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Senate File 2122

Partial Bill History

Bill Text

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  1  8 covering the following:  outdated warrants; outdated sales and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  1 10 tax credits; outdated invoices; fuel and gas tax refunds;
  1 11 outdated homestead and veterans' exemptions; outdated funeral
  1 12 service claims; tractor fees; registration permits; outdated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  1 23 finance may reissue outdated warrants.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  1 26 warrants which have been outdated for two years or more.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  1 27 treasurer shall include information regarding outdated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 29 The provisions of section 556.11 regarding agreements to pay
  1 30 compensation for recovery or assistance in recovery of
  1 31 unclaimed property are applicable to agreements to pay
  1 32 compensation to recover or assist in the recovery of outdated
  1 33 warrants.  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  1 34 assist in the recovery of an outdated warrant made within
  1 35 twenty-four months after the date the warrant becomes outdated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  2  2 four months from the date the warrant becomes outdated is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
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