Bill Text: CA AB3052 | 2017-2018 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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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-Introduced.html

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CALIFORNIA LEGISLATURE— 2017–2018 REGULAR SESSION

Assembly Bill

No. 3052

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Introduced by Assembly Member Chen

February 16, 2018

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An act to amend Sections 1431 and 1444.5 of the Code of Civil Procedure, relating to housing, and making an appropriation therefor.

LEGISLATIVE COUNSEL'S DIGEST

AB 3052, as introduced, Chen. Escheated funds: portable housing: elderly persons.

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.

Existing law establishes the Housing Rehabilitation Loan Fund, which is continuously appropriated to the Department of Housing and Community Development for, among other things, making deferred payment rehabilitation loans for financing all or a portion of the cost of rehabilitating existing housing to meet prescribed rehabilitation standards.

This bill would generally require instead that all unclaimed money, including unclaimed money from a deceased person’s estate, that has permanently escheated to the state be deposited in the Housing Rehabilitation Loan Fund for the construction, rehabilitation, or acquisition and rehabilitation of multifamily rental housing developments for elderly persons or households, as defined, thereby making an appropriation.

Digest Key

Vote: 2/3   Appropriation: YES   Fiscal Committee: YES   Local Program: NO  

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Bill Text

The people of the State of California do enact as follows:

SECTION 1.

 Section 1431 of the Code of Civil Procedure is amended to read:

1431.

 When money Money in the Unclaimed Property Fund has become that has permanently escheated to the state, the amount thereof state shall, on order of the Controller, be transferred to the General Fund. When 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 any an account in the Unclaimed Property Fund has become has permanently escheated to the state, the records of the Controller and Treasurer shall be adjusted to show that such this property is held in the name of the General Fund. 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.

SEC. 2.

 Section 1444.5 of the Code of Civil Procedure is amended to read:

1444.5.

 Notwithstanding (a) Notwithstanding any other provision of law, any 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 any one estate or creditor, and not covered by a decree of distribution, which distribution that was received or remained on hand after the final accounting in such the deceased person’s estate and the discharge of such the public administrator as representative of the estate, and where the money has so that has remained on deposit in trust for a period of 15 years or more unclaimed by any an heir, devisee devisee, or legatee of such the deceased person, or by any a creditor having an allowed and approved claim against the deceased person’s estate remaining unpaid, shall be deemed is permanently escheated to the State of California. state. The total of any such moneys so held in trust unclaimed for such period may be paid in a lump sum by the county treasurer, from such funds as he may have funds on hand for the purpose, to the State Treasurer, at the time of the next county settlement after the effective date of this section, or at any settlement, or at a county settlement thereafter. Such 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 any order of court, a court order, and without being subject to the provisions of Section 1311 or 1312. Upon receipt by the State Treasurer, any permanently escheated money received by him under this section shall forthwith be deposited in the School Land Fund, subject only to the rights of minors and persons of unsound mind saved to them by Section 1430.

(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.

This section shall also apply in all respects to any money

(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, and any such money shall be held, deemed permanently escheated, reported and paid over in like manner as hereinabove set forth. 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.