[Congressional Record Volume 140, Number 82 (Friday, June 24, 1994)]
[Senate]
[Page S]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: June 24, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
                       EQUITABLE ESCHEATMENT ACT

 Mr. JOHNSTON. Mr. President, as a cosponsor of S. 1715, I rise 
to express my support of the current settlement negotiations between 
New York, Delaware, and the 47 States that support the Equitable 
Escheatment Act. A negotiated compromise acceptable to all States is 
preferable to either the status quo of 2 States dividing $100 million 
annually to the virtual exclusion of 47 other States, or a bruising 
floor fight among sister States.
  If the negotiations do not result in an equitable compromise in the 
near future, however, I will support the Senate acting on S. 1715. New 
York and Delaware should not be permitted to continue escheating 
interest paid by Louisiana taxpayers on bonds issued by the State of 
Louisiana and its municipalities.

                          ____________________