A bill to relinquish unclaimed bonds back to the state of West Virginia generated a lot of discussion and was ultimately passed by the House during Wednesday’s floor session.
The House of Delegates convened for the 14th day of regular session at 11 a.m. on Jan. 23 to advance legislation. The House passed three bills and advanced all bills on first reading to appropriate committees for further consideration.
House Bill 2193 would revert savings bonds that have been completely unclaimed for five or more years back into the hands of the state.
The legislation, which was sponsored primarily by Delegate John Shott, R-Mercer, is an attempt to provide a purpose for thousands of unclaimed savings bonds currently in the possession of the state.
“Right now, half a million dollars is just sitting, without a purpose,” Shott said.
The legislation was modeled similarly after a piece of Kansas legislation, but delegates still had many questions for the House Judiciary Committee chairman. Many involved the applicability of the bill to savings bonds that are issued in the state electronically.
Shott assured the House that the only way an individual’s savings bonds would be escheated is if they had relinquished their bond physically to the State Treasury.
Other concerns involved the discretion that the State Treasurer would have if House Bill 2193 passes, and how willing they would be to escheat bonds out of the possession of West Virginia individuals.
Delegate Tom Fast, R-Fayette, defended the bill, arguing that there were many checks in place to assure that any bond reverted back into state funds is a truly unclaimed bond.
“It’s going to take a lot of procrastination on the part of the owner and a lot of diligence on the part of the Treasurer for an individual to lose a bond that they want,” Fast said.
After lengthy debate, House Bill 2193 passed the House.
Two other bills on third reading passed the House today, House Bill 2095 would take measures to further assess a public K-12 student’s college readiness in 11th and 12th grade. House Bill 2423 would prevent certain convicted sex offenders from taking on a supervisory position in an organization largely involving children.
State organizations such as 4-H camps, religious organizations, and many other extracurricular or curricular programs would no longer be permitted to staff those convicted of certain sex crimes if this bill passes.
During the floor session, a resolution to honor the life of the late West Virginia Delegate J. Franklin Deem of Vienna, WV passed the House as well. Mr. Deem’s family was ushered in by the delegation of Wood County, West Virginia to hear the reading that honored Mr. Deem, who passed at age 90 this past October.
House Bill 2005, the highly discussed legislation that would expand broadband for the state of West Virginia, is on tomorrow’s agenda for its third reading, with its amendments pending.
The House of Delegates will reconvene at 11 a.m. tomorrow, Jan. 24, in the House Chamber, for what’s sure to be an active discussion.
Committees Meeting Today After Floor Session:
-House Veterans Affairs and Homeland Security Committee will meet at 1 p.m. today, Jan 23, in 432-M.
-House Finance Committee will continue their budget hearings and legislation consideration from this morning. They will meet at 2 p.m. and 4 p.m. today, Jan 23, in 460-M.
– House Judiciary Committee will continue their 9am committee meeting at 2p.m. today, Jan 23, in 410-M.
-House Education Committee will continue their 9am committee meeting at 2p.m. today, Jan 23, in 432-M.
Committees Meeting Tomorrow Before Floor Session:
-House Committee on Small Business, Entrepreneurship, and Economic Development will meet at 9 a.m. tomorrow, Jan. 24, in 215-E.
-House Committee on Banking and Insurance will meet at 10 a.m. tomorrow, Jan. 24, in 215-E.
