Returning money to rightful owners
To the Editor:
House Bill 1546 is a win-win for New Hampshire.
Money returned to lawful owners is money pumped back into the economy. It generates tax revenue and supports local businesses. Some owners will be lifted out of debt by the return of their money. Some will use it to upgrade their work skills, pay college costs and purchase durable goods. Legislators who make this happen are doing the right thing.
Recently, New Hampshire has been taking in about $14 million in “owner unknown” funds annually. This amount should rise significantly as states attorneys general pursue insurance companies and others who have held beneficiaries’ money too long. In the past, only a little more than $5 million annually is ever claimed by rightful owners. Modern technology and research methods have outstripped the old rules.
Safe and secure identification of “unknown” owners is now possible. House Bill 1546 will get it done.
MELINDA LUTZ BYRNE