News + Notes

What do you think? Louisiana Constitutional Amendment #7 — Creating a trust fund for unclaimed property

There are seven constitutional amendments on the Nov. 3 ballot. Those items are often overlooked in a general election, all the more so during a hotly contested presidential contest.

All the way up to Election Day, we’ll be asking readers to sound off on the amendments. You can check out our cheat sheet guide to all seven here.

Amendment #7 on the Nov. 3 ballot, would create a trust fund for unclaimed property. Currently, money unclaimed by taxpayers is pulled into the general fund to pay for government services. For decades, Louisiana has collected more unclaimed money than it pays out, though the gap is shrinking. The proposal would roll the unclaimed money into a trust fund as investment principal. Gains on those investments would pay into the state general fund, but the principal would remain available to pay claims. The plan is the result of a compromise between the governor and Louisiana’s treasurer.

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