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