Introduced
by
To revise the state <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, by allowing the state to sell information on this property to “locator” services that make money by finding apparent owners who pay them for having found the information.
Referred to the Committee on Tax Policy
Reported without amendment
With the recommendation that the substitute (H-4) be adopted and that the bill then pass.
Substitute offered
by
To adopt a version of the bill that imposes a $1,200 quadrennial registration fee on "locator" services; prohibits locators charging discovering property worth less than $2,000; and changes some other details.
The substitute passed by voice vote
Amendment offered
by
To impose a background check mandate on "locator" service owners, officers and certain staff.
The amendment failed by voice vote
Amendment offered
by
To impose a price cap on locator charges.
The amendment failed by voice vote
Passed in the House 75 to 33 (details)
To revise the state <a href="http://www.michiganvotes.org/2010-HB-6421">”escheats law”</a> that lets the state government take possession of unclaimed property, by allowing the state to sell information on this property to “locator” services that make money by finding apparent owners who pay them for having found the information. The bill would impose the equivalent of a $300 annual fee on these services in addition to the cost of any records they purchase.
Referred to the Committee on Finance
Reported without amendment
With the recommendation that the substitute (S-2) be adopted and that the bill then pass.
Passed in the Senate 37 to 0 (details)
To revise the state <a href="http://www.michiganvotes.org/2010-HB-6421">”escheats law”</a> that lets the state government take possession of unclaimed property, by allowing the state to sell information on this property to “locator” services that make money by finding apparent owners who pay them for having found the information. The bill would impose the equivalent of a $300 annual fee on these services in addition to the cost of any records they purchase.
Passed in the House 78 to 28 (details)
To concur with the Senate-passed version of the bill.
