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HI HB1020

Bill

Official Source

Status

Passed

6/1/2023

Primary Sponsor

Scott Saiki

Click for details

Origin

House of Representatives

2023 Regular Session

AI Summary

  • Increases the carryover balance limit of the unclaimed property trust fund from $1,300,000 to $2,500,000 as of June 30 each fiscal year
  • Moneys in excess of the new $2,500,000 limit will lapse to the state general fund on June 30 of each year
  • Allows the unclaimed property program to maintain a larger reserve to facilitate timely payment of pending claims from prior fiscal years
  • Takes effect on July 1, 2050

Legislative Description

Relating To Payment Of Claims Of The Unclaimed Property Program.

Department of Budget and Finance

Last Action

Act 036, 06/01/2023 (Gov. Msg. No. 1136).

6/1/2023

Committee Referrals

Ways and Means3/10/2023
Finance1/30/2023

Full Bill Text

No bill text available