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Department of Revenue and Metairie's Lakeside Shopping Center to Host "Unclaimed Property Awareness Day"

Department Is Holding $130 Million In "Hidden Treasures". . . Some Of It May Be Yours!

July 29, 1998

BATON ROUGE - Do you have a "Hidden Treasure" waiting for you? This weekend, Metairie area shoppers will have the chance to find out.

On Saturday, August 1, the Louisiana Department of Revenue and Lakeside Shopping Center in Metairie will be hosting Unclaimed Property Awareness Day at the mall between the hours of 10:00 am and 4:00 pm. (3301 Veterans Blvd., center court, leading to J.C. Penny''s.)

At the event, shoppers can instantly find out if they are one of the thousands of Unclaimed Property holders in the Department of Revenue''s computerized database. "This is a chance for people in Metairie to meet with Department officials and see if they, their families, or their friends have some money waiting for them," says Secretary of Revenue John Kennedy.

Those persons who do find Unclaimed Property can even file a claim for the money on the spot, and receive a check within a few weeks. On past Unclaimed Property Awareness Days, the Department returned to their rightful owners nearly $47,000 in Baton Rouge, $50,000 in Slidell and $55,000 in Lafayette.

Under Louisiana''s Unclaimed Property Law, the Louisiana Department of Revenue is responsible for finding owners of unclaimed, intangible personal property turned over to the state. This unclaimed property may include payroll checks, checking and savings accounts, royalties, utility deposits, interest, dividends, stock certificates, and life insurance proceeds.

"It''s our job to try to find the owners of unclaimed property and return it to them," says Secretary Kennedy. With the support and assistance of the Louisiana Legislature, the Department has returned more than $40 million since the Unclaimed Property Law was passed in 1972. "We expect taxpayers to pay their taxes on time and the least we can do at the Department of Revenue is to make sure that when we have some of their hard-earned money, we do our best to return it to them. Governor Foster said it best: it''s not our money and we''re going to give it back."