Texas Comptroller Don Huffines is urging Texans to search the state’s unclaimed property database, which holds more than $12.5 billion awaiting return to its owners, as the Comptroller’s office begins modernizing the program with artificial intelligence and new software, according to an Oct. 30 news release.
The agency said the effort marks the first time artificial intelligence has been brought into the claims process. The release said the new tools are intended to get money back to Texans faster.
“This money belongs to those who earned it, not the state,” Huffines said in the release. “We’re pushing hard to reunite people with their money as quickly as possible, and I want every Texan to know how easy it is to check if they have funds waiting for them.”
Under Huffines’ direction, the agency has restructured its Unclaimed Property Division, the release said. Since Aug. 1, when he took office, the agency has processed 107,405 claims, which the Comptroller’s office described as a 40 percent increase over the same period last year. The agency said additional details about the modernization effort will be announced in the coming weeks.
“Texans should not have to wait for money that is already theirs,” Huffines said. “For the first time in decades, we are cleaning out the garage, and this is just the start. We will have more to announce soon.”
Unclaimed property can include forgotten bank accounts, uncashed checks, utility deposits, insurance proceeds, payroll checks and abandoned safe-deposit box contents, according to the release. The agency said Texas law requires financial institutions and businesses to turn over inactive accounts after a set period so the Comptroller’s office can safeguard the funds until the rightful owner files a claim.
The Comptroller’s office said there is generally no statute of limitations for unclaimed property the state holds, meaning owners can file a claim at any time. Texans can search for property and begin the claims process at ClaimItTexas.gov or by calling 800-321-2274 (CASH).