The crooked “Protecting Consumers” Bill of Illinois
Thanks to Publius’ Forum pointing this one out!
The Illinois thugs are at it again. This time they’re pitching a bill designed to give the appearance of protecting consumers from having to pay finders fees to private business that might be, according to the government thugs, a little too high. The finders fees are for services that help unite Illinois residents with unclaimed property that they might not have known existed.
The bill caps the amount the business can charge for providing such a service, because the government feels these private companies are out of line by charging so much. The truth of the matter is, the government doesn’t like that business are making it easier and faster for Americans to obtain their property. In other words… the government doesn’t get to keep it.
Shameful.
My favorite quote from Publius’ Forum’s post:
In other words Illinois State Treasurer Alexi Giannoulias is trying to make sure FEWER Illinoisans find out that the state owes them money with enough notice before that 5-year time limit runs out.
This bill should have a better title than the “protecting consumers” bill. It should be more like the “keeping taxpayers ignorant” bill.
Kati Says:
I’d like to point out an inaccuracy in your entry. The state does not have a 5 year limit. The state holds property forever. If a person doesn’t claim their property, it is held for an heir. It is county governments that have the 5 year limit on property tax overpayments. Owners of property tax overpayments are a small portion of the consumers protected by this bill.
Posted on April 1st, 2008 at 6:28 pm
Eric Odom Says:
Kati, good point. You might, however, want to comment on the actual source.
Posted on April 2nd, 2008 at 8:39 am
Troy Camplin Says:
If they cap what people charge, that will create a disincentive for people to offer such services. Still, when I get such offers in the mail, I get the feeling that there’s some sort of scam going on.
Personally, I’d prefer there be a law passed that says that after 5 years the government has to locate the people the property goes to and offer them their property.
Troy Camplin’s last blog post..Making Up Rights
Posted on April 2nd, 2008 at 2:03 pm