PENNSYLVANIA — Standing just outside the Finance Building’s historic vault, Treasurer Stacy Garrity and Sen. John DiSanto (R-15) yesterday announced that legislation automating the process of returning unclaimed property to rightful owners – known as Pennsylvania Money Match – was introduced this week.
“This will be a huge step forward in our efforts to return unclaimed property to Pennsylvanians as quickly as possible. Pennsylvania Money Match will get more money back into the wallets of hard-working Pennsylvanians, where it belongs. Many people don’t know they have unclaimed property, and we should make it as easy as possible to get these funds back where they belong. In today’s economy, every extra dollar can go a long way to helping families make ends meet,” said Stacy Garrity, Pennsylvania State Treasurer.
“I am pleased to join Treasurer Garrity to announce this new legislation that will return people’s unclaimed property more quickly, and without the burden of having to search and submit a claim. This initiative, which has strong bipartisan support, is truly commonsense and has tremendous potential to help residents get back unclaimed funds during this period of high-inflation and stretched family budgets,” stated Senator John DiSanto (R-15).
Pennsylvania Money Match will authorize Treasury to automatically return single-owner property for living individuals valued up to $5,000 to the rightful owner after a thorough identification and verification process. At least 14 other states have successfully implemented similar programs to automatically reunite their residents with many millions of dollars in unclaimed property.
For larger and more complex claims, owners would continue to fill out a claim form and submit additional information required to confirm their identity and rightful ownership.
Senator DiSanto introduced Senate Bill 24 to create Pennsylvania Money Match. SB 24 was referred to the Senate Finance Committee.
“I applaud Senator DiSanto for taking the lead on this important legislation. I look forward to working with him and the entire General Assembly to make this much-needed change to our unclaimed property program. And, as always, I encourage all Pennsylvanians to search our database for money that may be theirs,” said Garrity.
Since taking office, Treasurer Garrity has implemented multiple improvements to the unclaimed property program, including:
- Upgrading the system for the first time in more than 15 years;
- Implementing a fast-track process for many claims; and
- Allowing direct deposit payments for many claimants.
Treasury returned more than $211 million worth of unclaimed property in 2022. More than $4 billion is currently waiting to be claimed. One in ten Pennsylvanians is owed unclaimed property, and the average claim is worth about $1,600.
To search Treasury’s unclaimed property database, visit patreasury.gov/unclaimed-property.
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