PENNSYLVANIA (WHTM) — The legislation known as Pennsylvania Money Match is working to get items back into the hands of their owners.
According to the Treasury Department, one in 10 Pennsylvania residents has unclaimed property waiting for them. The average value of the unclaimed property is $1,600.
State Senator John DiSanto of Dauphin County is introducing the legislation.
Pennsylvania Money Match will authorize the Pennsylvania Treasury Department to automatically return single-owner property valued up to $5,000 to the rightful owner. This will take place after a thorough identification and verification process.
DiSanto says that this program will modernize the process. Larger and more complex claims are still going to be processed under the current procedure.
That required owners to file a claim and submit the information to confirm their identity and their right to property. If you have a claim over $5,000, you’d still have to fill out claim forms and submit additional information to confirm ownership.
DiSanto said that his bill has bipartisan support and expects it to pass.
“The initiative is truly common sense has a tremendous potential to make government work for taxpayers for a change,” stated DiSanto.
In February, Pennsylvania Treasurer Stacy Garrity announced that the Treasury Department returned more than $211 million in unclaimed property in 2022.
DiSanto stated that other states have also implemented similar programs.