Text: SF02121 Text: SF02123 Text: SF02100 - SF02199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 25.2, Code Supplement 1995, is amended 1 2 to read as follows: 1 3 25.2 EXAMINATION OF REPORT &endash; APPROVAL OR REJECTION &endash; 1 4 PAYMENT. 1 5 The state appeal board with the recommendation of the 1 6 special assistant attorney general for claims may approve or 1 7 reject claims against the state of less than ten years 1 8 covering the following: outdated warrants; outdated sales and 1 9 use tax refunds; license refunds; additional agricultural land 1 10 tax credits; outdated invoices; fuel and gas tax refunds; 1 11 outdated homestead and veterans' exemptions; outdated funeral 1 12 service claims; tractor fees; registration permits; outdated 1 13 bills for merchandise; services furnished to the state; claims 1 14 by any county or county official relating to the personal 1 15 property tax credit; and refunds of fees collected by the 1 16 state. Payments authorized by the state appeal board shall be 1 17 paid from the appropriation or fund of original certification 1 18 of the claim. However, if that appropriation or fund has 1 19 since reverted under section 8.33 then such payment authorized 1 20 by the state appeal board shall be out of any money in the 1 21 state treasury not otherwise appropriated. Notwithstanding 1 22 the provisions of this section, the director of revenue and 1 23 finance may reissue outdated warrants. On or before November 1 24 1 of each year, the director of revenue and finance shall 1 25 provide the treasurer of state with a report of all unpaid 1 26 warrants which have been outdated for two years or more. The 1 27 treasurer shall include information regarding outdated 1 28 warrants in the notice published pursuant to section 556.12. 1 29The provisions of section 556.11 regarding agreements to pay1 30compensation for recovery or assistance in recovery of1 31unclaimed property are applicable to agreements to pay1 32compensation to recover or assist in the recovery of outdated1 33warrants.An agreement to pay compensation to recover or 1 34 assist in the recovery of an outdated warrant made within 1 35 twenty-four months after the date the warrant becomes outdated 2 1 is unenforceable. However, an agreement made after twenty- 2 2 four months from the date the warrant becomes outdated is 2 3 valid if the fee or compensation agreed upon is not more than 2 4 fifteen percent of the recoverable property, the agreement is 2 5 in writing and signed by the payee, and the writing discloses 2 6 the nature and value of the property and the name and address 2 7 of the person in possession. This section does not apply to a 2 8 payee who has a bona fide fee contract with a practicing 2 9 attorney regulated under chapter 602, article 10. 2 10 Sec. 2. Section 714.8, Code 1995, is amended by adding the 2 11 following new subsection: 2 12 NEW SUBSECTION. 16. Knowingly provides false information 2 13 to the treasurer of state when claiming, pursuant to section 2 14 556.19, an interest in unclaimed property held by the state, 2 15 or knowingly provides false information to a person or fails 2 16 to disclose the nature, value, and location of unclaimed 2 17 property prior to entering into a contract to receive 2 18 compensation to recover or assist in the recovery of property 2 19 reported as unclaimed pursuant to section 556.11. 2 20 EXPLANATION 2 21 Section 1 of this bill relates to limitations placed upon 2 22 contracts to provide assistance in the recovery of outdated 2 23 warrants held by the department of revenue and finance. 2 24 Warrants are outstanding obligations such as income or sales 2 25 tax refunds issued by the state for property, which includes, 2 26 but is not limited to, money owed to a person by the state. 2 27 Specifically, section 1 provides that an agreement to pay 2 28 compensation to recover or assist in the recovery of an 2 29 outdated warrant made within 24 months after the date the 2 30 warrant becomes outdated is unenforceable. However, an 2 31 agreement made 24 months after the date the warrant becomes 2 32 outdated is valid if the fee or compensation agreed upon is 2 33 not more than 15 percent of the recoverable property, the 2 34 agreement is in writing and signed by the payee, and the 2 35 writing discloses the nature and value of the property and the 3 1 name and address of the person in possession. Section 1 does 3 2 not apply to a payee who has a bona fide fee contract with a 3 3 practicing attorney. 3 4 Section 2 expands the definition of acts constituting 3 5 fraudulent practices to include knowingly providing false 3 6 information for purposes of claiming an interest in unclaimed 3 7 property held by the state or securing a contract with another 3 8 for the recovery of unclaimed property. 3 9 LSB 4007XS 76 3 10 kah/sc/14
Text: SF02121 Text: SF02123 Text: SF02100 - SF02199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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