Legislation - SB0561

Title: Corporations and Associations - Electric Cooperatives - Nonescheat Capital Credits
Sponsored by: Senators Hershey and Mautz
Status: In the House - First Reading Economic Matters
Analysis: Fiscal and Policy Note

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.

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	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

File Code

Subjects

Statutes