State Treasurer: Over $40 million in unclaimed cash has been returned to Mississippians
JACKSON, Miss. (WLBT) - Since the beginning of 2020, over $40 million in unclaimed property has been returned to Mississippians.
This according to State Treasurer David McRae in a press release Tuesday.
“When we return unclaimed money, we are stimulating the state’s economy without increasing the burden on taxpayers. It’s a win-win,” said McRae.
He said that in the last year, the state has made it easier to file a claim with the entire process being available online.
“I am incredibly proud to announce we have exceeded $40 million in returns since I took office in 2020,” he stated.
Unclaimed money is turned over to the state when banks, credit unions, and retail stores are unable to find the rightful owner, McRae explained.
After five years, financial institutions turn the money over to the state and the Treasury’s Unclaimed Property Division is charged with finding the owner and returning the cash.
To search for unclaimed money, visit: Treasury.MS.gov/UnclaimedMoney.
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