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The Lake News Online
  • Rocky Miller's unclaimed property bill signed into law

  • First-term State Rep. Rocky Miller (R-124) continues to have an impact on the state as another of his bills ― this one relating to unclaimed property ― has been signed by Gov. Jay Nixon.
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    • Fraud Alert

      State Treasurer Clint Zweifel never charges a fee or requires personal financial information to find or return Unclaimed Property. His office only send out emails in the following situations:

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      Fraud Alert

      State Treasurer Clint Zweifel never charges a fee or requires personal financial information to find or return Unclaimed Property. His office only send out emails in the following situations:



      •In response to constituent questions



      •While working with an individual who has already begun the claim process



      •To inform individuals who have previously filed a claim that they have new Unclaimed Property



      •To inform individuals who have registered for email notifications of recently added Unclaimed Property



      Any email or message residents receive requesting private information or directing them to a third party may be a scam. Never send any personal information in response to an unsolicited email. Anyone suspicious of an email or message is asked to contact Zweifel’s Unclaimed Property team at ucp@treasurer.mo.gov.

  • First-term State Rep. Rocky Miller (R-124) continues to have an impact on the state as another of his bills ― this one relating to unclaimed property ― has been signed by Gov. Jay Nixon.
    House Bill 1075, among other things, reduces from five years to three years the length of time certain unclaimed property can be held before it is considered abandoned and thus becomes property of the state.
    “This bill alters what can be considered abandoned property during an audit of a business by the state,” he explained. “It also puts in place an appeal process for these audits similar to a tax appeal. It also changes the time period for unclaimed property within these audits down from five to three years.”
    Miller worked with the Missouri Chamber of Commerce and the Missouri Treasure's office to write this legislation.
    “It should result in a better business environment for Missouri,” he said. 
    The bill also specifies that any outstanding check, draft, credit balance, customer’s overpayment or unidentified remittance issued to a business entity or association as part of a commercial transaction cannot be presumed abandoned if the holder and the business have an ongoing business relationship.
    "I am honored to have another bill signed into law this year,” Miller said. “I was fortunate to have a utilities bill signed last year and the bill language from several other pieces of legislation I filed this year has also been recently signed into law."
    Miller said in its latest grading of states, the Council of State Taxation gave Missouri a low grade when it comes to taxation on businesses.
    State Treasurer Clint Zweifel’s office is holding almost $810 million in unclaimed assets in more than 4.7 million owner accounts. The average return is $300 and 1 in 10 Missourians has unclaimed property.
    Other provisions include:
    •A United States Savings Bond in the possession of the state treasurer or with its owner whose last known address was in Missouri would be considered abandoned after it has been unclaimed for three years after its maturity date. After 180 days after the bonds become the property of the state, the state treasurer must bring a court action to confirm that the bonds are to revert to the state.
    •Beginning Jan. 1, 2015, the abandonment period for a payroll check is reduced from five to three years.
    •Business credits between two business entities are not subject to the Unclaimed Property Act.
    •The state treasurer cannot enforce the provisions of the Unclaimed Property Act to lost and unclaimed property for more than three years after the holder of the property has filed a report with the state treasurer or has given notice of a dispute to the treasurer
    Page 2 of 2 - To see the full language of the bill, go to the House webpage at www.house.mo.gov.

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