GeorgiaSB 4032025-2026 Regular SessionSenateWALLET

Unclaimed Property; property is presumed abandoned; provide for exceptions

Sponsored By: John Albers (Republican), Jason Anavitarte (Republican), Lee Anderson (Republican), Timothy Bearden (Republican), Matt Brass (Republican), Max Burns (Republican), Jason T. Dickerson (Republican), Clint Dixon (Republican), Drew Echols (Republican), Russ Goodman (Republican), Sonya Halpern (Democrat), Marty Harbin (Republican), Ed Harbison (Democrat), Sally Harrell (Democrat), Bo Hatchett (Republican), Billy Hickman (Republican), Mike Hodges (Republican), Chuck Hufstetler (Republican), Kay Kirkpatrick (Republican), Nan Orrock (Democrat), Elena Parent (Democrat), Chuck Payne (Republican), Randy Robertson (Republican), Ed Setzler (Republican), Shawn Still (Republican), Brian Strickland (Republican), Carden Summers (Republican), Larry Walker (Republican), Ben Watson (Republican), Sam Watson (Republican), Rick Williams (Republican)

Signed by Governor

JudiciaryFinanceGeneral Bill

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Bill Overview

Analyzed Economic Effects

5 provisions identified: 2 benefits, 1 costs, 2 mixed.

Easier payouts, but tax debts come first

Georgia may pay cash without a claim, up to $500 per property, to an individual whose identity is verified. The person must be the sole owner; payment is not guaranteed. These payments use electronic transfer or check and follow the owner's latest Georgia tax refund instructions, if any. Approved claims return the property the state received or, if sold, its net sale proceeds. Before issuing either type of payment, the state applies it to unpaid Georgia taxes; the owner receives any remainder. The Revenue Department may use confidential tax records to verify identity and handle unclaimed-property payments and tax offsets.

Heirs can claim small estates without probate

A surviving spouse, child, parent, or sibling age 18 or older can claim a deceased owner's property without a probate-court order. Georgia must hold no more than $7,500 total for that owner. No Georgia probate case can be pending or previously filed. All heirs must sign a sworn statement agreeing on the estate division and confirming payment of funeral, last-illness, and other lawful claims. They must provide information needed to show entitlement and attach the will if the owner left one. Recipients remain liable for lawful estate claims up to the value received, excluding property protected from creditors. Heirs denied their share can sue recipients and may recover court costs and reasonable attorney's fees.

More notices for unclaimed property owners

Businesses holding unclaimed property must notify owners by first-class mail. They must also email owners when they have a valid email address and the owner agreed to electronic communications. For property worth more than $10,000, the mailed notice must use certified mail.

Property owners get recovery-contract waiting period

The law sets a waiting period for unclaimed-property purchase and recovery agreements made on or after July 1, 2026. Covered agreements cannot be enforced for 120 days after the property is paid or delivered to Georgia's revenue commissioner. The agreement must be reported and the property delivered to the commissioner.

Stock owners may get public notices later

Georgia's revenue commissioner may delay public notices for certain reported business interests, such as stocks and shares. The commissioner may wait until the state receives the property. Owners may therefore learn about their unclaimed holdings later.

Sponsors & Cosponsors

Cosponsors

Matt Reeves
Republican • House

Roll Call Votes

All Roll Calls

Yes: 286 • No: 20

Senate vote • 3/31/2026

AGREE TO HOUSE SUBSTITUTE

Yes: 49 • No: 0 • Other: 3

House vote • 3/27/2026

PASSAGE

Yes: 158 • No: 0 • Other: 7

Senate vote • 2/5/2026

MOTION TO ENGROSS: SB 403, HB 414

Yes: 29 • No: 20 • Other: 3

Senate vote • 2/5/2026

PASSAGE BY SUBSTITUTE

Yes: 50 • No: 0 • Other: 2

Actions Timeline

Effective Date
7/1/2026
Senate Date Signed by Governor
5/5/2026Senate
Act 410
5/5/2026
Senate Sent to Governor
4/10/2026Senate
Senate Agreed House Amend or Sub
3/31/2026Senate
House Third Readers
3/27/2026House
House Passed/Adopted By Substitute
3/27/2026House
House Committee Favorably Reported By Substitute
3/25/2026House
House Second Readers
2/9/2026House
House First Readers
2/6/2026House
Senate Engrossed
2/5/2026Senate
Senate Third Read
2/5/2026Senate
Senate Passed/Adopted By Substitute
2/5/2026Senate
Senate Read Second Time
2/4/2026Senate
Senate Committee Favorably Reported By Substitute
2/3/2026Senate
Senate Read and Referred
1/16/2026Senate
Senate Hopper
1/15/2026Senate

Bill Text

SB 403/AP* (v9)
PDF

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