HARRISBURG – The PA Senate approved Senate Bill 24 which will automate the process of returning unclaimed property to rightful owners. Called PA Money Match, the measure will authorize the PA Treasury to automatically return single-owner properties for living individuals that are valued up to $5,000 after a thorough identification and verification process. At least 14 other states have successfully implemented similar programs. PA Money Match will not affect the claims process for properties valued above $5,000 or those that have multiple owners or other complexities. Those claimants will still have to file a claim and provide required supporting documentation. PA has more than $4 billion in unclaimed property. The bill moves to the PA House.
