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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1154 |
TWENTY-SECOND LEGISLATURE, 2003 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO UNCLAIMED PROPERTY.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 523A-23.5, Hawaii Revised Statutes, is amended to read as follows:
"[[]§523A-23.5[]] Unclaimed property trust fund. (a) There is established in the state treasury the unclaimed property trust fund, which shall be administered by the director.
(b) [
(1) Claims for the return of abandoned property to their rightful owners;
(2) Payment to other states' unclaimed property programs for owners whose last known address was in that other state;
(3) Any costs incurred in connection with the sale of abandoned property;
(4) Costs of mailing and publication in connection with any abandoned property;
(5) Reasonable service charges;
(6) Costs incurred in examining the records of holders of property and in collecting such property from those holders; and
(7) Any other charges, costs, or expenses incurred in the operation, administration, and enforcement of this chapter.
(c) [
(d) All [
SECTION 2. Section 523A-23, Hawaii Revised Statutes, is repealed.
["
(b) Before making any deposit to the credit of the unclaimed property trust fund, the director may deduct:
(1) Any costs in connection with the sale of abandoned property;
(2) Costs of mailing and publication in connection with any abandoned property;
(3) Reasonable service charges; and
(4) Costs incurred in examining records of holders of property and in collecting the property from those holders."]
SECTION 3. There is appropriated out of the unclaimed property trust fund the sum of $313,888, or so much thereof as may be necessary for the fiscal year 2003-2004, and the sum of $313,888, or so much thereof as may be necessary for fiscal year 2004-2005, for the administration and operation of the unclaimed property program.
The sums appropriated shall be expended by the department of budget and finance for the purposes of this Act.
SECTION 4. Statutory material to be repealed is bracketed and stricken. new statutory material is underscored.
SECTION 5. This Act shall take effect on July 1, 2003.
INTRODUCED BY: |
_____________________________ |
BY REQUEST |