On the ballot in November, 2020, residents of Louisiana will have the option to decide whether Unclaimed Property money should be protected in a constitutional trust fund.
Senate Bill 12, authored by state Sen. Michael Fesi, cleared the Legislature, putting the issue before Louisiana voters. The objective of the legislation is to ensure that Unclaimed Property is always available for people and businesses to claim it. In addition to protecting the integrity of the Unclaimed Property Program, the trust fund is expected to generate more than $40 million in investment earnings for the state budget within 20 years. Each year businesses turn over millions of dollars in unclaimed cash, stocks, bonds, securities, and insurance proceeds to the State Treasurer's Office.
One in six individuals in Louisiana has Unclaimed Property, with refunds averaging $900.00. To search for Unclaimed Property, visit www.latreasury.com.