Update on KAPT Lawsuit

State Treasurer Jonathan Miller updates us on the lawsuit.

However, regardless of the outcome of this remaining dispute, should the Court agree with all parties on the unconstitutionality of the unclaimed property repeal, our KAPT investments would once again - and forever more – be protected and backed by unclaimed property.

I am very grateful to Finance Secretary Robbie Rudolph for this decision. I am especially grateful to Deputy Finance Secretary John Farris, who voted as a member of the KAPT board for the original unclaimed property transfer, and who I imagine was influential in Finance reversing course. But most of all, I am grateful to Attorney General Greg Stumbo, whose dogged pursuit of the full contract rights of KAPT families has placed victory within our grasp.

Of course, as Yogi Berra so eloquently stated, it ain't over 'till it's over. Someone could still intervene, or the court could reach a different decision. But Finance's reversal on this crucial, central issue is a strong signal that KAPT is back on the bipartisan course originally charted at its inception. It means that all of the emails, letters and phone calls made by KAPT families were heard. And most importantly, it is a strong indication that our KAPT contracts will be fully honored in the end.

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