New York State Assembly

 
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A10219 Summary:

A10219 Actions:

A10219 Committee Votes:

Committee:WAYS AND MEANS   Chair:Weinstein      
DATE:05/20/2024AYE/NAY:34/0  Action: Favorable refer to committee Rules        
Weinstein
Aye
Ra
Aye
Glick
Aye
Fitzpatrick
Excused
Pretlow
Aye
Hawley
Aye
Colton
Aye
Blankenbush
Aye
Cook
Aye
Norris
Aye
Aubry
Aye
Brabenec
Aye
Benedetto
Aye
Palmesano
Aye
Weprin
Aye
Walsh
Aye
Ramos
Aye
DeStefano
Aye
Braunstein
Aye
Manktelow
Aye
McDonald
Aye
Smullen
Aye
Rozic
Aye
Dinowitz
Aye
Magnarelli
Aye
Zebrowski
Aye
Bronson
Aye
Dilan
Aye
Seawright
Aye
Hyndman
Aye
Walker
Aye
Bichotte Hermel
Aye
Simon
Aye
Cruz
Aye
Fahy
Aye

Committee:RULES   Chair:Pretlow      
DATE:05/22/2024AYE/NAY:28/0  Action: Favorable         
Heastie
Excused
Barclay
Aye
Weinstein
Aye
Hawley
Aye
Pretlow
Aye
Giglio
Aye
Cook
Aye
Blankenbush
Aye
Glick
Aye
Norris
Aye
Aubry
Aye
Ra
Aye
Dinowitz
Aye
Brabenec
Aye
Colton
Aye
Palmesano
Aye
Magnarelli
Aye
Reilly
Aye
Paulin
Aye
Peoples-Stokes
Aye
Benedetto
Aye
Lavine
Aye
Lupardo
Aye
Zebrowski
Aye
Thiele
Excused
Braunstein
Aye
Dickens
Excused
Davila
Aye
Hyndman
Aye
Rozic
Aye
Bronson
Aye

A10219 Floor Votes:

A10219 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          10219
 
                   IN ASSEMBLY
 
                                      May 14, 2024
                                       ___________
 
        Introduced  by  COMMITTEE  ON RULES -- (at request of M. of A. McDonald,
          Weinstein) -- (at request of the State Comptroller) -- read  once  and
          referred to the Committee on Ways and Means
 
        AN  ACT  to  amend  the abandoned property law, in relation to expedited
          payments of abandoned property under a certain monetary threshold

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Section 1407 of the abandoned property law, as amended by
     2  chapter 166 of the laws of 1991, is amended to read as follows:
     3    § 1407. Payment by comptroller.  1. Any claim which is allowed by  the
     4  comptroller or ordered to be paid by [him] the comptroller by a court of
     5  competent  jurisdiction  pursuant  to the provisions of section fourteen
     6  hundred six of this article, together with such costs and  disbursements
     7  as  may be allowed by the court, shall be paid, together with any inter-
     8  est accrued on such claim pursuant to section fourteen hundred  five  of
     9  this  article,  out of the abandoned property fund, except for any claim
    10  relating to a security pursuant to subdivision two-a of section fourteen
    11  hundred three of this article, which shall be paid  in  accordance  with
    12  procedures established by the comptroller, and the comptroller shall not
    13  be liable in any action for any claim including interest if any, paid by
    14  [him] the comptroller in good faith.
    15    2.  If  during  any  session of the legislature there are insufficient
    16  moneys in the abandoned property fund to pay all claims,  including  any
    17  interest  accrued  thereon,  which  have been allowed by the state comp-
    18  troller or ordered to be paid by [him] the state comptroller by a  court
    19  of competent jurisdiction, the state comptroller shall so certify to the
    20  legislature,  which shall appropriate from the general fund to the aban-
    21  doned property fund an amount sufficient to pay such claims.
    22    3. The state comptroller is hereby authorized to  establish  an  aban-
    23  doned  property expedited payment program. Under such program, the comp-
    24  troller may:
    25    (a) notwithstanding whether a claim is filed pursuant to this chapter,
    26  return any property paid or delivered to  the  state  comptroller  under
    27  this  chapter,  or  proceeds from the sale thereof, to an apparent owner
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14504-02-4
        A. 10219                            2
 
     1  after verification, in a manner and form prescribed by the  comptroller,
     2  that the apparent owner is the rightful owner of the property; and
     3    (b)  promulgate  rules  and  regulations  necessary  to administer the
     4  program, including establishing the threshold value of  property  to  be
     5  paid or delivered under the program, provided however:
     6    (i)  for the calendar year beginning January first, two thousand twen-
     7  ty-five, the value of property may not be more than  two  hundred  fifty
     8  dollars; and
     9    (ii) for the calendar year beginning January first, two thousand twen-
    10  ty-six  and  thereafter,  the  value of property to be paid or delivered
    11  under the program shall be determined by the comptroller.
    12    § 2. This act shall take effect immediately.