Join now!   |   Subscribe   |   Your Cart   |   Sign In
Unclaimed Property Focus
Blog Home All Blogs
Search all posts for:   

 

View all (344) posts »
 

UPPO Advocacy Update: October 2019

Posted By Administration, Thursday, October 24, 2019

To help members remain aware of UPPO’s advocacy activities, the Unclaimed Property Focus blog presents the recurring Advocacy Update when legislatures are active or significant advocacy activity has occurred. Following are recent activities and trends from UPPO’s Government Relations and Advocacy Committee (GRAC).

 

Texas H.B. 3598 Update

Earlier this year, the Texas legislature passed H.B. 3598, which the governor subsequently signed into law. Among other things, the legislation outlines requirements for combined reporting of unclaimed property for affiliated companies. The new law raises many questions for holders and service providers.

 

On Oct. 15, 2019, UPPO sent a letter to Texas Director of Unclaimed Property Joani Bishop and Assistant Director of Unclaimed Property Bryant Clayton, requesting clarification from the state regarding issues related to controlling interest, third-party vendors and combined reporting implementation. 

 

UPPO received a prompt response. Texas unclaimed property officials are currently drafting guidance regarding the new law and welcomed a call to discuss our questions. We look forward to our discussion, scheduled for Oct. 30, and will provide additional member updates when more information is available.     

 

As more and more legislatures and regulatory agencies take on issues affecting unclaimed property compliance, advocacy has become an increasingly important role for UPPO.

Please take a few minutes to complete our 
Government Relations and Advocacy Survey to help us build our grassroots network. Responses will give us the ability to mobilize UPPO members when we are faced with legislative and regulatory challenges and opportunities.

 

 

Tags:  consolidated reporting  Texas 

Share |
Permalink | Comments (0)
 
Membership Software Powered by YourMembership  ::  Legal