Program to give back $12M in lost money to IL residents

Program to give back $12M in lost money to IL residents

MURPHYSBORO, IL (KFVS) - A new program will give back Illinois residents lost money automatically, according to State Treasurer Michael Frerichs.

Nearly $80,000 is uncliamed in Williamson and Jackson Counties according to Frerichs' office.

According to Frerichs, the ‘Money Match’ program uses technology and state records to match unclaimed cash with qualifying Illinois taxpayers. The property must be $2,000 or less in cash with only one owner.

“We know that when we put more money in the hands of people here in southern Illinois and they spend it at local businesses and local restaurants, then that money circulates into the local economy and does a lot more good for the region than sitting in a back account in Springfield,” Frerichs said.

The goal is to return more money and without the need of paper to taxpayers. An estimated 63,000 notification letters will be mailed in September.

Over 830,000 Illinois unclaimed property files were evaluated to identify the 63,000 recipients.

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