THOUSANDS of residents in one US state could be eligible for checks worth up to $5,000, officials have announced.
The Illinois State Treasurer’s Office currently has $3.5 billion in unclaimed funds.
Most of the money came from dormant accounts at businesses, banks, courts and insurance companies, local NBC affiliate WMAQ reported.
More than 60,000 Illinois residents are now in line to receive checks worth up to $5,000, State Treasurer Michael Frerichs announced earlier this month.
Improvements to the state’s unclaimed property program mean residents no longer have to apply for this money.
The checks will be sent to you automatically.
These changes also increased the cap on reimbursements from $2,000 to $5,000.
The improvements came after officials began matching state data with information from the treasurer’s unclaimed property database.
This program is limited to individuals who are owed money.
It does not apply to cash owed to multiple parties, joint property owned by a parent and their minor child, stocks and bonds, escrow accounts, or safe deposit boxes.
Checks have been mailed to 66,700 Illinois residents so far, and more will be sent out in the coming weeks.
Residents of a New York county may soon receive a check.
A newly passed bill with $9 million in funding means property owners in Schenectady County, northwest of Albany, could get a $250 rebate.
About 34,000 residents are expected to receive the discounts, but they must meet some requirements.
Property owners must be enrolled in the School Tax Relief program, which is designed to help New York residents save money on their bills each year.
Eligibility for this program depends on what type of home a property owner lives in.
Those who live in houses, cooperative apartments, manufactured homes, farmhouses, mixed-use properties and condominiums are eligible.