An Act Regarding the Presumption of Abandonment of Gift Obligations O
Maine Legislature, Session 129, LD 1612
House Amendment HA_A_H661 (House)
Amends: 33 MRSA §2067

HOUSE AMENDMENT ''A- "to H.P. 1164, L.D. 1612, Bill, "An Act Regarding the 
Presumption of Abandonment of Gift Obligations" 
O 
Amend the bill by striking out everything after the enacting clause and inserting the 
following: 
'Sec. 1. 33 MRSA §2067, sub-§2, as enacted by PL 2019, c. 498, §22, is 
amended to read: 
2. Amount unclaimed is 60%. The amount unclaimed of a gift obligation is 60% of 
the net obligation value at the time it is presumed abandoned. as follows: 
A. For a gift obligation whose issuance or whose most recent transaction, whichever 
is later, occurred during calendar year 2019 or earlier, 60% of the net obligation value 
at the time it is presumed abandoned; 
B. For a gift obligation whose issuance or whose most recent transaction, whichever 
is later, occurred during calendar year 2020, 40% of the net obligation value at the 
time it is presumed abandoned: 
C. For a gift obligation whose issuance or whose most recent transaction, whichever 
is later, occurred during calendar year 2021, 20% of the net obligation value at the 
time it is presumed abandoned: and 
D. For a gift obligation whose issuance or whose most recent transaction, whichever 
is later, occurred during calendar year 2022 or after, 0% of the net obligation value at 
the time it is presumed abandoned.' 
SUMMARY 
This amendment provides that the amount of a gift obligation's net obligation that is 
unclaimed for purposes of the Maine Revised Unclaimed Property Act is 60% for gift 
obligations whose issuance or whose most recent transaction, whichever is later, occurred 
during calendar year 2019 or earlier; 40% for gift obligations whose issuance or whose 
most recent transaction, whichever is later, occurred during calendar year 2020; 20% for 
gift obligations whose issuance or whose most recent transaction, whichever is later, 
HOUSE AMENDMENT 
HOUSE AMENDMENT" A" to H.P. 1164, L.D. 1612 
occurred during calendar year 2021; and 0% for gift obligations whose issuance or whose 
most recent transaction, whichever is later, occurred during calendar year 2022 or after. 
SPONSORED BY: i} ,f'r,.A.... V)~;f: 
(Rep1·esentative BAILEY) 
TOWN: Saco 
FISCAL NOTE REQUIRED 
(See attac:hH) 
HOUSE AMENDMENT 
Approved: 01/09/20 ;'!:Pae 
LD 1612 
LR 1329(06) 
An Act Regarding the Presumption of Abandonment of Gift Obligations 
Fiscal Detail and Notes 
Fiscal Note for House Amendment 'J\" to Original Bill 
Sponsor: Rep. Bailey of Saco 
Fiscal Note Required: Yes 
Fiscal Note 
Delay of Revenue Reduction - General Fund 
The original bill completely removed the 60% presumption of abandonment for gift obligation cards. Subsequent 
amendments imposed incremental reductions to the amounts of unclaimed gift obligations. This amendment delays the 
incremental reductions by one year and changes the impact of the previously engrossed bill by eliminating the 
$1,700,000 revenue loss in fiscal year 2021-22, reducing the revenue loss in fiscal 2022-23 from $3,500,000 to 
$1,700,000 and reducing the revenue loss in fiscal year 2023-24 from $5,000,00 to $3,500,000. The annual revenue 
loss in years after fiscal year 2023-24 would continue to be $5,000,000. 
LR! 329(06) - Fiscal Note - Page 1 of 1