Bill Text: NY S00899 | 2011-2012 | General Assembly | Introduced

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Bill Title: Relates to the publication by the state of the receipt of unclaimed funds.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed - Dead) 2012-05-14 - referred to ways and means [S00899 Detail]

Download: New_York-2011-S00899-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                          899
                              2011-2012 Regular Sessions
                                   I N  S E N A T E
                                      (PREFILED)
                                    January 5, 2011
                                      ___________
       Introduced  by Sen. STAVISKY -- read twice and ordered printed, and when
         printed to be committed to the Committee on Finance
       AN ACT to amend the abandoned property law and the state technology law,
         in relation to unclaimed funds
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1.  Subdivision  1  of section 1402 of the abandoned property
    2  law, as added by chapter 261 of the laws of 1978, is amended to read  as
    3  follows:
    4    1. (a) [The state comptroller shall publish:
    5    (i)  in  an  issue  of  the  state  bulletin published in the month of
    6  September, nineteen hundred seventy-nine or  in  a  September,  nineteen
    7  hundred  seventy-nine issue of another publication selected by the comp-
    8  troller, a statement of abandoned property paid to and held by the state
    9  for the period beginning on June first, nineteen  hundred  seventy-eight
   10  and ending on November thirtieth, nineteen hundred seventy-eight;
   11    (ii)  in  an  issue  of  the  state bulletin published in the month of
   12  March, nineteen hundred eighty, or in a March issue of another  publica-
   13  tion selected by the comptroller, a statement of abandoned property paid
   14  to  and  held  by  the state for the period beginning on December first,
   15  nineteen hundred seventy-eight and ending on May thirty-first,  nineteen
   16  hundred seventy-nine.
   17    (b)  In  each  succeeding]  EACH  September and March, the state comp-
   18  troller shall publish[, in the manner provided for in paragraph  (a)  of
   19  this  subdivision]  IN  A NEWSPAPER, AS PROVIDED BY SECTION ONE THOUSAND
   20  FOUR HUNDRED TEN OF THIS ARTICLE, A STATEMENT OF ABANDONED PROPERTY PAID
   21  TO AND HELD BY THE STATE, for the respective annual periods June  first,
   22  through November thirtieth and December first, through May thirty-first.
   23    (B) EACH AND EVERY TIME THE COMPTROLLER PUBLISHES A STATEMENT PURSUANT
   24  TO  PARAGRAPH  (A) OF THIS SUBDIVISION, HE OR SHE SHALL INCLUDE A NOTICE
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD00678-01-1
       S. 899                              2
    1  THAT READERS MAY OBTAIN A LARGE PRINT COPY OF THE UNCLAIMED  FUNDS  LIST
    2  BY  WRITING THE COMPTROLLER'S OFFICE OR HAVE A SEARCH CONDUCTED FOR THEM
    3  BY CALLING A DESIGNATED NUMBER. THIS NOTICE MUST APPEAR IN TYPEFACE  AND
    4  FONT-SIZE  ESTABLISHED  BY  THE  NEW YORK STATE OFFICE FOR TECHNOLOGY TO
    5  ASSIST THE VISUALLY IMPAIRED AND INCLUDE THE PHONE  NUMBER  AND  MAILING
    6  ADDRESS TO THE NEW YORK STATE OFFICE OF THE STATE COMPTROLLER, OFFICE OF
    7  UNCLAIMED FUNDS.
    8    (c)  The  provisions  of this subdivision shall not apply to abandoned
    9  property paid pursuant to section one thousand  three  hundred  of  this
   10  chapter  or  section four hundred twenty-four of the vehicle and traffic
   11  law.
   12    S 2. Subdivision 1 of section 1416 of the abandoned property  law,  as
   13  added by chapter 173 of the laws of 1980, is amended to read as follows:
   14    1. No agreement to locate property held by the comptroller pursuant to
   15  this chapter shall be valid unless that agreement:
   16    (a) is in writing and signed by the property owner;
   17    (b) discloses the nature of the property; [and]
   18    (c) discloses the name and address of the holder; AND
   19    (D)  INCLUDES  LANGUAGE, ESTABLISHED BY THE STATE COMPTROLLER, STATING
   20  THAT THE FUNDS HELD BY THE STATE  CAN  BE  OBTAINED  DIRECTLY  FROM  THE
   21  OFFICE  OF  THE  COMPTROLLER  BY ITS OWNER WITHOUT PAYING A FEE AND THAT
   22  THESE FUNDS WILL BE HELD INDEFINITELY.
   23    S 3. Section 103 of the state technology law is amended  by  adding  a
   24  new subdivision 18 to read as follows:
   25    18.  TO  CONSULT  WITH  THE COMMISSION ON THE BLIND AND VISUALLY HAND-
   26  ICAPPED TO DEVELOP AND MAINTAIN ACCESSIBILITY STANDARDS FOR TYPEFACE AND
   27  FONT SIZE TO ASSIST THE VISUALLY IMPAIRED.
   28    S 4. This act shall take effect on the sixtieth  day  after  it  shall
   29  have become a law.