| The government requires unclaimed money be | | | | the State and 40% remain for the retailer. |
| turned over to state. Now they are passing | | | | George Delta, from the counsel to the |
| bills to spend this money that may belong to | | | | Incentive Marketing Association, stated |
| you! Are they legalizing theftUnclaimed | | | | "States require businesses to give them some |
| money accounts in the United States total | | | | type of periodic report of the amount of |
| over $25 BILLION dollars. The money ends up | | | | unclaimed property they are holding. This |
| in these account do to the governments | | | | allows the state to monitor this potential |
| "escheat laws" requiring institutions such as | | | | source of income."With the states |
| banks to turn over funds from dormant bank | | | | experiencing such great budget benefits from |
| accounts, uncashed checks, unused gift cards, | | | | the unclaimed property funds, they have |
| etc. States are now passing bills to spend | | | | little incentive to locate the rightful |
| the money from these Unclaimed Property Trust | | | | owners of this money.In the state of |
| Funds. These funds are owed to millions of | | | | California the lost funds have reached over |
| Americans and instead of making any sizable | | | | $5 billion and it is estimated 1 in 5 have |
| effort to contact the rightful owners, the | | | | unclaimed money. How hard is it to find Ryan |
| state is now proposing to spend this money to | | | | Seacrest, Reese Witherspoon, Julia Roberts, |
| handle there own budget problems.States are | | | | Kate Hudson and Benicio Del Toro? They are |
| passing bills allowing them to use the | | | | all owed money from California's state |
| missing money funds. One such case is a Bill | | | | database. Microsoft is owed over $25,000!!! |
| was passed last year in Arkansas. The Bill | | | | California's Unclaimed Property Trust Funds |
| was created impart to allow the State to | | | | is likely to be a target piggy bank for the |
| transfer up to $15,000,000 of funds from the | | | | CA Governor to use to assist with the states |
| "Unclaimed Property Proceeds Trust Fund" to | | | | budget issues.Nicole Anderson offers more |
| the States General Improvement Fund. The | | | | information about unclaimed money at Cash |
| subtitle of this Bill states the funds are to | | | | Unclaimed. Would you like to receive your |
| be used "...to provide additional funds for | | | | lost funds check without searching 100+ |
| the State budget".Some states such as Indiana | | | | individual databases? A simple unclaimed |
| and Iowa require that 60% of the money from | | | | property search could mean a check in your |
| unused expired gift certificates be sent to | | | | mailbox. |