SB403: SB403 Unclaimed Property; property is presumed abandoned; provide for exceptions

Georgia holds unclaimed property, like forgotten bank accounts or uncashed checks, until owners come forward to claim it. This bill changes several rules in that system. It updates the definition of 'due diligence' for notifying owners, requiring certified mail for properties worth more than $10,000 and email notice when available. It lets the state Commissioner delay publishing certain business stock or share holdings on the public unclaimed property list until the property itself is actually turned over. The bill also allows the Department of Revenue to pay out small claims, up to $500 in cash, to a verified individual owner without that person filing a claim first. It waives the usual requirement for a probate court order when heirs (spouses, children, parents, or siblings) file a signed affidavit agreeing on how to divide an estate, as long as the property is worth $7,500 or less and no probate case is pending. It also allows the department to use otherwise confidential tax records to verify who owns unclaimed property.

• Requires certified mail notice for unclaimed property owners when the property is worth more than $10,000, plus email notice if the holder has a valid address.
• Lets the Commissioner delay listing certain unreceived business stock or share interests on the public unclaimed property list until the property is actually delivered.
• Allows the department to pay up to $500 in unclaimed cash directly to a verified individual owner without requiring that person to file a claim.
• Waives the requirement for a probate court order for heirs claiming property worth $7,500 or less if all heirs sign an affidavit agreeing on the division of the estate.
• Allows the Department of Revenue to review otherwise confidential tax records to verify the identity of unclaimed property owners.
• Makes certain unclaimed property recovery agreements signed after July 1, 2026 unenforceable for 120 days after payment or delivery to the commissioner.

Georgians with unclaimed bank accounts, checks, stocks, or other forgotten property; heirs settling small estates; businesses that hold and report unclaimed property to the state; and the Department of Revenue, which administers the unclaimed property program and now gains access to certain tax records.

Some owners could get small unclaimed payments automatically instead of having to file a claim, and heirs of modest estates could skip a probate court order. Property owners with larger unclaimed amounts would see stricter mail notice rules meant to make sure they are actually informed.

• Section 1 amends O.C.G.A. 44-12-192 to define 'adult' and 'heir' and to require certified mail plus email notice for properties over $10,000.
• Section 2 amends O.C.G.A. 44-12-215 to let the Commissioner delay public listing of certain business stock interests until the property is delivered.
• Section 3 amends O.C.G.A. 44-12-220 to allow electronic or check payment of approved claims, credited first against unpaid state tax debt.
• Section 3 also creates a process for the department to pay up to $500 in cash to a verified owner without a filed claim, and voids certain recovery agreements for 120 days.
• Section 3 waives the probate court order requirement for heirs of estates worth $7,500 or less if all heirs sign an agreed affidavit and no probate case is pending.
• Sections 4 and 5 amend O.C.G.A. 48-2-15 and 48-7-60 to let the department 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 estates
• state tax records
• consumer protection