Bill Text: HI SB2921 | 2018 | Regular Session | Introduced
Bill Title: Relating To State Library System.
Spectrum: Partisan Bill (Democrat 9-0)
Status: (Engrossed - Dead) 2018-03-22 - Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with none voting aye with reservations; none voting no (0) and Representative(s) Fukumoto, Johanson, C. Lee, Souki, Todd excused (5). [SB2921 Detail]
Download: Hawaii-2018-SB2921-Introduced.html
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THE SENATE |
S.B. NO. |
2921 |
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TWENTY-NINTH LEGISLATURE, 2018 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
RELATING TO STATE LIBRARY SYSTEM.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 312-3.6, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:
"(a) There is established in the state treasury a
libraries special fund into which shall be deposited all moneys collected
pursuant to section 312-3.5, and all moneys designated to be paid to this fund
pursuant to [section] sections 235‑102.5(c)[.] and
523A-26."
SECTION 2. Section 523A-26, Hawaii Revised Statutes, is amended to read as follows:
"[[]§523A-26[]] Deposit of funds.
(a) There is established in the
state treasury the unclaimed property trust fund, which shall be administered
by the administrator. [All] Except
as provided in subsection (e), all moneys collected by the unclaimed
property program from holders of property presumed abandoned and all proceeds
from the sale of unclaimed property, less costs in connection with the sale of
the abandoned property, shall be deposited into the unclaimed property trust
fund.
(b)
Moneys in the unclaimed property trust fund shall be used for the
payment of the following:
(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 part.
(c)
Except as provided in section 523A-12, moneys in the unclaimed property
trust fund shall be invested by the administrator, and all investment earnings
shall be deposited to the credit of the general fund.
(d)
All unencumbered and unexpended moneys in excess of $1,300,000 remaining
on balance in the unclaimed property trust fund on June 30 of each year shall
lapse to the credit of the state general fund.
(e)
The following moneys shall be deposited into the libraries special fund
established pursuant to section 312-3.6:
(1) Any money $10
or under held in custody by the State for over five years after collection by
the unclaimed property program from a holder of property presumed abandoned;
and
(2) Any proceeds from
the sale of property presumed abandoned by the unclaimed property program that
are $10 or under, net of costs in connection with the sale of the abandoned
property, after the proceeds have been held in custody by the State for over
five years;
provided that any money held in custody by the State as described in paragraph (1) or (2) that is over $10 shall be deposited to the credit of the state general fund."
SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 4. This Act shall take effect on July 1, 2018.
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INTRODUCED BY: |
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Report Title:
Unclaimed Property; Public Library System
Description:
Requires any money $10 or under collected by the unclaimed property program and net proceeds $10 or under from the sale of unclaimed property held in state custody for over five years to be deposited into the libraries special fund; and any money over $10 to be deposited to the credit of the state general fund.
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
