ATLANTA — Legislation aimed at helping Georgians recover an estimated $3 billion in unclaimed property held by the state has cleared both chambers of the General Assembly unanimously, sponsors said.
Senate Bill 403 would create an “exact match” program intended to make it easier for people to identify and claim money owed to them, including old utility deposits. The bill also updates state law to clarify that property would not be treated as abandoned when the apparent owner has shown interest in an account, such as by directing activity or making changes.
The measure includes provisions to streamline claims for heirs of deceased owners. In certain cases, it would eliminate the need for a probate court order and instead allow heirs to submit an affidavit signed by all heirs, as long as the total value of the unclaimed property held by the Georgia Department of Revenue does not exceed $7,500.
State Rep. Matt Reeves, R-Duluth, and state Sen. Kay Kirkpatrick, R-Marietta, said the bill is designed as a consumer protection measure. Reeves encouraged residents to search for unclaimed property through the Georgia Department of Revenue’s website.
The bill has been sent back to the Senate for consideration of amendments made by the House.
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