Relates to the publication by the state of the receipt of unclaimed funds.
Summary
Bill S03774 aims to amend the abandoned property law and the state technology law in New York to enhance the accessibility of information regarding unclaimed funds. It mandates that the state comptroller publish a statement of abandoned property held by the state in a newspaper twice a year, specifically in September and March. This publication will include a notice informing the public about the availability of large print copies of the unclaimed funds list, which can be requested through mail or phone. The bill also requires the state technology law to include provisions for consulting with the commission on the blind and visually handicapped to develop accessibility standards for typeface and font size.
Impact
If enacted, this bill will improve the accessibility of information regarding unclaimed funds for visually impaired individuals, ensuring that they have equal access to important financial information. It will modify existing laws to require the state comptroller to take specific actions to enhance public awareness and accessibility of unclaimed funds, thereby potentially increasing the number of individuals who can reclaim their unclaimed property. This change may also necessitate updates to the state's publication practices and accessibility standards.
Sentiment
The general sentiment surrounding Bill S03774 appears to be positive, as it addresses the needs of visually impaired individuals and promotes inclusivity in accessing financial information. There have been no recorded votes or significant opposition noted in the committee discussions, indicating a potential consensus on the importance of the bill's objectives.
Contention
While there are no notable points of contention reported in the discussions or voting history, potential concerns could arise regarding the implementation of accessibility standards and the costs associated with producing large print copies of the unclaimed funds list. Stakeholders may have varying opinions on the practicality and funding of these requirements, but no specific opposition has been documented.
Provides that the department of taxation and finance shall be permitted to share with the office of the state comptroller a person's address, based on such person's most recently filed tax return, for the purpose of returning unclaimed funds to such person.
To Amend The Law Concerning Unclaimed Property Funds; To Amend The Law Concerning The Deposit And Investment Of Unclaimed Property Funds; To Create The Unclaimed Property Interest Trust Fund; And To Declare An Emergency.
Provides that the department of taxation and finance shall be permitted to share with the office of the state comptroller a person's address, based on such person's most recently filed tax return, for the purpose of returning unclaimed funds to such person.