Governor Sues State Treasurer Over ‘People’s Money’ [VIDEO]
Louisiana State Treasurer John Schroder talks with 101.7 / 710 KEEL's Robert J Wright and Erin McCarty about a lawsuit filed by Governor John Bel Edwards, a suit to get control of the $78 million in the unclaimed property fund.
The Governor wants Schroder to turn over to the money, made up cash from neglected bank accounts, retirement accounts and other assets that are eventually taken over by the state. Edwards wants the millions to become part of the state's general fund, so it can be spent as part of the state budget.
Last year Schroder denied the Governor's request for the money, refusing to turn it over He again refused to turn over the funds for the 2020 budget, saying his decision was based on the fact that the money does not belong to the state.