Lost & Found: A Report from Pennsylvania, A Request From Montana, & Progress in Wisconsin
Pennsylvania Treasurer Reports on Unclaimed Property Collections -- Pennsylvania State Treasurer Rob McCord has released his most recent quarterly report on the Keystone State's finances. According to that report, Pennsylvania brought in more than $200 million in unclaimed property "revenue" to the Commonwealth in 2011.
Montana Makes Negative Report Request -- Some states have a requirement that a holder send a report every year -- even if the holder has no property to deliver to the state. These are called "negative" or "zero" reports. According to a press release listed on the website of the UPPO, Montana has clarified its negative report process. More information is available on the UPPO website, but essentially Montana has clarified that a holder need not send a negative report if the holder has never before reported or remitted property to Montana.
Wisconsin Legislation Makes Progress -- The blog of the Wisconsin State Treasurer has updated the status of 3 unclaimed property related bills making their way through the Wisconsin state legislature. The two most significant bills A418 and A419 would, respectively, require heir finders to submit a copy of any claiming agreement to the state treasury, and would increase penalties for a holder's willful failure to report or deliver property. Both of those bills have passed the State Assembly and are awaiting action by the Senate.
NY Fraud Investigator Busted for Unclaimed Property Fraud -- According to an article in the Utica Observer-Dispatch, an investigator in New York's welfare fraud unit was prosecuted by the Manhattan District Attorney's Office (of Law & Order fame) for submitting several false unclaimed property claims.
Montana Makes Negative Report Request -- Some states have a requirement that a holder send a report every year -- even if the holder has no property to deliver to the state. These are called "negative" or "zero" reports. According to a press release listed on the website of the UPPO, Montana has clarified its negative report process. More information is available on the UPPO website, but essentially Montana has clarified that a holder need not send a negative report if the holder has never before reported or remitted property to Montana.
Wisconsin Legislation Makes Progress -- The blog of the Wisconsin State Treasurer has updated the status of 3 unclaimed property related bills making their way through the Wisconsin state legislature. The two most significant bills A418 and A419 would, respectively, require heir finders to submit a copy of any claiming agreement to the state treasury, and would increase penalties for a holder's willful failure to report or deliver property. Both of those bills have passed the State Assembly and are awaiting action by the Senate.
NY Fraud Investigator Busted for Unclaimed Property Fraud -- According to an article in the Utica Observer-Dispatch, an investigator in New York's welfare fraud unit was prosecuted by the Manhattan District Attorney's Office (of Law & Order fame) for submitting several false unclaimed property claims.