House Bill 680 Summary

• Transfers administration of Idaho's unclaimed property law from the State Tax Commission to the State Treasurer, effective July 1, 2010.

• Requires the State Treasurer to maintain and update quarterly lists of abandoned property on a website, with notice published in official newspapers at least one week before each posting.

• Shifts collection and enforcement authority to the State Treasurer using existing income tax procedures, with unclaimed property liens treated similarly to income tax liens.

• Provides that existing State Tax Commission administrative rules for unclaimed property remain in effect until the State Treasurer promulgates new rules under the Administrative Procedure Act.

• Transfers all employees and tangible personal property of the State Tax Commission related to unclaimed property administration to the State Treasurer; transferred classified employees may retain classification status until they terminate or change positions.