| 1 | Representative Lopez-Cantera offered the following: |
| 2 |
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| 3 | Amendment (with title amendment) |
| 4 | Remove lines 128-187 and insert: |
| 5 | Section 3. Subsections (3) and (4) of section 717.117, |
| 6 | Florida Statutes, are amended, and paragraph (c) is added to |
| 7 | subsection (7) of said section, to read: |
| 8 | 717.117 Report of unclaimed property.-- |
| 9 | (3) The report must be filed before May 1 of each year. |
| 10 | The Such report shall apply to the preceding calendar year. The |
| 11 | department may impose and collect a penalty of $10 per day up to |
| 12 | a maximum of $500 for the failure to timely report or the |
| 13 | failure to include in a report information required by this |
| 14 | chapter. The penalty shall be remitted to the department within |
| 15 | 30 days after the date of the notification to the holder that |
| 16 | the penalty is due and owing. As necessary for proper |
| 17 | administration of this chapter, the department may waive any |
| 18 | penalty due with appropriate justification. On written request |
| 19 | by any person required to file a report and upon a showing of |
| 20 | good cause, the department may postpone the reporting date. The |
| 21 | department must provide information contained in a report filed |
| 22 | with the department to any person requesting a copy of the |
| 23 | report or information contained in a report, to the extent the |
| 24 | information requested is not confidential, within 90 days after |
| 25 | the report has been processed and added to the unclaimed |
| 26 | property database subsequent to a determination that the report |
| 27 | is accurate and that the reported property is the same as the |
| 28 | remitted property. |
| 29 | (4) Holders of inactive accounts having a value of $50 or |
| 30 | more shall use due diligence to locate apparent owners. Not more |
| 31 | than 120 days and not less than 60 days prior to filing the |
| 32 | report required by this section, the holder in possession of |
| 33 | property presumed unclaimed and subject to custody as unclaimed |
| 34 | property under this chapter shall send written notice to the |
| 35 | apparent owner at the apparent owner's last known address |
| 36 | informing the apparent owner that the holder is in possession of |
| 37 | property subject to this chapter, if the holder has in its |
| 38 | records an address for the apparent owner which the holder's |
| 39 | records do not disclose to be inaccurate. |
| 40 | (a) When an owner's account becomes inactive, the holder |
| 41 | shall conduct at least one search for the apparent owner using |
| 42 | due diligence. For purposes of this section, an account is |
| 43 | inactive if 2 years have transpired after the last owner- |
| 44 | initiated account activity, if 2 years have transpired after the |
| 45 | expiration date on the instrument or contract, or if 2 years |
| 46 | have transpired since first-class mail has been returned as |
| 47 | undeliverable. |
| 48 | (b) Within 180 days after an account becomes inactive, the |
| 49 | holder shall conduct a search to locate the apparent owner of |
| 50 | the property. The holder may satisfy such requirement by |
| 51 | conducting one annual search for the owners of all accounts |
| 52 | which have become inactive during the prior year. |
| 53 | (c) Within 30 days after receiving updated address |
| 54 | information, the holder shall provide notice by telephone or |
| 55 | first-class mail to the current address notifying the apparent |
| 56 | owner that the holder is in possession of property which is |
| 57 | presumed unclaimed and may be remitted to the department. The |
| 58 | notice shall also provide the apparent owner with the address or |
| 59 | the telephone number of an office where the apparent owner may |
| 60 | claim the property or reestablish the inactive account. |
| 61 | (d) The account shall be presumed unclaimed if the holder |
| 62 | is not able to contact the apparent owner by telephone, the |
| 63 | first-class mail notice is returned to the holder as |
| 64 | undeliverable, or the apparent owner does not contact the holder |
| 65 | in response to the first-class mail notice. |
| 66 | (7) |
| 67 | (c) This section does not apply to credit balances, |
| 68 | overpayments, refunds, or outstanding checks owed by a health |
| 69 | care provider to a managed care payor with whom the health care |
| 70 | provider has a managed care contract, provided that the credit |
| 71 | balances, overpayments, refunds, or outstanding checks become |
| 72 | due and owing pursuant to the managed care contract. |
| 73 |
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| 74 | ================ T I T L E A M E N D M E N T ============= |
| 75 | Delete line 16 and insert: |
| 76 | providing an additional exception to the reporting of |
| 77 | unclaimed property; amending s. 717.118, F.S.; increasing |
| 78 | a threshold amount |