BATON ROUGE, La. (AP) — Louisiana Treasurer John Schroder says the fund to pay unclaimed property claims is temporarily running low on cash and will have to delay sending out some payments until late October.
That’s because Democratic Gov. John Bel Edwards and lawmakers used dollars from the fund to balance the state budget.
The Republican treasurer’s office said businesses traditionally turn over unclaimed dollars in late October, refilling the fund so it can resume paying claims. Louisiana collects unclaimed dollars from old utility deposits, insurance proceeds and other accounts.
The treasurer’s office tries to locate people and return the money. In November, voters will decide whether to lock up the unclaimed property money in a trust fund.