2013 House Bill 4703 / 2014 Public Act 423

Revise unclaimed property law details

Introduced in the House

May 7, 2013

Introduced by Rep. Jeff Farrington (R-30)

To establish an administrative appeals process for holders of unclaimed property who are deemed (under an administrative process) to have under-reported the amount of unclaimed or abandoned property that should be turned over to the state. Under current law. Under current law the only recourse is to challenge the determination in court.

Referred to the Committee on Tax Policy

June 19, 2013

Reported without amendment

Without amendment and with the recommendation that the bill pass.

Sept. 24, 2013

Passed in the House 107 to 0 (details)

Received in the Senate

Sept. 25, 2013

Referred to the Committee on Finance

Jan. 21, 2014

Reported without amendment

With the recommendation that the bill pass.

Dec. 11, 2014

Passed in the Senate 37 to 0 (details)

To establish an administrative appeals process for holders of unclaimed property who are deemed (under an administrative process) to have under-reported the amount of unclaimed or abandoned property that should be turned over to the state. Under current law. Under current law the only recourse is to challenge the determination in court.

Received in the House

Dec. 11, 2014

Dec. 16, 2014

Passed in the House 108 to 0 (details)

To concur with the Senate-passed version of the bill.

Signed by Gov. Rick Snyder

Dec. 27, 2014