Texas is holding more than $12.5 billion in forgotten money, and the comptroller is adding AI to speed up claims

The state comptroller's office says it is sitting on more than $12.5 billion that belongs to Texans, and it wants people to go looking for their share.

Comptroller Don Huffines announced Friday that his office has started overhauling the unclaimed property program, adding new software and, for the first time, artificial intelligence to the claims process. The goal is to return money faster, according to the agency's release.

"This money belongs to those who earned it, not the state," Huffines said.

What counts as unclaimed property

Under Texas law, banks and businesses must hand over accounts that have gone inactive for a set period. The comptroller holds the money until its owner comes forward.

The agency lists forgotten bank accounts, uncashed checks, utility deposits, insurance proceeds, payroll checks and the contents of abandoned safe-deposit boxes as examples.

There is generally no deadline to file. The comptroller says owners can make a claim at any time because there is generally no statute of limitations on property the state holds.

How to check

Residents can search by name at ClaimItTexas.gov, which is also where claims begin, or call 800-321-2274.

Claims are up

The comptroller's office says it has restructured its Unclaimed Property Division since Huffines took office Aug. 1. In that time it has processed 107,405 claims, 40% more than in the same stretch last year.

"For the first time in decades, we are cleaning out the garage, and this is just the start," Huffines said. The agency said more details on the changes will come in the next few weeks.

Sources

State of Texas

claimittexas.gov