The state wants our money

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In a Dec. 5 opinion piece, www.myvalleynews.com/does-the-state-owe-you-money, Assembly member Marie Waldron asked, “Why does California have so much unclaimed property?” The correct answer is: the state wants the money. The state treats unclaimed property – mostly money – as revenue and puts it in the state’s general fund, where it’s spent. That placement obviously creates a disincentive to return the money, which explains why the state fails to return most of the money it collects. Look for unclaimed money at the state’s website, whose search capability is hopelessly inadequate, and you’ll find municipalities, schools, businesses, charities and individual taxpayers. The state could easily return their money. Anyone who finds lost money is ethically and legally obl
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