Senate Bill 403
By: Senators Kirkpatrick of the 32nd, Walker III of the 20th, Anavitarte of the 31st, Parent
of the 44th, Albers of the 56th and others
AS PASSED
A BILL TO BE ENTITLED
AN ACT
To amend Article 5 of Chapter 12 of Title 44 of the Official Code of Georgia Annotated,
relating to disposition of unclaimed property, so as to authorize delay of publication of notice
on the "Georgia Unclaimed Property List" under certain circumstances; to provide for
methods of payment of claims; to provide for payments in the absence of claims; to waive
the requirement of a probate court order for claims of heirs under certain circumstances; to
provide for definitions; to amend Title 48 of the Official Code of Georgia Annotated, relating
to revenue and taxation, so as to waive confidentiality of certain tax records; to provide for
related matters; to repeal conflicting laws; and for other purposes.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION 1.
Article 5 of Chapter 12 of Title 44 of the Official Code of Georgia Annotated, relating to
disposition of unclaimed property, is amended in Code Section 44-12-192, relating to
definitions, by revising paragraph (6) and adding new paragraphs to read as follows:
<ins>"(0.5) 'Adult' means an individual 18 years of age or older."
</ins> "(6) 'Due diligence' means, but shall not be limited to, the mailing of a letter by first-class
mail to the last known address of the owner as indicated on the records of the holder. <ins>If
</ins>
<ins>a holder maintains a valid email address for the owner and the owner has agreed to
receive communications electronically, the holder shall send notice by both first-class
mail and electronic mail to such address. For properties over $10,000.00, mailed letters
shall be sent by certified mail."
"(7.1) 'Heir' means an adult who is the:
(A) Surviving spouse of a deceased owner;
(B) Child of a deceased owner;
(C) Parent of a deceased owner; or
(D) Sibling of a deceased owner."
</ins> SECTION 2.
Said article is further amended in Code Section 44-12-215, relating to publication of
"Georgia Unclaimed Property List" and contents of notice, by adding a new subsection to
read as follows:
<ins>"(e) When certain intangible interests in business associations, including, but not limited
to, stocks and shares in business associations, are not yet received by the commissioner but
are reported under Code Section 44-12-214, the commissioner may decline to publish
notice until such property is remitted to the commissioner."
</ins> SECTION 3.
Said article is further amended in Code Section 44-12-220, relating to claims for property
paid or delivered to commissioner and procedure, by revising subsection (c) and adding new
subsections to read as follows:
"(c)(1) If a claim submitted by the claimant is approved, the commissioner shall pay over
or deliver to the claimant the property or the amount the commissioner actually received
or the net proceeds if it has been sold by the commissioner.
<ins>(2) Any payment made under paragraph (1) of this subsection to a claimant shall be
either electronically transmitted or sent by check to such claimant, provided that such
payment shall first be credited against any unpaid state tax liability at the time the
payment provided for in this subsection is to be issued to a claimant."
"(d.1)(1) The commissioner shall also be authorized to make payments pursuant to this
article without having received a claim, provided that the:
(A) Property is cash;
(B) Apparent owner is a natural person and is the sole owner of such property;
(C) Identity of such apparent owner has been verified by the commissioner; and
(D) Amount to be paid does not exceed $500.00 per property.
(2) Any payment under this subsection to an owner shall be either electronically
transmitted or sent by check to such owner, based on the owner's taxpayer refund
instructions, if any, as indicated on such taxpayer's income tax return for the most recent
taxable year, provided that such payment shall first be credited against any unpaid state
tax liability existing at the time the payment provided for in this subsection is to be issued
to an owner.
(3) The department may review tax records in order to verify the identity of owners in
accordance with subparagraph (C) of paragraph (1) of this subsection.
(4) All unclaimed property purchase agreements and unclaimed property recovery
agreements entered into on or after July 1, 2026, and reported and delivered to the
commissioner under this article shall be unenforceable for 120 days after the date of
payment or the delivery of property to the commissioner."
"(i)(1) An order of a probate court shall not be required for a claimant who is an heir of
a deceased owner if the claimant files an affidavit with the department, signed by all
heirs, stating that all heirs have amicably agreed upon a division of the estate and that all
funeral expenses, expenses of any last illness, and other lawful claims against the estate
have been paid. Such affidavit shall include any additional information reasonably
</ins>
<ins>necessary to determine entitlement. If the owner died testate, the claim shall be
accompanied by a copy of the will.
(2) Each person receiving property under this Code section shall be personally liable for
all lawful claims against the estate of the owner, but only to the extent of the value of the
property received under this Code section, excluding property exempt from claims of
creditors under the Constitution and laws of this state.
(3) Any person who was lawfully entitled to share in the property but did not receive his
or her share may enforce his or her rights in appropriate proceedings against those who
received the property and may, at the discretion of the court, be awarded costs and
reasonable attorney's fees.
(4) This subsection applies only if the total aggregate value of unclaimed property held
by the department on behalf of the owner is equal to or less than $7,500.00 and no
proceeding in any probate court in Georgia is pending or has been filed in Georgia in the
past."
</ins> SECTION 4.
Title 48 of the Official Code of Georgia Annotated, relating to revenue and taxation, is
amended in Article 1 of Chapter 2, relating to state administrative organization, by revising
subsection (b) of Code Section 48-2-15, relating to confidential and privileged information,
as follows:
"(b) This Code section shall not:
(1) Be construed to prevent the use of confidential information as evidence before any
state or federal court in the event of litigation involving tax liability of any taxpayer;
(2) Be deemed to prevent the print or electronic publication of statistics so arranged as
not to reveal information respecting an individual taxpayer;
(3) Apply in any way whatsoever to any official finding of the commissioner with
respect to any assessment or any information properly entered upon an assessment roll
or other public record;
(4) Affect any information which in the regular course of business is by law made the
subject matter of a public document in any federal or state office or in any local office in
this state;
(5) Apply to information, records, and reports required and obtained under Article 1 of
Chapter 9 of this title, which requires distributors of motor fuels to make reports of the
amounts of motor fuels sold and used in each county by the distributor, or under Article 2
of Chapter 9 of this title, relating to road tax on motor carriers;
(6) Be construed to prevent the disclosure of information, so arranged as not to reveal
information respecting an individual taxpayer, requested by the House Committee on
Ways and Means or the Senate Finance Committee regarding the department's
administration of any tax; <del>or
</del> (7) Apply to information, records, and reports required and obtained under Title 38 or
Title 46 as each pertains to collection and remittance of prepaid and postpaid 9-1-1 fees
or charges. The application of the exemption provided for under this paragraph to Code
Section 38-3-190 shall apply exclusively to the Georgia Emergency Communications
Authority and Department of Revenue in the handling of such information; <ins>or
(8) Be construed to prevent the use of confidential tax information by the department in
administering the provisions of Code Section 44-12-220."
</ins> SECTION 5.
Said title is further amended in Article 3 of Chapter 7, relating to returns and furnishing of
information, in Code Section 48-7-60, relating to confidentiality of tax information,
exceptions, authorized inspection by certain officials, furnishing information to local tax
authorities, furnishing information to nonofficials, conditions, and effect of Code section, by
adding a new subsection to read as follows:
<ins>"(f) This Code section shall not be construed to prevent the use of confidential tax
information by the department in administering the provisions of Code Section 44-12-220."
</ins> SECTION 6.
All laws and parts of laws in conflict with this Act are repealed.