West Virginia Senate Bill SR21

West Virginia 2023 Regular Session

• Introduced: 1/31/23
• Enrolled: 2/1/23
• Passed: 2/1/23

Caption

Designating February 1, 2023, as National Unclaimed Property Day at Legislature

Impact

SR21 highlights the important role of the West Virginia State Treasurer's Office in securing and processing unclaimed properties and returning funds to their rightful owners. The resolution underscores the significant success of this office, which processed over 19,200 claims and returned $18.6 million to owners or their heirs in the previous fiscal year. By promoting National Unclaimed Property Day, the resolution aims to enhance public knowledge about the resources available for individuals to recover their unclaimed assets, ultimately fostering a sense of community and trust in state governance.

Summary

Senate Resolution 21 (SR21), introduced by Senator Weld, designates February 1, 2023, as National Unclaimed Property Day at the Legislature. This resolution aims to raise awareness about unclaimed property and the efforts of the West Virginia Treasurer's Office in managing and returning such properties. It provides an opportunity for individuals and businesses to learn about unclaimed assets that might belong to them, such as uncashed checks and insurance proceeds, thus promoting transparency and accountability in state financial management.

Sentiment

The sentiment surrounding SR21 is largely positive, reflecting a collaborative effort between the legislature and state financial offices to promote public awareness and support for financial literacy. Those in favor see the designation of National Unclaimed Property Day as a worthwhile initiative that can aid thousands of residents in West Virginia. The resolution received unanimous support in the Senate, indicating bipartisan agreement on the importance of the cause it represents.

Contention

While SR21 promotes an important public service, there are no reported points of contention or significant opposition regarding the resolution itself. The unanimous vote (31-0) indicates that the bill was not controversial and was generally supported by legislators as beneficial for the public good. However, debates around unclaimed property regulations and awareness could present further discussions in the future, focusing on potential improvements in the claims process and outreach efforts.