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House Co-Sponsorship Memoranda
House of Representatives
Session of 2023 - 2024
Regular Session
MEMORANDUM
| Posted: | December 2, 2022 01:04 PM |
|---|---|
| From: | Representative Leslie Rossi |
| To: | All House members |
| Subject: | Ensuring that local governments receive their unclaimed property |
| One of the main duties of the Treasury Department is to return unclaimed property back to its rightful owner. When most people think about this process, they’re picturing individuals as the rightful owners, but local governments can have unclaimed property too. The amount of unclaimed property owned by local governments can be substantial. In addition to the required outreach to property owners, the State Treasurer has begun a process to systematically reach out to local governments that have unclaimed property at the Treasury. This is an excellent step forward and I will soon be introducing legislation to enshrine that practice into law. While the amounts owned by local governments that remain unclaimed may be small, any money that is returned to them is money that does not need to be raised from the taxpayers. I look forward to working with you on this important legislation. |
Introduced as HB792