An Act Regarding the Presumption of Abandonment of Gift Obligations
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 33 MRSA §2067, sub-§2, as enacted by PL 2019, c. 498, §22, is amended to read:
2. Amount unclaimed is 60%. The amount unclaimed of a gift obligation is 60% of the net obligation value at the time it is presumed abandoned. as follows:
A. For a gift obligation whose issuance or whose most recent transaction, whichever is later, occurred during calendar year 2019 or earlier, 60% of the net obligation value at the time it is presumed abandoned;
B. For a gift obligation whose issuance or whose most recent transaction, whichever is later, occurred during calendar year 2020, 40% of the net obligation value at the time it is presumed abandoned;
C. For a gift obligation whose issuance or whose most recent transaction, whichever is later, occurred during calendar year 2021, 20% of the net obligation value at the time it is presumed abandoned; and
D. For a gift obligation whose issuance or whose most recent transaction, whichever is later, occurred during calendar year 2022 or after, 0% of the net obligation value at the time it is presumed abandoned.
Effective 90 days following adjournment of the 129th Legislature, Second Regular Session, unless otherwise indicated.