Legislation - SB0561

Title: Corporations and Associations - Electric Cooperatives - Nonescheat Capital Credits
Sponsored by: Senators Hershey and Mautz
Status: Approved by the Governor - Chapter 213
Analysis: Fiscal and Policy Note (Revised)

Synopsis

Providing that certain unclaimed money held by an electric cooperative and due to a past member is not considered abandoned property; and authorizing an electric cooperative to use this money only to assist members of the cooperative or make donations to nonprofit, charitable organizations approved by the cooperative's board of directors.

Committees

Original:: Judicial Proceedings

Opposite:: Economic Matters

Committee Testimony

Witness List

Details

Cross-filed with: HB0227

Introduced in a prior session as: SB0510 Session: 2024 Regular Session

Bill File Type: Regular

Effective Date(s): October 1, 2025

History

Legislation History
Chamber Senate Calendar Date 1/24/2025 Legislative Date 1/23/2025 Action First Reading Judicial Proceedings Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Corporations and Associations - Electric Cooperatives - Nonescheat Capital Credits Proceedings
Chamber Senate Calendar Date 1/27/2025 Legislative Date 1/27/2025 Action Hearing 1/31 at 11:00 a.m. Proceedings
Chamber Senate Calendar Date 1/28/2025 Legislative Date 1/28/2025 Action Hearing canceled Proceedings
Chamber Senate Calendar Date 1/28/2025 Legislative Date 1/28/2025 Action Hearing 1/31 at 10:00 a.m. Proceedings
Chamber Calendar Date Legislative Date Action Vote - Senate - Committee - Judicial Proceedings Proceedings Click to view Recorded Media
Chamber Senate Calendar Date 2/10/2025 Legislative Date 2/10/2025 Action Favorable Report by Judicial Proceedings Proceedings
Chamber Senate Calendar Date 2/11/2025 Legislative Date 2/02/2025 Action Favorable Adopted Proceedings 22 Click to view Recorded Media
Chamber Senate Calendar Date 2/11/2025 Legislative Date 2/02/2025 Action Second Reading Passed Proceedings 22 Click to view Recorded Media
Chamber Calendar Date Legislative Date Action Text - Third - Corporations and Associations - Electric Cooperatives - Nonescheat Capital Credits Proceedings
Chamber Senate Calendar Date 2/13/2025 Legislative Date 2/04/2025 Action Third Reading Passed (45-0) Proceedings 24 Click to view Recorded Media
Chamber House Calendar Date 2/14/2025 Legislative Date 2/14/2025 Action Referred Economic Matters Proceedings 28 Click to view Recorded Media
Chamber Calendar Date Legislative Date Action Vote - House - Committee - Economic Matters Proceedings Click to view Recorded Media
Chamber House Calendar Date 4/05/2025 Legislative Date 4/05/2025 Action Favorable with Amendments Report by Economic Matters Proceedings
Chamber House Calendar Date 4/05/2025 Legislative Date 3/22/2025 Action Favorable with Amendments {803124/1 Adopted Proceedings 62 Click to view Recorded Media
Chamber House Calendar Date 4/05/2025 Legislative Date 3/22/2025 Action Second Reading Passed with Amendments Proceedings 62 Click to view Recorded Media
Chamber House Calendar Date 4/07/2025 Legislative Date 3/23/2025 Action Third Reading Passed (139-0) Proceedings 63 Click to view Recorded Media
Chamber Senate Calendar Date 4/07/2025 Legislative Date 3/23/2025 Action Senate Concurs House Amendments Proceedings 71 Click to view Recorded Media
Chamber Senate Calendar Date 4/07/2025 Legislative Date 3/23/2025 Action Third Reading Passed (47-0) Proceedings 71 Click to view Recorded Media
Chamber Senate Calendar Date 4/07/2025 Legislative Date 3/23/2025 Action Passed Enrolled Proceedings
Chamber Calendar Date Legislative Date Action Text - Enrolled - Corporations and Associations - Electric Cooperatives - Nonescheat Capital Credits Proceedings
Chamber Post Passage Calendar Date 4/22/2025 Legislative Date 4/22/2025 Action Approved by the Governor - Chapter 213 Proceedings
Chamber Calendar Date Legislative Date Action Text - Chapter - Corporations and Associations - Electric Cooperatives - Nonescheat Capital Credits Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
Senate	1/24/2025	1/23/2025	First Reading Judicial Proceedings
			Text - First - Corporations and Associations - Electric Cooperatives - Nonescheat Capital Credits
Senate	1/27/2025	1/27/2025	Hearing 1/31 at 11:00 a.m.
Senate	1/28/2025	1/28/2025	Hearing canceled
Senate	1/28/2025	1/28/2025	Hearing 1/31 at 10:00 a.m.
			Vote - Senate - Committee - Judicial Proceedings	Click to view Recorded Media
Senate	2/10/2025	2/10/2025	Favorable Report by Judicial Proceedings
Senate	2/11/2025	2/02/2025	Favorable Adopted	22 Click to view Recorded Media
Senate	2/11/2025	2/02/2025	Second Reading Passed	22 Click to view Recorded Media
			Text - Third - Corporations and Associations - Electric Cooperatives - Nonescheat Capital Credits
Senate	2/13/2025	2/04/2025	Third Reading Passed (45-0)	24 Click to view Recorded Media
House	2/14/2025	2/14/2025	Referred Economic Matters	28 Click to view Recorded Media
			Vote - House - Committee - Economic Matters	Click to view Recorded Media
House	4/05/2025	4/05/2025	Favorable with Amendments Report by Economic Matters
House	4/05/2025	3/22/2025	Favorable with Amendments {803124/1 Adopted	62 Click to view Recorded Media
House	4/05/2025	3/22/2025	Second Reading Passed with Amendments	62 Click to view Recorded Media
House	4/07/2025	3/23/2025	Third Reading Passed (139-0)	63 Click to view Recorded Media
Senate	4/07/2025	3/23/2025	Senate Concurs House Amendments	71 Click to view Recorded Media
Senate	4/07/2025	3/23/2025	Third Reading Passed (47-0)	71 Click to view Recorded Media
Senate	4/07/2025	3/23/2025	Passed Enrolled
			Text - Enrolled - Corporations and Associations - Electric Cooperatives - Nonescheat Capital Credits
Post Passage	4/22/2025	4/22/2025	Approved by the Governor - Chapter 213
			Text - Chapter - Corporations and Associations - Electric Cooperatives - Nonescheat Capital Credits

File Code

Subjects

Statutes