TENNESSEE — The Unclaimed Property Administration (UPA) of the New Jersey Department of the Treasury announced a $3.9 million commitment on National Unclaimed Property Day to support low- and moderate-income New Jersey households who are having trouble paying their utility bills.
The payment assistance for gas and electric (PAGE) programme contribution is presented annually to the Affordable Housing Alliance (AHA).
State Treasurer Elizabeth Maher Muoio stated, “As we move through winter, it is especially vital for homeowners to be able to keep their lights on and their heat on.” “As always, I am proud of what our Unclaimed Property Administration has accomplished.
It is amazing to see their efforts continue to help with utility expenses considering how hard they work all year to link New Jersey citizens with their property.
One in ten Americans, or close to 33 million people, have unclaimed property, such as bank accounts or valuable objects where the owner hasn’t done anything for a while. When that occurs and the business is unable to contact the owner, the funds or assets are turned over to the state.
Typical instances include unused rebate cards, neglected bank accounts, underpaid utility deposits, and unclaimed life insurance benefits. To find out if a state is holding their property, Treasury advises all New Jersey residents to search www.unclaimedproperty.nj.gov or www.unclaimed.org. People are urged to conduct a name, maiden name, business name, or nonprofit name search. The lookup is uncharged.
According to state law, the Unclaimed Utility Deposits Trust Fund receives all money deposited in unclaimed property deposits from electric and gas utilities. Each year, the Board of Public Utilities designates a statewide non-profit energy assistance group to receive 75% of the deposits received.
According to UPA Administrator Steve Harris, “We are happy to see these money going to households in need.” “We are delighted to make a difference in the lives of our fellow New Jerseyans,” the company said. “Utility expenditures are a big source of stress, especially during the winter.”
The New Jersey Board of Public Utilities (NJBPU) supports PAGE and other nonprofit aid organisations’ efforts and provides a winter termination programme.
According to Joseph L. Fiordaliso, president of the New Jersey Board of Public Utilities, “The NJBPU is committed to ensuring that all residents have safe and dependable utility service.”
We are appreciative of our colleagues at the New Jersey Treasury Department for their ongoing support of this vital programme, which assists tens of thousands of individuals year and is financed by the Unclaimed Property Administration.
“The Payment Assistance for Gas and Electric programme continues to be a crucial component of the state’s support system as we try to address all of the external sources of stress for New Jersey’s communities.
According to Randi Moore, CEO of AHA, “Over 7,500 applications were approved and nearly $3.9 million in grants were given out over the course of the past year thanks in part to the support of the Department of the Treasury’s Unclaimed Property Administration for the PAGE programme, which aids low- to moderate-income people and families in paying their electric and natural gas bills. “This program’s contribution to good transformation is more important than ever.
Making home energy expenses more reasonable enables residents to better address life’s more urgent issues as we work to create a more fair state. We appreciate the Unclaimed Property Administration of the Department of the Treasury’s dedication to supporting initiatives like the PAGE programme.
According to state law, the monies must only be used to cover costs related to restoring gas or electric service or to stop the termination of gas or electric service granted to utility subscribers seeking energy assistance.
The State Treasurer manages and invests the remaining sum, which is kept in the trust fund and used to cover State of New Jersey bills and expenses as well as claims for unclaimed property.
For more than 24 years, people of New Jersey have received housing assistance and other associated relief from The Affordable Housing Alliance (AHA), a private, nonprofit 501(c)(3) corporation with headquarters in New Jersey.
The Alliance administers a number of utility assistance programmes, such as PAGE and LIHEAP, which provide support to low- and moderate-income people and families who are struggling to pay their gas, electric, and oil bills.