Are You Owed Any Unclaimed Property?
6/9/2017
Updating the 85th District
The latest news from the State Capitol
         
Are You Owed Any Unclaimed Property?

The Commonwealth of Pennsylvania is holding $2.3 billion in unclaimed property…could some of it be yours?

Unclaimed property is any financial asset that has been left inactive by the owner for a period of time (three years for most types of property). If no lawful owner claims the property at that time, it is transferred to the Pennsylvania Treasury Department. The most common kinds of unclaimed property include savings and checking accounts, uncashed checks, unclaimed insurance benefits and items abandoned in forgotten safe deposit boxes. The amounts can range from a few dollars to a few thousand dollars.

To find out if you or a member of your family is entitled to unclaimed property, click here to check out the free online database offered by the Treasury Department.

Please note: Pennsylvania Treasury always assists claimants with preparing and filing claims for free. However, independent “finders” are permitted to offer their assistance for a fee, which is capped at 15 percent under state law. The law also requires all finders and property recovery professionals who assist potential claimants assemble a claim for a fee to complete an application and be certified as a finder by the Pennsylvania Treasury.
                  
         
 
Thank you to Bingaman & Son Lumber Inc. of Kreamer for hosting a meeting of the National Federation of Independent Business last week. We had a great discussion about issues affecting small businesses within the Commonwealth, and I appreciated the opportunity to talk to many of our area’s business leaders, including Larry Newman of the Larry Newman Agency and Sunset Skating Rink.
                  
                                             
 
Selinsgrove FFA members had the opportunity to visit the historic state Capitol recently and stopped by the House floor during their tour. Pictured left to right are: Michael Huggins, Kayla Shaffer, Alyssa Landis, Nathan Moyer and Hannah Ross.
                  
         
House OKs Pension Changes for New Employees

In a major step forward in the effort to reform the state’s public pension systems, the House this week passed legislation that aims to slow the growth of pension liabilities, shift risk away from taxpayers and ensure the Commonwealth can meet its future pension obligations.

Senate Bill 1, which received bipartisan support, would establish three new public pension plans from which state employees and teachers hired in 2019 or later can choose. Each offers a defined contribution component, similar to a 401(k) commonly offered to workers in the private sector. The plans provide future employees with retirement security and portability while also protecting taxpayers.

Current employees will have the opportunity to opt in to a new plan or continue in their current plan, and retirees would not see any changes to their plans. The governor is expected to sign the measure.

For more information, click here.
                  
         
 

Assessing the Work of the Central PA Food Bank

The House Majority Policy Committee recently held a public hearing about the work of the Central Pennsylvania Food Bank, which serves 27 counties in central PA, including Union and Snyder counties. The hearing was followed by a tour of the food bank’s operations in Williamsport. This organization is funded primarily by private dollars and works with a variety of partner organizations to provide a variety of both fresh and shelf stable foods to people in need.
                  
         
Bill to Base Budget Decisions on Performance Passes House

To help ensure tax dollars are used to their maximum benefit, the House passed legislation, which would require performance-based budgeting.

This type of budgeting uses performance matrices to determine whether each state department has met its goals and objectives, and bases future budget allocations on what was accomplished with the dollars given. Budget requests would include itemized expenditures for all activities required by state and federal statutes at minimum and current levels.

This is another effort by the House to stand up for taxpayers and reinvent the way state government operates.

House Bill 410 now goes to the Senate for review.
                  
         
Property Tax/Rent Rebate Deadline Extended

The deadline to apply for the state’s 2016 Property Tax/Rent Rebate program has been extended from June 30 to Dec. 31.

Eligible participants can receive a rebate of up to $650 based on their rent or property taxes paid in 2016. The program benefits eligible Pennsylvanians who are 65 years or older, widows and widowers 50 years or older, and those 18 years or older with disabilities. Complete eligibility information is available here.

Rebate checks will begin to be mailed on July 3. Claimants who already applied for their rebates may check the status of claims online at www.revenue.pa.gov or by calling, toll-free, 1-888-PATAXES.

For more information, contact the Mifflinburg office at 570-966-0052 or 570-837-0052; stop by the office at the Mifflinburg Government Center, 343 Chestnut St., Suite 1; or visit www.RepFredKeller.com.
                  
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