Finder or tracer firms will help people recover that money, but some charge as much as 50-percent to return it to the rightful owner.
The legislation would:
"Illinois consumers shouldn't have to spend their own money to find what's already rightfully theirs. This bill is nothing more than a commonsense measure designed to close a loophole that is quickly becoming a money pit," said Alexi Giannoulias, State Treasurer.
The bill would also alert consumers who mistakenly overpay their property taxes.