MO HB1075

Reduces the abandonment period for payroll checks from five years to three years, effective January 1, 2015.

Creates a new process for United States savings bonds to escheat to Missouri after remaining unclaimed for more than three years following their maturity, with the state treasurer initiating civil action in Cole County circuit court for formal escheatment.

Exempts outstanding checks, drafts, credit balances, and overpayments issued to business entities from abandonment presumption if the holder and business entity maintain an ongoing business relationship during the dormancy period.

Excludes business credits between two business entities or associations from unclaimed property provisions.

Establishes a three-year limitation for the state treasurer to enforce unclaimed property reporting requirements from the date a holder files a report, with exceptions for fraudulent reports (six years) and unfiled reports (no limitation).