "the effective date of this chapter" with the specific date "January 1, 2001" in subsections A and B.

Requires initial reports for newly reportable property to include all items that would have been presumed abandoned within ten years prior to January 1, 2001, retroactively applying current standards.

Clarifies that holders of property remain subject to duties that arose before January 1, 2001, and must comply with enforcement provisions and penalties under prior law if they did not previously comply.