§ 39-21-121 — Unclaimed property offset - definition

(1) (a) The department
shall periodically certify to the state treasurer, acting as the administrator of
unclaimed property under the Revised Uniform Unclaimed Property Act, article 13
of title 38, information regarding persons who are liable for the payment of taxes,
penalties, or interest imposed pursuant to articles 22 to 33 of this title 39 that are
delinquent and in distraint.

(b) The information described in paragraph (a) of this subsection (1) shall
include the social security number or federal employer identification number,
whichever is applicable, of the person owing the delinquent taxes, penalties, or
interest, the amount owed, and any other identifying information required by the
state treasurer.

(2) (a) Before paying a claim for unclaimed property pursuant to section 38-13-905, the state treasurer shall compare the social security number or federal
employer identification number, whichever is applicable, of the claimant with those
certified by the department pursuant to subsection (1) of this section. If the name
and associated social security number or federal employer identification number of
a claimant appears among those certified, the state treasurer shall obtain the
current address of the claimant, suspend the payment of the claim, and notify the
department. The notification shall include the name, home address, and social
security number or federal employer identification number of the claimant.

(b) After receipt of the notification from the state treasurer that a person
claiming unclaimed property pursuant to section 38-13-903 appears among those
certified by the department pursuant to subsection (1) of this section, the
department shall notify the person, in writing, that the state intends to offset the
person's delinquent state taxes, penalties, or interest liability against the person's
claim for unclaimed property.

(3) Except as otherwise provided in section 38-13-902.1 (2), upon notification
by the state treasurer of the amounts of unclaimed property held pursuant to
section 38-13-902.3, the department shall apply such amounts to the person's
delinquent state tax liability.

(4) The department shall promulgate rules pursuant to article 4 of title 24,
C.R.S., establishing procedures to implement this section.

(5) For purposes of this section, claim for unclaimed property means a cash
claim submitted in accordance with section 38-13-903.

Legislative History

Source: L. 2005: Entire section added, p. 701, � 6, effective August 8. L. 2019: (1)(a), (2), (3), and (5) amended, (SB 19-088), ch. 110, p. 471, � 20, effective July 1, 2020.