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Assembly Bill A9387

2023-2024 Legislative Session

Directs the Office of the New York State Comptroller to conduct a study on the feasibility of automatically returning unclaimed funds held by such office to the rightful owners of such funds

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Archive: Last Bill Status - In Assembly Committee

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2023-A9387 (ACTIVE) - Details

See Senate Version of this Bill:
S8387
Current Committee:
Assembly Governmental Operations
Law Section:
Comptroller
Versions Introduced in 2025-2026 Legislative Session:
S994

2023-A9387 (ACTIVE) - Summary

Directs the Office of the New York State Comptroller to conduct a study on the feasibility of automatically returning unclaimed funds held by such office to the rightful owners of such funds; requires a report of its findings and legislative recommendations.

2023-A9387 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9387
 
                           I N  A S S E M B L Y
 
                               March 6, 2024
                                ___________
 
 Introduced by M. of A. THIELE -- read once and referred to the Committee
   on Governmental Operations
 
 AN ACT to direct the Office of the New York State Comptroller to conduct
   a  study on the feasibility of automatically returning unclaimed funds
   held by such office to the rightful owners of such funds and to deliv-
   er a report of its findings

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  (a)  The  Office  of the New York State Comptroller shall
 conduct a study on the feasibility of automatically returning  unclaimed
 funds  held  by  such  office to the rightful owners of such funds imme-
 diately upon receipt of the funds by the comptroller's office and  with-
 out  having the rightful owner of the funds apply for their return.  The
 study shall include the potential automatic return  of  unclaimed  funds
 currently  held  by  the comptroller's office and such funds received by
 the office in the future.
   (b) No later than January 1, 2025, the Office of the  New  York  State
 Comptroller  shall deliver a report of its findings to the Governor, the
 Temporary President of the Senate, the minority leader  of  the  Senate,
 the  Speaker  of  the  Assembly and the minority leader of the Assembly.
 Such report shall include the results of the study  and  recommendations
 for  any  legislative  action  that  would be required to make unclaimed
 funds automatically returned to the rightful owner of the funds.
   ยง 2. This act shall take effect immediately.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD13036-01-3

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