Senate Bill sb1848c1

    Florida Senate - 2007                           CS for SB 1848

    By the Committee on Banking and Insurance





    597-2041-07

  1                      A bill to be entitled

  2         An act relating to a review under the Open

  3         Government Sunset Review Act; amending s.

  4         717.117, F.S.; revising the public-records

  5         exemption for information held by the

  6         Department of Financial Services concerning

  7         unclaimed property; defining the term "property

  8         identifiers"; providing an exemption from

  9         public-records requirements for property

10         identifiers held by the department in reports

11         concerning unclaimed property; authorizing the

12         release of certain information to persons

13         registered with the department for the purpose

14         of locating owners of abandoned or unclaimed

15         property; providing for future legislative

16         review and repeal of the exemption under the

17         Open Government Sunset Review Act; providing a

18         statement of public necessity; providing an

19         effective date.

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21  Be It Enacted by the Legislature of the State of Florida:

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23         Section 1.  Subsection (8) of section 717.117, Florida

24  Statutes, is amended to read:

25         717.117  Report of unclaimed property.--

26         (8)(a)  As used in this subsection, the term "property

27  identifier" means the descriptor used by the holder to

28  identify the unclaimed property.

29         (b)  Social security numbers and property identifiers

30  financial account numbers contained in reports required under

31  this section, held by the department, are confidential and

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CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 2007                           CS for SB 1848
    597-2041-07




 1  exempt from s. 119.07(1) and s. 24(a), Art. I of the State

 2  Constitution. Notwithstanding this exemption,

 3         (c)  Social security numbers shall be released, for the

 4  limited purpose of locating owners of abandoned or unclaimed

 5  property, to a person registered with the department under

 6  this chapter who is an attorney, Florida-certified public

 7  accountant, private investigator who is duly licensed in this

 8  state, or a private investigative agency licensed under

 9  chapter 493 and registered with the department under this

10  chapter.

11         (d)  This exemption applies to social security numbers

12  and property identifiers financial account numbers held by the

13  department before, on, or after the effective date of this

14  exemption.

15         (e)  This subsection is subject to the Open Government

16  Sunset Review Act of 1995 in accordance with s. 119.15, and

17  shall stand repealed October 2, 2012 2007, unless reviewed and

18  saved from repeal through reenactment by the Legislature.

19         Section 2.  The Legislature finds that it is a public

20  necessity that property identifiers contained in reports of

21  unclaimed property be made confidential and exempt from

22  public-records requirements. Property identifiers, which are

23  descriptors used by a holder to identify unclaimed property,

24  could be used to obtain fraudulently unclaimed funds or

25  property. Protection of property identifiers is a public

26  necessity in order to prevent the fraudulent use of such

27  information for purposes of creating falsified or forged

28  documents that appear to demonstrate entitlement to unclaimed

29  property. Such use defrauds the rightful property owner or the

30  State School Fund. Furthermore, the release of property

31  identifiers contained in reports of unclaimed property hinders

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    Florida Senate - 2007                           CS for SB 1848
    597-2041-07




 1  the effective and efficient administration of the unclaimed

 2  property program.

 3         Section 3.  This act shall take effect October 1, 2007.

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 5          STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
                       COMMITTEE SUBSTITUTE FOR
 6                         Senate Bill 1848

 7                                 

 8  Provides a public records exemption for property identifiers,
    defined as the descriptor used by the holder of unclaimed
 9  property to identify the unclaimed property.

10  Provides a statement of public necessity.

11  Provides for future legislative review and repeal of the
    exemption under the Open Government Sunset Review Act.
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CODING: Words stricken are deletions; words underlined are additions.