HB-4289, As Passed House, April 13, 2005

SUBSTITUTE FOR

HOUSE BILL NO. 4289

     A bill to amend 1995 PA 29, entitled

"Uniform unclaimed property act,"

(MCL 567.221 to 567.265) by adding section 19a.

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

     Sec. 19a. (1) Beginning October 1, 2005, each year the

administrator shall compare the list of persons appearing to be

owners of abandoned property against records maintained by the

department of treasury that contain social security numbers or tax

identification numbers. If the administrator determines that a

person appears to be the owner of abandoned property being held by

this state, the administrator shall attempt to notify that person

in writing that the person may be the owner of abandoned property

held by this state and request that person to contact the

administrator so that the administrator may obtain sufficient

information to determine whether the person is the owner of the

abandoned property.

     (2) If, based upon the procedure provided in subsection (1),

the administrator has determined that a person is the owner of

abandoned property and has determined that person's current address

and if the property is money, the administrator shall directly pay

the person who is the owner of the abandoned property.

     (3) Funds available under section 24 may be appropriated for

activities identified in this section. The administrator's

obligation under this section is limited to the amount of a

separate line-item appropriation and a separately identified

increase in the number of full-time equivalent employees sufficient

relative to the number of employees performing the administrator's

current duties under this act, identified for the purpose of

funding the administrator's duties under this section and included

in the annual appropriations act making appropriations for the

department of treasury.