Florida Senate - 2005                      COMMITTEE AMENDMENT
    Bill No. CS for SB 2494
                        Barcode 701216
                            CHAMBER ACTION
              Senate                               House
                                   .                    
                                   .                    
 1                                 .                    
                                   .                    
 2                                 .                    
                                   .                    
 3                                 .                    
                                   .                    
 4  ______________________________________________________________
 5  
 6  
 7  
 8  
 9  
10  ______________________________________________________________
11  The Committee on Judiciary (Clary) recommended the following
12  amendment:
13  
14         Senate Amendment (with title amendment) 
15         On page 6, line 6, through
16            page 8, line 5, delete those lines
17  
18  and insert:  
19         Section 3.  Subsections (3) and (4) and paragraph (c)
20  of subsection (7) of section 717.117, Florida Statutes, are
21  amended to read:
22         717.117  Report of unclaimed property.--
23         (3)  The report must be filed before May 1 of each
24  year. The Such report shall apply to the preceding calendar
25  year. The department may impose and collect a penalty of $10
26  per day up to a maximum of $500 for the failure to timely
27  report or the failure to include in a report information
28  required by this chapter. The penalty shall be remitted to the
29  department within 30 days after the date of the notification
30  to the holder that the penalty is due and owing. As necessary
31  for proper administration of this chapter, the department may
                                  1
    5:30 PM   04/25/05                           s2494c1c-ju04-k9g

Florida Senate - 2005 COMMITTEE AMENDMENT Bill No. CS for SB 2494 Barcode 701216 1 waive any penalty due with appropriate justification. On 2 written request by any person required to file a report and 3 upon a showing of good cause, the department may postpone the 4 reporting date. The department must provide information 5 contained in a report filed with the department to any person 6 requesting a copy of the report or information contained in a 7 report, to the extent the information requested is not 8 confidential, within 45 90 days after the report has been 9 processed and added to the unclaimed property database 10 subsequent to a determination that the report is accurate and 11 that the reported property is the same as the remitted 12 property. 13 (4) Holders of inactive accounts having a value of $50 14 or more shall use due diligence to locate apparent owners. Not 15 more than 120 days and not less than 60 days prior to filing 16 the report required by this section, the holder in possession 17 of property presumed unclaimed and subject to custody as 18 unclaimed property under this chapter shall send written 19 notice to the apparent owner at the apparent owner's last 20 known address informing the apparent owner that the holder is 21 in possession of property subject to this chapter, if the 22 holder has in its records an address for the apparent owner 23 which the holder's records do not disclose to be inaccurate. 24 (a) When an owner's account becomes inactive, the 25 holder shall conduct at least one search for the apparent 26 owner using due diligence. For purposes of this section, an 27 account is inactive if 2 years have transpired after the last 28 owner-initiated account activity, if 2 years have transpired 29 after the expiration date on the instrument or contract, or if 30 2 years have transpired since first-class mail has been 31 returned as undeliverable. 2 5:30 PM 04/25/05 s2494c1c-ju04-k9g
Florida Senate - 2005 COMMITTEE AMENDMENT Bill No. CS for SB 2494 Barcode 701216 1 (b) Within 180 days after an account becomes inactive, 2 the holder shall conduct a search to locate the apparent owner 3 of the property. The holder may satisfy such requirement by 4 conducting one annual search for the owners of all accounts 5 which have become inactive during the prior year. 6 (c) Within 30 days after receiving updated address 7 information, the holder shall provide notice by telephone or 8 first-class mail to the current address notifying the apparent 9 owner that the holder is in possession of property which is 10 presumed unclaimed and may be remitted to the department. The 11 notice shall also provide the apparent owner with the address 12 or the telephone number of an office where the apparent owner 13 may claim the property or reestablish the inactive account. 14 (d) The account shall be presumed unclaimed if the 15 holder is not able to contact the apparent owner by telephone, 16 the first-class mail notice is returned to the holder as 17 undeliverable, or the apparent owner does not contact the 18 holder in response to the first-class mail notice. 19 (7) 20 (c) This section does not apply to credit balances, 21 overpayments, refunds, or outstanding checks owed by a health 22 care provider to a managed care payor with whom the health 23 care provider has a managed care contract, except that the 24 credit balances, overpayments, refunds, or outstanding checks 25 become due and owing pursuant to the managed care contract. 26 27 28 ================ T I T L E A M E N D M E N T =============== 29 And the title is amended as follows: 30 On page 1, line 15, delete that line 31 3 5:30 PM 04/25/05 s2494c1c-ju04-k9g
Florida Senate - 2005 COMMITTEE AMENDMENT Bill No. CS for SB 2494 Barcode 701216 1 and insert: 2 amending time and notice requirements; 3 providing an additional exception to the 4 reporting of unclaimed property; amending 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 4 5:30 PM 04/25/05 s2494c1c-ju04-k9g