HB 2146 -- State Treasurer

Co-Sponsors:  Campbell, Smith

This bill abolishes the fund known as "Escheats" (where property
is given to the state when no heirs to a decedent can be found)
and transfers the property to the Unclaimed Property Fund, which
is administered by the State Treasurer.  The bill repeals most of
the law governing the escheats process.

The bill also requires the State Treasurer to deposit all
interest received from bonds purchased by the State Board of Fund
Commissioners into the Abandoned Fund Account.  The board will
determine the use and disposition of proceeds from all the bonds
purchased.

The bill also requires the State Treasurer to annually transfer
from the Abandoned Fund Account to the Public Schools Fund an
amount equal to 5% of the money transferred from the General
Revenue Fund to the Abandoned Fund Account.

Missouri House of Representatives
Last Updated October 11, 2002 at 9:03 am