arrow_back Back to App

States to Recover Unclaimed Savings Bonds for Citizens

This act aims to help states recover billions of dollars in unclaimed savings bonds. States can then use these funds for public services, while also providing a clear path for original owners to reclaim their money if they come forward.
Key points
States can now take ownership of and redeem abandoned savings bonds.
The U.S. Treasury will provide states with necessary information to facilitate bond redemption.
If an original owner comes forward, the state must pay them according to its abandoned property laws.
The law applies to bonds that matured by December 31, 2017, and remain unredeemed.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_S_2854
Sponsor: Sen. Kennedy, John [R-LA]
Process start date: 2021-09-27
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Unclaimed Savings Bond Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_2854.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-09-27.

What are the main provisions?

Key points include:

  • States can now take ownership of and redeem abandoned savings bonds.
  • The U.S. Treasury will provide states with necessary information to facilitate bond redemption.
  • If an original owner comes forward, the state must pay them according to its abandoned property laws.
  • The law applies to bonds that matured by December 31, 2017, and remain unredeemed.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Kennedy, John [R-LA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Economy Courts and Law Public Investments