It might come as a surprise, but even state agencies and institutions of higher education in Texas can have unclaimed property held by the state. This property, often in the form of funds, is turned over to the Texas Comptroller’s office. If it remains unclaimed, these funds are eventually deposited into the state’s General Revenue.
To prevent this and ensure that state entities receive the money that belongs to them, it’s crucial to understand the process of searching for and claiming unclaimed property in Texas. This guide will walk you through everything you need to know to recover unclaimed funds for your Texas state agency or institution.
Is There Unclaimed Money for Your Texas State Agency?
The State of Texas holds a significant amount of unclaimed property, and a portion of it could rightfully belong to state agencies or higher education institutions. These unclaimed funds can arise from various sources, such as:
- Uncashed checks
- Overpayments
- Royalties
- Mineral proceeds
- Dormant bank accounts
The Texas Comptroller’s office acts as the custodian of this unclaimed property, aiming to reunite it with its rightful owners. However, if these assets are not claimed, they risk being swept into the unappropriated General Revenue of the State.
How to Search for Unclaimed Money in Texas
The first step in recovering unclaimed funds is to actively search the state’s unclaimed property database. The Comptroller’s office provides a user-friendly online tool at ClaimItTexas.gov specifically designed for this purpose.
When searching for unclaimed property for your agency or institution, keep these tips in mind to maximize your search effectiveness:
- Vary Your Search Terms: The database records property based on how it was reported, which may not always match the official agency name. Try different variations of your agency or institution’s name.
- Include Past Names: If your agency has undergone name changes, search using previous names. For example, search “Texas Employment Commission” if you are now the “Texas Workforce Commission.”
- Use Acronyms and Unofficial Names: Incorporate common acronyms (like “Texas DPS” for “Texas Department of Public Safety”) and unofficial names (such as “Highway Department” for “Texas Department of Transportation”) in your searches.
- Regularly Conduct Searches: Make it a routine to search ClaimItTexas.gov periodically to ensure you don’t miss any newly reported unclaimed property.
Claiming Unclaimed Property for Texas Agencies
Once you identify unclaimed property belonging to your agency or institution, the next step is to initiate a claim. Act promptly, as there is a deadline. If the property remains unclaimed by May 31, 2025, the funds will be deposited into the unappropriated General Revenue (GR).
To claim your property, contact the Unclaimed Property Division directly:
- Email: [email protected]
- Phone: (800) 321-2274, select option 1, then 3
When you reach out, be prepared to:
- Provide contact information for your agency or institution’s financial representative.
- If applicable, provide documentation proving that the original source of the funds was a General Revenue-Dedicated (GR-D) account or a special fund outside of the General Revenue. This documentation is crucial if you want the property to be returned to its original fund, which may then be subject to future appropriation. The responsibility to establish the original source of funds lies with the claiming entity.
Don’t Let Unclaimed Money Go to General Revenue
Unclaimed property held by the State of Texas could be rightfully yours. By taking proactive steps to search ClaimItTexas.gov and understanding the claims process, Texas state agencies and institutions of higher education can recover funds that belong to them. Ensure your agency claims any unclaimed money before the May 31, 2025 deadline to avoid losing these assets to the state’s General Revenue.
Legal Citation: Property Code Section 74.601 (g)
