Edwards Takes Treasurer to Court Over Blocked Fund Transfer
Gov. John Bel Edwards is suing Louisiana's state treasurer for blocking a $25 million fund transfer the governor and lawmakers earmarked for state operating expenses. The Democratic governor is asking a judge to declare Republican state Treasurer John Schroder's actions illegal.
Schroder has refused to shift the $25 million from Louisiana's unclaimed property account this budget year and he blocked a $15 million transfer last year. The fund includes unclaimed money Louisiana collects from things such as old savings accounts, payroll checks and utility deposits on behalf of residents.
The treasurer's office tries to locate people and return the money. Governors and lawmakers for decades have spent unclaimed property money on programs and services.
(Story written by By MELINDA DESLATTE/AP)