HARRISBURG, Pa. — Pennsylvania officials announced legislation Wednesday to ensure more people get their unclaimed property returned.
State treasury officials joined Senate lawmakers to present the Money Match Initiative.
The program, part of Pa. Senate Bill 24, will authorize the treasury to automatically return up to $5,000 to people who have unclaimed property held by the state.
“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," said Sen. John DiSanto (R-15).
Officials say that they are working to speed up the process in an effort to return property to Pennsylvanians faster.
"This will be a huge step forward in our efforts to return unclaimed property to Pennsylvanians as quickly as possible," Treasurer Stacy Garrity said. "Pennsylvania Money Match will get more money back into the wallets of hard-working Pennsylvanians, where it belongs."
In 2022, more than $211 million worth of unclaimed property was returned by the treasury with more than $4 billion still waiting to be claimed.
One in ten Pennsylvanians is reportedly owed unclaimed property, with the average claim worth around $1,600.
For more information on how to find unclaimed property, click here.