Bill > S1325

This bill repeals, amends and adds to existing law regarding the Idaho Unclaimed Property Act. Key provisions include: - Renaming the "Uniform Unclaimed Property Act" to the "Idaho Unclaimed Property Act" - Updating definitions and adding new terms like "virtual currency," "stored-value card," and "game-related digital content" - Establishing when different types of property are presumed abandoned, including traveler's checks, money orders, retirement accounts, custodial accounts for minors, and stored-value cards - Requiring holders to notify apparent owners before reporting and delivering property to the state treasurer - Allowing the state treasurer to decline to take custody of property with little value or that would be unlawful to take - Providing for the disposition, sale, and recovery of abandoned property by the state treasurer - Authorizing the state treasurer to enter into agreements with other states to exchange information and coordinate efforts - Imposing penalties on holders who fail to timely report, pay or deliver property to the state treasurer - Establishing procedures for the state treasurer to examine records of holders and determine liability for unreported property - Protecting the confidentiality of personal information obtained by the state treasurer.

Government Affairs, Justice

State Affairs Committee (Senate)

https://legislature.idaho.gov/sessioninfo/2018/legislation/S1325/