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03/29/2024 03:28 AM
Pennsylvania State Senate
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=S&SPick=20210&cosponId=36831
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Senate of Pennsylvania
Session of 2021 - 2022 Regular Session

MEMORANDUM

Posted: February 8, 2022 08:58 AM
From: Senator John R. Gordner
To: All Senate members
Subject: Resolution Calling on Congress to Act on Savings Bonds
 
In the near future, I plan to introduce a resolution urging Congress to enact the Unclaimed Savings Bond Act.  This Act would direct the redemption and transfer of matured, unredeemed and unclaimed US Savings Bond proceeds to the unclaimed property administrators of each state.
 
It is estimated that unredeemed US Savings Bonds owed to Pennsylvanians are between $928 million and $1.4 billion in value. 
 
Over the past 10 years, the Pennsylvania Treasury Department has returned over $1.5 billion in unclaimed property to Commonwealth residents.  And, since 2016, the Bureau of Unclaimed Property has reunited over 4,800 bonds worth over $1.8 million to their rightful owners.
 
Please join me in urging Congress to start the process of returning a significant amount of money owed to Pennsylvania residents.
 



Introduced as SR258