2013 Senate Bill 642 / Public Act 209

Revise unclaimed property law (“escheats”) detail

Introduced in the Senate

Oct. 23, 2013

Introduced by Sen. Goeff Hansen (R-34)

To revise details of the disposition of funds taken under an <a href="http://www.michiganvotes.org/2010-HB-6421">”escheats law”</a> that lets the state government take possession of unclaimed property if the owner does not claim it within three years. Specifically, the bill amends references in this law to a “senior care respite fund” to reflect the <a href="http://www.michiganvotes.org/2013-SB-63"> 2013 law</a> authorizing conversion of Blue Cross to non-profit "regular" insurance company.

Referred to the Committee on Finance

Oct. 24, 2013

Referred to the Committee on Insurance

Nov. 6, 2013

Reported without amendment

With the recommendation that the bill pass.

Dec. 4, 2013

Passed in the Senate 35 to 0 (details)

To revise details of the disposition of funds taken under an <A href="http://www.michiganvotes.org/2010-HB-6421">”escheats law”</A> that lets the state government take possession of unclaimed property if the owner does not claim it within three years. Specifically, the bill amends references in this law to a “senior care respite fund” to reflect the <A href="http://www.michiganvotes.org/2013-SB-63">2013 law</A> authorizing conversion of Blue Cross to non-profit "regular" insurance company.

Received in the House

Dec. 4, 2013

Referred to the Committee on Tax Policy

Dec. 10, 2013

Reported without amendment

Without amendment and with the recommendation that the bill pass.

Dec. 11, 2013

Passed in the House 108 to 1 (details)

To revise details of the disposition of funds taken under an <A href="http://www.michiganvotes.org/2010-HB-6421">”escheats law”</A> that lets the state government take possession of unclaimed property if the owner does not claim it within three years. Specifically, the bill amends references in this law to a “senior care respite fund” to reflect the <A href="http://www.michiganvotes.org/2013-SB-63">2013 law</A> authorizing conversion of Blue Cross to non-profit "regular" insurance company.

Signed by Gov. Rick Snyder

Dec. 21, 2013