Bill > SB1113

This bill reduces the timeframe for the treasurer to submit an annual report on the Uniform Unclaimed Property Act from four months to three months after the end of a fiscal year. Specifically, the bill amends Tennessee Code Annotated, Section 66-29-165(a), changing the reporting deadline by deleting the phrase "four (4)" and replacing it with "three (3)". The Uniform Unclaimed Property Act governs how financial assets that have been inactive or abandoned are handled, requiring the treasurer to provide an annual report to key government officials including the governor, comptroller of the treasury, and speakers of the senate and house of representatives. The bill will take effect immediately upon becoming law, as stated in Section 2, with the rationale that the public welfare requires this change. The modification appears to be aimed at accelerating the reporting process and potentially improving governmental transparency and financial oversight.

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https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB1113&ga=114