S 994: Directs the Office of the New York State Comptroller to conduct a study on the feasibility of automatically returning unclaimed funds held by such office to the rightful owners of such funds; requires a report of its findings and legislative recommendations.

  
  STATE OF NEW YORK ________________________________________________________________________ 994 2025-2026 Regular Sessions  IN SENATE (Prefiled) January 8, 2025 ___________ Introduced by Sen. ROLISON -- read twice and ordered printed, and when printed to be committed to the Committee on Finance AN ACT to direct the Office of the New York State Comptroller to conduct a study on the feasibility of automatically returning unclaimed funds held by such office to the rightful owners of such funds and to deliv- er a report of its findings The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. (a) The Office of the New York State Comptroller shall 2 conduct a study on the feasibility of automatically returning unclaimed 3 funds held by such office to the rightful owners of such funds imme- 4 diately upon receipt of the funds by the comptroller's office and with- 5 out having the rightful owner of the funds apply for their return. The 6 study shall include the potential automatic return of unclaimed funds 7 currently held by the comptroller's office and such funds received by 8 the office in the future. 9 (b) No later than January 1, 2026, the Office of the New York State 10 Comptroller shall deliver a report of its findings to the Governor, the 11 Temporary President of the Senate, the minority leader of the Senate, 12 the Speaker of the Assembly and the minority leader of the Assembly. 13 Such report shall include the results of the study and recommendations 14 for any legislative action that would be required to make unclaimed 15 funds automatically returned to the rightful owner of the funds. 16 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02818-01-5