Title
Amending Title 19 of The Philadelphia Code, entitled “Finance, Taxes and Collections,” by adding a new Chapter 19-4500, entitled “Annual Reporting Relating to Unclaimed Property,” all under certain terms and conditions.
Body
THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:
SECTION 1. Title 19 of The Philadelphia Code is hereby amended to read as follows:
TITLE 19. FINANCE, TAXES AND COLLECTIONS.
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CHAPTER 19-4500. ANNUAL REPORTING RELATING TO UNCLAIMED PROPERTY.
§ 19-4501. Annual Reports Relating to Unclaimed Property.
(1) The Director of Finance shall produce a report of all unclaimed property owed to the City on a yearly basis and file the report with the Office of the Controller and with the Chief Clerk of Council, with copies to the President and all members of Council.
(2) Each report filed pursuant to this Section shall contain the following information:
(a) A list of all unclaimed property owed to the City of Philadelphia as identified by the Commonwealth of Pennsylvania
(b) A record of each claim made to the Commonwealth of Pennsylvania to access the unclaimed property
(c) A record of each transaction of returned property to the City of Philadelphia
(d) A record of all outstanding claims owed to the City of Philadelphia
(e) A total amount of unclaimed property funds returned to the City of Philadelphia for each fiscal year
(3) All reports filed pursuant to this Section shall be kept available by the Chief Clerk of City Council for inspection and copying during regular office hours.
SECTION 2. Effective Date. The first report required by this Ordinance shall be submitted no later than 60 days after this Ordinance becomes law.
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Explanation:
[Brackets] indicate matter deleted.
Italics indicate new matter added.
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