Bill

HB 2964

85(R) - 2017
House Investments & Financial Services
Senate Business & Commerce
House Investments & Financial Services
Senate Business & Commerce
Finance
Property Rights

Vote Recommendation

Neutral
  • Neutral
  • Neutral
  • Neutral
  • Neutral
  • Neutral

Author(s)

Morgan Meyer

Sponsor(s)

Kelly Hancock

Bill Caption

Relating to abandonment of shares of a mutual fund.

Fiscal Notes

The bill would result in an undetermined loss to the General Revenue Fund depending on the value of shares in a mutual fund for which the presumption of abandonment would be deferred due to reinvestment in the mutual fund.

Bill Analysis

HB 2964 would establish the beginning date of the three-year period, before presumed abandonment, to be on: the last investment in the mutual fund made by or on behalf of the owner; or the last payment to the owner or reinvestment by or on behalf of the owner of a dividend from the mutual fund. 

Vote Recommendation Notes

This is mainly a procedural bill to clear up an ambiguous provision of statute. HB 2964 does not appear to have a connection to our liberty principles, therefore we remain neutral.