SB 20-146

  • Colorado Senate Bill
  • 2020 Regular Session
  • Introduced in Senate Feb 25, 2020
  • Passed Senate Feb 20, 2020
  • House
  • Governor

Financial Organizations Unclaimed Property Act

Abstract

Section 1 of the bill defines and exempts a financial organization loyalty card from the property that is subject to the "Revised Uniform Unclaimed Property Act", which is effective on July 1, 2020. Section 2 repeals the presumption of abandonment in the act for demand, savings, or time deposits with a financial organization, and section 3 replaces it by reenacting the current law, which otherwise is effective until July 1, 2020. The continued, current law has the same 5-year period for property to be presumed abandoned but has different owner activities that rebut the presumption of abandonment. It also delays the time that a financial organization is required to deliver this property to the administrator, if a penalty or forfeiture in the payment of interest would result from the delivery of the property. Section 4 requires the administrator to record the partial last-known address, instead of the full address, for each person appearing on a holder's report provided to the administrator, and for this record to be available on the website or database maintained by the administrator, instead of through public inspection. (Note: Italicized words indicate new material added to the original summary; dashes through words indicate deletions from the original summary.) (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Bill Sponsors (2)

Votes


Feb 20, 2020

Actions


May 28, 2020

House

House Committee on Finance Postpone Indefinitely

Finance

Feb 25, 2020

House

Introduced In House - Assigned to Finance

  • Introduction
Finance

Feb 20, 2020

Senate

Senate Third Reading Passed - No Amendments

Feb 19, 2020

Senate

Senate Second Reading Passed with Amendments - Committee

Feb 13, 2020

Senate

Senate Committee on Finance Refer Amended - Consent Calendar to Senate Committee of the Whole

  • Committee-Passage
Finance

Jan 27, 2020

Senate

Introduced In Senate - Assigned to Finance

  • Introduction
Finance

Bill Text

Bill Text Versions Format
Reengrossed (02/20/2020) PDF
Engrossed (02/19/2020) PDF
Introduced (01/27/2020) PDF
PA1 (02/14/2020) PDF
Committee Amendment PDF

Related Documents

Document Format
Fiscal Note FN1 (02/11/2020) PDF
Fiscal Note FN2 (03/05/2020) PDF
Fiscal Note FN3 (08/13/2020) PDF

Sources

Data on Open States is updated nightly from the official website of the Colorado General Assembly.

If you notice any inconsistencies with these official sources, feel free to file an issue.