February 15, 2005, Introduced by Rep. Mortimer and referred to the Committee on Tax Policy.
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. Not later than May 15 each year, the administrator
shall compare the list of persons appearing to be owners of
abandoned property against records maintained by the state
treasurer, including, but not limited to, records containing social
security numbers, tax identification numbers, and other appropriate
identifiers. The administrator shall do 1 of the following:
(a) Except as otherwise provided in subdivision (b), the
administrator shall notify the persons appearing to be owners of
abandoned property of the property being held by this state and the
procedures to claim that property.
(b) If the administrator is certain that he or she has
correctly identified a person appearing to be the owner of
abandoned property in his or her records and if that property is
money, the administrator shall directly pay the person appearing to
be the owner of the abandoned property.