AN ACT to amend the statutes governing the escheat fund to protect the privacy of information collected for the process of paying claims; to eliminate the fee paid by holders for filing an extension request; to reduce the amount of paperwork required by holders; and to improve the efficiency and effectiveness of processing holder reports.

The General Assembly of North Carolina enacts:

SECTION 1.  G.S. 116B‑6 reads as rewritten:
"§ 116B‑6.  Administration of Escheat Fund; Escheat Account.
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(i)	Records. – The State Treasurer must maintain the records it receives from holders who report unclaimed property in accordance with G.S. 116B‑60. To protect the privacy of the owners of unclaimed property, the information that may be subject to public inspection will be limited to the information the State Treasurer is required to annually submit to the clerks of superior court in accordance with G.S. 116B‑62.
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SECTION 2.  G.S. 116B‑52(11) reads as rewritten:
"§ 116B‑52.  Definitions.
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(11)	"Property" means (i) money or tangible personal property held by a holder that is physically located in a safe deposit box or other safekeeping depository held by a financial institution within this State or (ii) a fixed and certain interest in intangible property that is held, issued, or owed in the course of a holder's business, or by a government, governmental subdivision, agency, or instrumentality, and all income or increments therefrom. The term includes property that is referred to as or evidenced by:
a.	Money, a check, draft, deposit, interest, or dividend;
b.	Credit balance, customer's overpayment, gift certificate, security deposit, refund, credit memorandum, unpaid wage, unused ticket, mineral proceeds, or unidentified remittance;
c.	Stock or other evidence of ownership of an interest in a business association;
d.	A bond, debenture, note, or other evidence of indebtedness;
e.	Money deposited to redeem stocks, bonds, coupons, or other securities, or to make distributions;
f.	An amount due and payable under the terms of an annuity or insurance policy, including policies providing life insurance, property and casualty insurance, workers' compensation insurance, or health and disability insurance; and
g.	An amount distributable from a trust or custodial fund established under a plan to provide health, welfare, pension, vacation, severance, retirement, death, stock purchase, profit sharing, employee savings, supplemental unemployment insurance, or similar benefits.
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SECTION 3.  G.S. 116B‑60 reads as rewritten:
"§ 116B‑60.  Report of abandoned property; certification by holders with tax return.
(a)	A holder of property presumed abandoned shall make a report to the Treasurer concerning the property. Holders reporting 50 or more property owner records shall file the report in an electronic format prescribed by the Treasurer. Holders reporting less than 50 property owner records may file the report electronically. Holders reporting electronically may file an electronic certification and verification in order to comply with subsection (f) of this section.
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(e)	Before the date for filing the report, the holder of property presumed abandoned may request the Treasurer to extend the time for filing the report. The Treasurer may grant the extension for good cause. The holder, upon receipt of the extension, may make an interim payment on the amount the holder estimates will ultimately be due, which terminates the accrual of additional interest on the amount paid.
(f)	The holder of property presumed abandoned shall file with the report a certification and verification that the holder has complied with G.S. 116B‑59.
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SECTION 4.  This act is effective when it becomes law and applies to reports filed or records created on or after that date.
In the General Assembly read three times and ratified this the 10th day of July, 2013.

	s/	 Daniel J. Forest
	 President of the Senate

	s/	 Thom Tillis
	 Speaker of the House of Representatives

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		 Pat McCrory
	 Governor

Approved __________.m. this ______________ day of ___________________, 2013