Bill: HB 2964, 85(R) - 2017
Committee
House Investments & Financial Services
2nd Chamber Committee
Senate Business & Commerce
Vote Recommendation
| Vote Recommendation |
Economic Freedom |
Property Rights |
Personal Responsibility |
Limited Government |
Individual Liberty |
| 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.
