Bill
HB 2650
85(R) - 2017
House Business & Industry
House Business & Industry
Property Rights
Vote Recommendation
Neutral
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Neutral
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Neutral
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Neutral
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Neutral
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Neutral
Author(s)
Jason Villalba
Bill Caption
Relating to the treatment of membership initiation payments as abandoned personal property.
Fiscal Notes
The bill could result in an undetermined loss to the General Revenue Fund depending on the number and value of membership initiation deposits which would no longer be presumed abandoned and remitted to the state due to the provisions of the bill.
Bill Analysis
HB 2650 would not presume a membership initiation payment as abandoned if the member has not forfeited the deposit, or the deposit is included as discharge of indebtedness income on the federal income tax return of the business that sold the membership.
Vote Recommendation Notes
HB 2650 does not appear to have a connection to our liberty principles, therefore we remain neutral.
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