Bill Text: CA AB3052 | 2017-2018 | Regular Session | Amended
Bill Title: Special Fund for Economic Uncertainties: rental housing: elderly persons.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2018-04-23 - In committee: Set, first hearing. Hearing canceled at the request of author. [AB3052 Detail]
Download: California-2017-AB3052-Amended.html
Amended
IN
Assembly
April 11, 2018 |
Assembly Bill | No. 3052 |
Introduced by Assembly Member Chen |
February 16, 2018 |
LEGISLATIVE COUNSEL'S DIGEST
Existing law contains various provisions relating to affordable housing and housing for elderly persons, including certain provisions administered by the Department of Housing and Community Development. Under existing law, unclaimed money under $50 from a deceased person’s estate that has permanently escheated to the state is deposited in the General Fund, except as specified. Other unclaimed property is deposited in the Unclaimed Property Fund, and, when permanently escheated, is transferred into the General Fund.
Digest Key
Vote: 2/3 Appropriation: YES Fiscal Committee: YES Local Program: NOBill Text
The people of the State of California do enact as follows:
SECTION 1.
Section 16418 of the Government Code is amended to read:16418.
(a) The Special Fund for Economic Uncertainties is hereby created in the State Treasury and is continuously appropriated for the purposes of this section. The contingency reserve for economic uncertainties established within the General Fund by Section 12.3 of the Budget Act of 1980 is hereby discontinued, and any balance in that reserve shall be transferred to the Special Fund for Economic Uncertainties. This special fund represents a reserve fund within the meaning of Section 5 of Article XIII B of the California Constitution. Notwithstanding Sections 16310 and 16314, the Controller may transfer as necessary from the Special Fund for Economic Uncertainties or from the special accounts in the General Fund to the General Fund amounts that are needed to meet cash needs of the General Fund. The Controller shall return all of the moneys so transferred without payment of interest as soon as there are sufficient moneys in the General Fund.(d)
(e)
Money in the Unclaimed Property Fund that has permanently escheated to the state shall, on order of the Controller, be transferred to the
Housing Rehabilitation Loan Fund, established pursuant to Section 50661 of the Health and Safety Code. If property other than money held by the Controller or Treasurer in the name of an account in the Unclaimed Property Fund has permanently escheated to the state, the records of the Controller and Treasurer shall be adjusted to show that this property is held in the name of the
Housing Rehabilitation Loan Fund. Funds or property transferred to the Housing Rehabilitation Loan Fund pursuant to this section shall be administered pursuant to Chapter 6.7 (commencing with Section 50675) of Part 2 of Division 31 of the Health and Safety Code and shall be used for the construction, rehabilitation, or acquisition and rehabilitation of multifamily rental housing developments for elderly persons or households, including onsite support facilities. For purposes of this section, “elderly person or household” means a single person who is 60 years of age or older, or a household in which the head of household is 60 years of age or older.
(a)Notwithstanding any other law, money on deposit with the county treasurer of a county received from a public administrator of the county in trust and to the account of the estate of a deceased person or the creditor of a deceased person, in an amount of fifty dollars ($50) or less as to one estate or creditor,
and not covered by a decree of
distribution that was received or remained on hand after the final accounting in the deceased person’s estate and the discharge of the public administrator as representative of the estate, and that has remained on deposit in trust for a period of 15 years or more unclaimed by
an heir, devisee, or legatee of the deceased person, or by a creditor having an allowed and approved claim against the deceased person’s estate remaining unpaid, is permanently
escheated to the
state. The total of moneys held in trust may be paid in a lump sum by the county treasurer, from funds on hand for the purpose, to the Treasurer, at the time of the next county
settlement, or at a county settlement thereafter. The lump sum payment may be made by designating it to have been made under this section, without the necessity of any further report or statement of the estates or claimants concerned, without the necessity of a court order, and without being subject to
Section 1311 or 1312.
(b)Upon receipt by the Treasurer, permanently escheated money received by him or her under this section shall, subject to the rights of minors and persons of unsound mind as provided for in Section 1430, be deposited in the Housing Rehabilitation Loan Fund established pursuant to Section 50661 of the Health and Safety Code, for the construction, rehabilitation, or acquisition and rehabilitation of multifamily rental housing developments for elderly persons or households, including onsite support
facilities. These funds shall be administered pursuant to Chapter 6.7 (commencing with Section 50675) of Part 2 of Division 31 of the Health and Safety Code.
(c)Money on deposit with a county treasurer received from the coroner of the county in trust and to the account of a deceased
person is permanently escheated, and shall be held, reported, paid to the Treasurer, and deposited as set forth in subdivisions (a) and (b).
(d)For purposes of this section, “elderly person or household” means a single person who is 60 years of age or older, or a household in which the head of household is 60 years of age or older.