California 2017-2018 Regular Session Status: In Committee

AB 2773 — Unclaimed property voluntary disclosure program.

Last action — From committee: Without further action pursuant to Joint Rule 62(a).

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Assembly
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2017-2018 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Under existing law, property held by a person that belongs to another and that is unclaimed for more than specified periods escheats to the state. Existing law requires persons holding unclaimed property to report and deliver it to the Controller within a prescribed time period, and imposes interest payments and penalties for a failure to do so. Existing law also provides that any person who paid or delivered unclaimed property to the Controller on or before December 31, 2002, in accordance with specified requirements, is not subject to statutory interest payments. This bill would require the Controller to create a program for the voluntary disclosure of unclaimed property consistent with specified requirements. The bill would require the Controller to waive interest and penalty charges for holders who are accepted into the program, complete the voluntary disclosures in good faith, and act consistent with program requirements. The program would repeal on January 1, 2024.

Bill Text

Action History

  1. From committee: Without further action pursuant to Joint Rule 62(a).

  2. In committee: Set, final hearing. Hearing canceled at the request of author.

  3. In committee: Set, second hearing. Hearing canceled at the request of author.

  4. In committee: Set, first hearing. Hearing canceled at the request of author.

  5. Re-referred to Com. on JUD.

  6. From committee chair, with author's amendments: Amend, and re-refer to Com. on JUD. Read second time and amended.

  7. Referred to Com. on JUD.

  8. From printer. May be heard in committee March 19.

  9. Read first time. To print.

Sponsors

  • Acosta · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 121 not signed on

Sponsors (1)

  • Acosta

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation finance
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Frequently asked questions

What does AB 2773 do?
Under existing law, property held by a person that belongs to another and that is unclaimed for more than specified periods escheats to the state. Existing law requires persons holding unclaimed property to report and deliver it to the Controller within a prescribed time period, and imposes interest payments and penalties for a failure to do so. Existing law also provides that any person who paid or delivered unclaimed property to the Controller on or before December 31, 2002, in accordance with specified requirements, is not subject to statutory interest payments. This bill would require the Controller to create a program for the voluntary disclosure of unclaimed property consistent with specified requirements. The bill would require the Controller to waive interest and penalty charges for holders who are accepted into the program, complete the voluntary disclosures in good faith, and act consistent with program requirements. The program would repeal on January 1, 2024.
Who sponsors AB 2773?
AB 2773 is sponsored by Acosta.
What is the current status of AB 2773?
This bill died with 2017-2018 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track AB 2773?
Track AB 2773 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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