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News
NAUPA News
NAUPA Tackles Education and Reporting
Winter 2009
The National Association of Unclaimed Property Administrators (NAUPA), held its first Webinar, Unclaimed Property 101: The Essentials of Reporting and Compliance, on September 30, 2009, which was attended by 1000 participants. NAUPA hosted the free event to further its mission of training to assist states by furthering education that results in understanding and compliance with unclaimed property laws. The entire Webinar can be viewed on the NAUPA Web site.
The Uniformity and Standardization Committee, chaired by Carolyn Atkinson (WV), is working through its own community of practice (COP) and mastermind groups to address two very different reporting matters. The Reporting Software group, facilitated by Barbara Rice (SC), was created to pursue the development of basic multi-state holder reporting software that would be provided to states and holders free of charge without interruption. An RFP has been issued and can be viewed and downloaded on the NAUPA Web site. The Codes group, facilitated by Kathy Janes (OK), is studying the need for additional property type codes to the NAUPA Standard Electronic File Format for tax-deferred assets.
Another COP, Stocks, Bonds, Mutual Funds, & Tax Deferred Issues, facilitated by John Gabriel (TN), is continuing discussions with members and industry groups to work through technical concerns that will bring more clarity and help to streamline the securities reporting process.
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Operation Rightful Owner (ORO) Introduced in House, Gains Publicity and Support
December 2009
Reps. Shelley Berkley (D-Nevada) and Kevin Brady (R-Texas) introduced H.R. 4198, the House counterpart to the Senate version (S. 827) of the unclaimed savings bond bill. They were joined as original co-sponsors of the legislation by Reps. Lynn Jenkins (R-Kan.), Dina Titus (D-Nevada), and Greg Walden (R-Oregon). The effort to return unclaimed savings bonds to their rightful owners was given a significant publicity boost when the December 6 Parade Magazine (circulation 33 million), ran a story on the NAST-sponsored legislation. NAST's Washington Office staff worked with the magazine's writers to develop the story. As a result of other outreach efforts by NAST's Washington Office staff, the Military Officers Association of America (MOAA) embraced the unclaimed savings bond legislation and sent a report on the legislation to its 128,000 members. MOAA also sent information about the legislation to the thirty-four member organizations of the Military Coalition, which represents some 5.5 million veterans, reservists, and active duty military service members. NAST's Washington Office staff also worked with the Council of State Governments (CSG) to secure its endorsement of this legislation. On December 9, CSG's President, West Virginia Governor Joe Manchin, and CSG's Chairman, Idaho State Senator Bart Davis, sent a letter of support to Sens. Rockefeller and Roberts.
Find out more about Operation Rightful Owner and the savings bond legislation.
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