Why lawmakers have been eyeing Colorado's $2B in ‘unclaimed property’

There’s a secure room in the State Capitol filled with the lost treasures of generations of Coloradans: baseball cards, war medals, even a large yellow diamond ring. Unclaimed property that has come into the custody of the state over the decades. 

All told, Colorado holds around $2 billion in unclaimed assets, some physical, but even more in the form of abandoned accounts, uncashed checks and overlooked tax refunds. Colorado’s Treasury Department is tasked with returning assets to their rightful owners. But the fund is also an attractive target for lawmakers looking to pay programs in the face of a cash-strapped state budget.

CPR’s Bente Birkeland and CPR's Stephanie Wolf look at how the fund is intended to work, what it takes to reclaim property and why lawmakers dipping into it can be a messy situation. 

Purplish is produced by CPR News and the Capitol News Alliance, a collaboration between KUNC News, Colorado Public Radio, Rocky Mountain PBS, and The Colorado Sun, and shared with Rocky Mountain Community Radio and other news organizations across the state. Funding for the Alliance is provided in part by the Corporation for Public Broadcasting.

This episode was edited by Megan Verlee and sound designed and engineered by Shane Rumsey. Our theme music is by Brad Turner.