KANSAS STATUTES AND CODES

58-3977. Unclaimed mineral proceeds trust fund; transfers from and to state general fund; annual accounting report.

58-3977

Chapter 58.--PERSONAL AND REAL PROPERTY Part 6.--MISCELLANEOUS PROVISIONS Article 39.--DISPOSITION OF UNCLAIMED PROPERTY ACT

58-3977. Unclaimed mineral proceeds trust fund; transfers from and tostate general fund; annual accounting report.(a) On the effective date of this act, or as soon thereafteras moneys areavailable, the director of accounts and reports shall transfer $5,000,000 fromthe state general fund to the unclaimed mineral proceeds trust fund which ishereby created in the state treasury. All moneys in the unclaimed mineralproceeds trust fund shallbe used for the payment of mineral proceeds claims made by another state forunclaimed mineral proceeds received in fiscal year 1994 and afterthe effective date of this act. Upon the request of the administrator and uponapproval by the state finance council acting on this matter which is herebycharacterized as a matter of legislative delegation and subject to theguidelines prescribed in subsection (c) of K.S.A. 75-3711c, and amendmentsthereto, the director of accounts andreports shall transfer an additional amount not to exceed $5,000,000 from thestategeneral fund tothe unclaimed mineral proceeds trust fund.

(b) Upon the request of the administrator, the director of accounts andreports shall make one or more transfers of moneys from the unclaimed mineralproceeds trust fund tothe state general fund in such amounts and on such dates as may be requested bythe administrator.

(c) The director of accounts and reportsshall transfer from the unclaimed mineral proceeds trust fund to the stategeneral fund any moneys remaining in such fund five years following theeffective date of this act.

(d) The administrator shall issue an annual accounting report on the moneyspaid from the unclaimed mineral proceeds trust fund for the prior fiscalyear.

History: L. 1994, ch. 8, § 44; March 3.