Bill to make it easier for Georgians to claim unclaimed money clears another hurdle

Georgia lawmakers have unanimously approved a bill aimed at making it easier for residents to claim unclaimed money held by the state.

Senate Bill 403 passed both chambers of the Georgia General Assembly with bipartisan support. The measure cleared the Senate in February and was later passed by the House on March 27, with a small number of lawmakers not voting or absent.

The bill, sponsored by state Rep. Matt Reeves, R-Duluth, and state Sen. Kay Kirkpatrick, R-Marietta, is designed to simplify the process for Georgians trying to recover unclaimed property, such as old utility deposits or forgotten accounts.

Lawmakers say the legislation creates an "exact match" system to help identify rightful owners and return money more efficiently.

"SB 403 would implement an exact match program, making it easier for Georgians to recover the money they are entitled to," Reeves said in a statement.

The bill also updates state law to clarify that property is not considered abandoned if the owner has shown recent activity or interest in the account.

In addition, SB 403 makes it easier for families to claim money belonging to a deceased relative. In certain cases, heirs will no longer need a probate court order if the total value of the property is $7,500 or less. Instead, heirs can submit a signed affidavit agreeing on how the assets should be divided.

The changes are meant to remove barriers and speed up the process for families.

"SB 403 is a great step for helping Georgians find and retrieve unclaimed property held by the state," Kirkpatrick said.

The bill also allows the state to issue payments electronically or by check and, in some cases, return smaller amounts of money, up to $500, without requiring a claim to be filed.

SB 403 has now been sent back to the Senate for final consideration of changes made by the House before it can head to the governor's desk.