Easy Moolah: Residents In Texas Can Claim Owed Money Faster Now
Who doesn't love getting more money? It's always a surprise when we get or find money that we don't remember having. Like finding a $20 on the ground.
Sometimes however, money we didn't know that we could claim is something we don't normally do. But for those wanting to check if there was any unclaimed property, Texans would go to ClaimItTexas.org. However things have gotten easier for Texans looking to claim money they may not know they have.
The Effect of Texas House Bill 1514
The Texas Comptroller now has the ability to send checks to those who has unclaimed money. Texas House Bill 1514, which was passed in 2021, gave Comptroller the right to do so. The agency will only send the money, amounts under $5,00 for unclaimed properties, if they are able to confirm the owner of the money.
Therefore, the Texas Comptroller will not send out money owed without confirming said individual is owed the funds. Those wishing to still file claims can still do so at the previously mentioned website. The statute of limitations also does not normally apply to unclaimed property in Texas, so those wanting to check for unclaimed funds, can do so without a time limit impeding their ability.
Texas Comptroller's Effect
According the to Comptroller, they've returned nearly $3 billion in owed money to their right owners. After one to five years, businesses in Texas will relinquish the unclaimed funds to the previously mentioned Comptroller.
It is hard to believe that some in Texas may have money they don't even know exists. So if you haven't checked in a while, now may be the time to see if you have money that's yours and not in your bank account.