Millions of Californians have made hefty contributions of cash, stocks and personal property to state coffers without knowing it. The reason behind this is that lawmakers have been pilfering from the state’s unclaimed-property cache and using the proceeds to help balance the budget.
Approximately $896 million in unclaimed property was turned over to the state for safekeeping last year under a 46-year-old program designed to protect forgotten or abandoned assets. Less than $239 million of that was eventually claimed; most of the rest went into the state’s general fund.
{"id":36,"date":"2005-11-24T01:23:51","date_gmt":"2005-11-24T06:23:51","guid":{"rendered":"http:\/\/www.cashunclaimed.com\/unclaimed-property-blog\/uncategorized\/is-california-taking-your-money"},"modified":"2005-11-24T01:24:28","modified_gmt":"2005-11-24T06:24:28","slug":"is-california-taking-your-money","status":"publish","type":"post","link":"https:\/\/www.cashunclaimed.com\/unclaimed-property-blog\/unclaimed-property\/is-california-taking-your-money","title":{"rendered":"Is California taking your money?"},"content":{"rendered":"\n\n\t<\/p>
Millions of Californians have made hefty contributions of cash, stocks and personal property to state coffers without knowing it. The reason behind this is that lawmakers have been pilfering from the state’s unclaimed-property cache and using the proceeds to help balance the budget.<\/p>\n\n\t
<\/p>
Approximately $896 million in unclaimed property was turned over to the state for safekeeping last year under a 46-year-old program designed to protect forgotten or abandoned assets. Less than $239 million of that was eventually claimed; most of the rest went into the state’s general fund.<\/p>\n\n