Standing just outside the Finance Building’s historic vault, Treasurer Stacy Garrity and Sen. John DiSanto (R-15) 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,” Treasurer Garrity said. “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.”
Senator DiSanto introduced Senate Bill 24 to create Pennsylvania Money Match.
“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,” Sen. DiSanto said. “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.”
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.
