THE SENATE	S.B. NO.	978
THIRTIETH LEGISLATURE, 2019		S.D. 1
STATE OF HAWAII		H.D. 1

A BILL FOR AN ACT

RELATING TO STATE LIBRARY SYSTEM.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. Section 312-3.6, Hawaii Revised Statutes, is amended by amending subsection (a) to read as follows:

"(a) There is established in the state treasury a libraries special fund into which shall be deposited all moneys collected pursuant to section 312-3.5, and all moneys designated to be paid to this fund pursuant to [section] sections 235‑102.5(c)[.] and 523A-19(c)."

SECTION 2. Section 523A-19, Hawaii Revised Statutes, is amended by amending subsection (c) to read as follows:

"(c) [Beginning on July 1, 2014, any] Any claim made under this part for funds in the unclaimed property trust fund shall be void if the claim is:

(1) For funds totaling less than [$100;] $250; and

(2) Filed more than [ten] five years after the date that the full amount of the claim was deposited into the unclaimed property trust fund;

provided that for funds totaling less than $100 that were deposited into the unclaimed property trust fund on or prior to June 30, 2014, [the] a ten-year time limitation on claiming the funds shall apply and commence on [July 1, 2014.] the date on which the funds were deposited into the unclaimed property trust fund; provided further that for funds totaling less than $100 that were deposited into the unclaimed property trust fund after June 30, 2014, and on or prior to June 30, 2019, a ten-year time limitation on claiming the funds shall apply and commence on the date the funds were deposited into the unclaimed property trust fund; provided further that for funds totaling more than $99.99 and less than $250 that were deposited into the unclaimed property trust fund on or prior to June 30, 2019, a five-year time limitation on claiming the funds shall apply and commence on July 1, 2019. Unclaimed funds of $10 or less subject to this subsection, upon the expiration of the [ten-year] time limitation, shall escheat to the State and be transferred to the libraries special fund. Unclaimed funds of more than $10 but less than $250 subject to this subsection, upon expiration of the time limitation, shall escheat to the State and be transferred to the general fund."

SECTION 3. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 4. This Act shall take effect on July 1, 2051.

Report Title:

Unclaimed Property; Public Library System; Libraries Special Fund

Description:

Specifies that unclaimed funds of $10 or less in the unclaimed property trust fund, upon the expiration of a 5-year time limitation, shall escheat to the State and be transferred to the libraries special fund. Specifies that unclaimed funds of more than $10 but less than $250 in the unclaimed property trust fund, upon expiration of the time limitation, shall escheat to the State and be transferred to the general fund. (SB978 HD1)

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.