“Do you support an amendment to create the Louisiana Unclaimed Property Permanent Trust Fund to preserve the money that remains unclaimed by its owner or owners?”
BATON ROUGE, La. (KLFY) – Louisiana voters have decided that the state’s unclaimed property should have its own trust fund instead of being lumped together with the state’s general fund.
Amendment No. 7 passed with 65% of the vote.
The amendment will place the state’s unclaimed property into a separate trust fund, which will guarantee the funds are always on hand to be reimbursed to those who claim them. Previously, that money would drain into the state’s general fund each year.
Instead, profits from investments will go into the general fund.