THE LATEST INTERESTING & USEFUL UNCLAIMED PROPERTY NEWS:

***Click on the links below (new window will open)

• Illinois offering a formal amnesty program for holders  |  JMS can help your company participate
• Delaware struggling to balance its budget - plans to raise taxes
• Unclaimed property across the pond
• California looking to extend dormancy periods to 5 years for most property types - A.B. 2221
• Nevada Treasurer closes budget gap with unclaimed property -- more audits key  |  one article calls it "creative economics"
• Iowa revises petition in Young America case - adds T-Mobile USA & Walgreen's as defendants
• Businessweek:  The Scramble for Gift Card Cash
• Illinois' Great Grab for Cash - Gift Cards
• Internal e-mail from California Controller's Office regarding recent notification program
• Forbes article about the Delaware embezzlement scandal
• 9th Circuit lifts ban on California unclaimed property program  |  Read CA SCO press release
• California Update:  new rules regarding owner notification OK'd by court
• Maine Treasurer vows to close budget gap with sale of unclaimed assets
• Illinois HB 5373 aims to cap fees on unclaimed property locators
• ABC's Good Morning America program runs story on unclaimed property
• New Nebraska gift card regulations
• Interview with Rhode Island Treasurer re: state's unclaimed property program
• Synopsis of California's new gift card laws
• British Columbia, Canada proposes new gift card law
• Keep track of your gift cards - giftcardtracker.com
• $1.8 MM in Idaho unclaimed property reverts to state on July 1, 2008
• North Carolina Court of Appeals rules state may keep interest earned on unclaimed property held in custody
• US Supreme Court says it will not hear escheat case: Arnett v. Combs  | more info on the case
• Tulsa woman claims nearly $1 Million in unclaimed property from state
• U.S. Virgin Islands updates its unclaimed property statute |  law blog discussion
• Co-conspirator #2 pleads guilty in Delaware stolen unclaimed property case
• CNN.com unclaimed property article
• State audit report identifies weak controls in Connecticut Unclaimed Property Divison
• Sharper Image flip-flop: company says it will now honor gift cards (with unique conditions)
• 8 State Attorneys General challenge the Sharper Image flim-flam
• Delaware Auditor says the state's Division of Revenue "dropped the ball" in stolen money case
  
• Delaware escheat scandal highlights lack of internal controls
• Wall Street Journal unclaimed property article [02/04/08]
  
• California Controller John Chiang comments on audit of state-employed contract auditors

                        View the independent auditor results:  ASUS  |  ACS

• Ontario, Canada enacts stringent gift card regulations
• Maine not collecting as expected on its gift card law
• Profile of Texas Unclaimed Property Manager |  Sample Audit Procedures for unclaimed property
• California ordered to pay interest on seized assets
• Delaware estimates $369 MM in abandoned property collections for the next fiscal year - still #3 revenue source for state
• How much unclaimed property do the states have in their possession? 

                        Nebraska $85 Million  |  Oklahoma $175 Million  |  Kansas $200 Million  |  Oregon $220 Million  |  New Jersey $88 Million

                        Vermont $42 Million | Alabama $370 Million | Hawaii $130 Million | Minnesota $300 Million  |  Texas $1.5 BILLION

                        Florida >$1 BILLION   |  Missouri >$400 Million  |  Colorado $300 Million

• Interesting fiscal note from Montana gift card legislation (proof of the 1995 Delaware deal; see "Long Range Impacts")
• New Hampshire loses appeal in Federal Circuit Court in Simon Property Group gift card case
  

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