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NY A10219
Bill
Status
11/22/2024
Primary Sponsor
John McDonald
Click for details
AI Summary
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Amends the abandoned property law to authorize the state comptroller to establish an abandoned property expedited payment program for claims below specified monetary thresholds.
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Allows the comptroller to return property or proceeds from sale to apparent owners without requiring a formal claim filing, provided the comptroller verifies the apparent owner is the rightful owner.
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Sets the maximum property value eligible for expedited payment at $250 for the calendar year beginning January 1, 2025.
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Permits the comptroller to determine the property value threshold for calendar years beginning January 1, 2026 and thereafter through promulgated rules and regulations.
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Takes effect immediately upon enactment.
Legislative Description
Provides for expedited payments of abandoned property under a certain monetary threshold by the state comptroller pursuant to an abandoned property expedited payment program.
Last Action
signed chap.498
11/22/2024