SB 388:  Amends the Credit Union Act to extend to five years from three the dormancy reference so those accounts would be handled differently than others in the Uniform Unclaimed Property Act for active duty and active reserves military members.

Sponsor:  Sen. Klinefelt (D)                         

Vote Failed:  52-49

Why I voted NO:  The current length of time in statute is satisfactory.

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SB 389:  Amends the Credit Union Act to extend to five years from three the dormancy reference so those accounts would be handled differently than others in the Uniform Unclaimed Property Act for active duty and active reserves military members.

Sponsor:  Sen. Klinefelt (D)                         

Vote Failed:  52-48

Why I voted NO:  The current length of time in statute is satisfactory.

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HB 4416:  This bill amends multiple sections of the Estates and Protected Individuals Code, providing general amendments to the statute. Generally, the bill amends multiple sections to increase financial caps each year, pursuant to the annual cost-of-living adjustment using the United States Consumer Price Index. In addition, the bill makes provisions for a standby guardian to serve a legally incapacitated individual. Finally, the bill prohibits an attorney from receiving significant financial gifts through an estate-planning document that the attorney drafted for his or her client.

Sponsor:  Rep. Filler (R)                

Passage:  105-0 with Immediate Effect *Previous Bill

Why I voted YES: The financial caps in the EPIC are outdated and that are not subject to the annual cost-of-living adjustment using the United States Consumer Price Index. These provisions should be updated.