SB 403: Unclaimed Property; property is presumed abandoned; provide for exceptions

Georgia's unclaimed property law lets the state hold onto money and property that owners never claim, listed on the Georgia Unclaimed Property List. This bill changes several parts of that system. It lets the state Commissioner delay publishing notice about certain business stock holdings until the property itself is actually turned over to the state. It creates a new option for the state to pay out unclaimed cash of $500 or less automatically, without waiting for a claim, as long as the owner is a single natural person whose identity has been verified, and any such payment is first applied against unpaid state taxes. The bill also lets heirs skip getting a probate court order to claim a deceased owner's unclaimed property, as long as all heirs sign an affidavit agreeing on how to divide it, funeral and estate debts are paid, and the total unclaimed property is $7,500 or less with no pending probate case. It updates the definition of 'due diligence' notice to include email in some cases and lets the Department of Revenue share otherwise confidential tax records to verify identities under this law.

• Lets the Commissioner delay publishing notice on the Georgia Unclaimed Property List for certain business stock holdings until the property is actually delivered to the state.
• Creates a new definition of 'adult' (18 or older) and 'heir' (spouse, child, parent, or sibling of a deceased owner) for unclaimed property claims.
• Allows the state to pay out unclaimed cash of $500 or less to a verified individual owner without requiring that person to file a claim first.
• Requires that any unclaimed property payment be applied first against the recipient's unpaid state tax debt before being sent to them.
• Waives the requirement for a probate court order when heirs jointly claim $7,500 or less in unclaimed property, if they sign an affidavit agreeing on the division and confirming debts are paid.
• Allows the Department of Revenue to share otherwise confidential tax records with itself to verify identities of owners and heirs under the unclaimed property law.

People who have unclaimed money or property listed with the Georgia Department of Revenue, especially heirs settling a deceased relative's small estate, individuals owed small cash amounts, holders of stock and business shares reported to the state, and anyone with unpaid state tax debt who is due an unclaimed property payment.

Heirs of small estates could get unclaimed property faster and cheaper without hiring a lawyer for probate court, and some Georgians could receive small unclaimed payments automatically. But anyone owing back state taxes would see that debt deducted first, and some stock listings could take longer to appear publicly.

• Section 1 amends O.C.G.A. § 44-12-192 to define 'adult' and 'heir,' and updates 'due diligence' notice rules to require email plus mail when available, and certified mail for amounts over $10,000.
• Section 2 amends O.C.G.A. § 44-12-215 to let the Commissioner delay publishing notice on business stock holdings until the property is actually remitted to the state.
• Section 3 amends O.C.G.A. § 44-12-220 to allow claim payments by check or electronic transfer, credited first against unpaid state tax debt, and to allow payments up to $500 without a claim for verified individual owners.
• Section 3 also waives the probate court order requirement for heirs claiming $7,500 or less in unclaimed property if all heirs sign an affidavit and no probate case is pending.
• Section 3 makes unclaimed property purchase and recovery agreements signed after July 1, 2026 unenforceable for 120 days after payment or delivery.
• Sections 4 and 5 amend O.C.G.A. §§ 48-2-15 and 48-7-60 to let the Department of Revenue use otherwise confidential tax records to administer the unclaimed property claims process.

1. 2026-05-05Effective Date 2026-07-01
2. 2026-05-05Act 410
3. 2026-05-05Senate Date Signed by Governor (Senate)
4. 2026-04-10Senate Sent to Governor (Senate)
5. 2026-03-31Senate Agreed House Amend or Sub (Senate)
6. 2026-03-27House Passed/Adopted By Substitute (House)
7. 2026-03-27House Third Readers (House)
8. 2026-03-25House Committee Favorably Reported By Substitute (House)

• Kay Kirkpatrick (R, SD-032)Primary sponsor
• Larry Walker (R, SD-020)
• Jason Anavitarte (R, SD-031)
• Elena Parent (D, SD-044)
• John Albers (R, SD-056)
• Lee Anderson (R, SD-024)
• Billy Hickman (R, SD-004)
• Clint Dixon (R, SD-045)
• Randy Robertson (R, SD-029)
• Shawn Still (R, SD-048)
• Carden Summers (R, SD-013)
• Ben Watson (R, SD-001)
• Bo Hatchett (R, SD-050)
• Chuck Hufstetler (R, SD-052)
• Chuck Payne (R, SD-054)
• Drew Echols (R, SD-049)
• Jason T. Dickerson (R, SD-021)
• Max Burns (R, SD-023)
• Ricky Williams (R, SD-025)
• Mike Hodges (R, SD-003)
• Matt Brass (R, SD-006)
• Ed Setzler (R, SD-037)
• Timothy Bearden (R, SD-030)
• Ed Harbison (D, SD-015)
• Sonya Halpern (D, SD-039)
• Sally Harrell (D, SD-040)
• Marty Harbin (R, SD-016)
• Russ Goodman (R, SD-008)
• Sam Watson (R, SD-011)
• Nan Orrock (D, SD-036)
• Brian Strickland (R, SD-042)
• Matt Reeves (R, HD-099)

1. PassedSenate voteFebruary 5, 2026

   29 yea, 20 nay (1 not voting, 4 absent)

   Motion To Engross: Sb 403, Hb 414: Senate Vote #518

2. PassedSenate voteFebruary 5, 2026

   50 yea, 0 nay (0 not voting, 4 absent)

   Passage By Substitute: Senate Vote #520

3. PassedHouse voteMarch 27, 2026

   158 yea, 0 nay (3 not voting, 15 absent)

   Passage: House Vote #785

4. PassedSenate voteMarch 31, 2026

   49 yea, 0 nay (1 not voting, 4 absent)

   Agree To House Substitute: Senate Vote #915

• unclaimed property
• probate and inheritance
• state tax records
• consumer protection