Bill Title: Relating To State Library System.
RELATING TO STATE LIBRARY SYSTEM.
"(a) There is established in the state treasury a libraries special fund into which shall be deposited all moneys collected pursuant to section 312-3.5, and all moneys designated to be paid to this fund pursuant to [section] sections 235‑102.5(c)[.] and 523A-19(c)."
provided that for funds totaling less than $100 that were deposited into the unclaimed property trust fund on or prior to June 30, 2014, [the] a ten-year time limitation on claiming the funds shall apply and commence on [July 1, 2014.] the date on which the funds were deposited into the unclaimed property trust fund; provided further that for funds totaling less than $ that were deposited into the unclaimed property trust fund after June 30, 2014, and on or prior to June 30, 2019, a ten-year time limitation on claiming the funds shall apply and commence on the date the funds were deposited into the unclaimed property trust fund; provided further that for funds totaling more than $ and less than $ that were deposited into the unclaimed property trust fund on or prior to June 30, 2019, a five-year time limitation on claiming the funds shall apply and commence on July 1, 2019. Unclaimed funds of $ or less subject to this subsection, upon the expiration of the [ten-year] time limitation, shall escheat to the State and be transferred to the libraries special fund. Unclaimed funds of more than $ but less than $ subject to this subsection, upon expiration of the time limitation, shall escheat to the State and be transferred to the general fund."
SECTION 4. This Act shall take effect on July 1, 2051.