This bill mandates the prompt release of escrowed funds by the Administrative Office of the Courts (AOC) upon receipt of a final, non-appealable court order. It establishes that the AOC must disburse any funds or property held in escrow within 30 days of receiving the final order, with limited exceptions for withholding based on federal law or subsequent court orders. The bill also introduces penalties for noncompliance, including the accrual of interest at the statutory judgment rate for any delays beyond the 30-day period without lawful cause. Additionally, it allows entitled parties to seek court orders for immediate release and reasonable attorney's fees if disbursement is not made in a timely manner.
Furthermore, the bill includes provisions for retroactive application, allowing parties to claim remedies for instances where the AOC failed to disburse funds within the specified timeframe over the past five years. A written claim must be filed with the AOC within 18 months of the bill's effective date. The AOC is also required to submit an annual report detailing any escrowed funds that have not been disbursed within 30 days of a final order, which will include case docket numbers and amounts held, while excluding personal identifiers. The bill does not provide new funding or positions but anticipates the need for a part-time technician to manage the additional reporting requirements, with estimated costs of approximately $45,000 annually for the next three fiscal years.