HARRISBURG – The Senate approved legislation authorizing the state to return unclaimed property without the need for rightful owners to search for it, Sen. Devlin Robinson (R-37) said today.
Known as Pennsylvania Money Match, Senate Bill 24 would authorize the Pennsylvania Treasury Department to automatically return single-owner property for living individuals valued up to $5,000 after a thorough identification and verification process. The legislation streamlines the return of unclaimed money by eliminating the need for citizens to search and file a claim.
For larger and more complex claims, owners would still be required to complete a claim form and provide additional information to confirm their identity and rightful ownership.
“Pennsylvania Money Match will efficiently return unclaimed money and property to citizens where it rightly belongs,” Robinson said. “The money will go far for families and individuals who are managing through this tough economy.”
Pennsylvania Money Match is modeled after successful programs implemented in several other states, which have reunited their residents with unclaimed property worth millions of dollars annually.
Senate Bill 24 will be sent to the House of Representatives for consideration.
Pennsylvanians can search Treasury’s unclaimed property database at patreasury.gov/unclaimed-property.