ID S1152

Expands exemption eligibility to include nonprofit corporations providing broadband service in addition to existing telecommunications and electric service providers.

Defines capital credit as amounts paid by members exceeding costs and expenses, credited to the member's capital account and distributed by the nonprofit corporation.

Allows nonprofit corporations to establish a revolving fund retaining 25% of accumulated unclaimed property or $20,000 (whichever is less) to pay claimants, with excess funds transferable to other entity funds.

Permits nonprofit corporations to elect an alternative exemption allowing them to report unclaimed capital credits according to their own bylaws or policies instead of standard reporting requirements.

Allows nonprofit corporations to use unclaimed capital credits for general membership benefit or community benefit after four years if the owner has not been located and funds not returned, notwithstanding other law.