The Georgia General Assembly began the first session of its biennial when it was gaveled to order Monday of this week by House Speaker Jon Burns (R-Newington) and Lt. Gov. Burt Jones (R-Jackson) in his role as Senate President. In addition to having various organizational meetings, legislators heard Gov. Brian Kemp’s State of the State address on Thursday (more details about the address can be found below). The General Assembly will be in recess next week for Martin Luther King Jr., Day Monday and will hold budget hearings the rest of the week. Legislators will reconvene for regular business on Monday, Jan. 27. An adjournment resolution SR 6 was introduced and unanimously passed by the Senate this week. Crossover Day is now set for Thursday, March 6, and Sine Die is currently set for Friday, April 4.

On Thursday, Gov. Kemp addressed a joint session of the General Assembly to reflect on the state’s recent successes and outline his legislative priorities for 2025. Further reducing the individual tax rate—by another 20 basis points—to 5.19 percent was first on the list. After touting Georgia being named the number one state for doing business for the 11th consecutive year, Gov. Kemp noted the state’s current legal environment as the “biggest threat” to the future. The Gov. stated he plans to introduce a “comprehensive, but fair” tort reform package to address dramatic increases in insurance premiums and frivolous lawsuits that are preventing small businesses from growing and hiring workers. He also stated that “meaningful, impactful tort reform” would be achieved during this legislative session or in a second one later this year. Also included in the Gov.’s list of priorities was additional funding for school safety, mental health services, and the prevention of human trafficking. To reach the full address, click here.

Join the growing crowd -- reserve your spot for the Legislative & Economic Forum and Reception. We’re excited that Kevin Hagler, Commissioner of the Georgia Department of Banking and Finance, will kick off our program. James Beal, executive director, Georgians for Lawsuit Reform, and Dr. Robert Buschman, State Economist from the Governor’s Office of Planning and Budget, will also be a featured speakers for the afternoon. The reception immediately follows the Forum and is held to honor members of the General Assembly, Constitutional Officers, members of the Judiciary and other dignitaries. Our room block at the Ritz is sold out; click here for a list of suggested nearby hotels. A big thank-you to our event sponsors: thanks to our event sponsors: Presenting Sponsor: FHLBank Atlanta; Platinum Sponsor: BDS Yarmouth & Choate; Silver Sponsors: Elliott Davis, Point to Point Environmental and ServisFirst Bank. Contact GBA’s Kathy Friestad with questions.

Serving on a committee is one of the best ways for legislators to dive deeply into often complex ideas. Committees are relied upon to study and perfect legislation before reporting it for further consideration by a wider audience. We got our first look at the committees this week and thought you’d like to see who’s a House and Senate banking committee member. Rep. Noel Williams (R-Cordele) returns as chairman of the House Banks and Banking Committee, and Sen. Carden Summers (R-Cordele) returns as chairman of the Senate Banking and Financial Institutions Committee. Please join us in welcoming the returning and new members to these important committees.

House Banks and Banking Committee

Senate Banking and Financial Institutions Committee 

Department of Banking Housekeeping Bill. HB 15 by Rep. Bruce Williamson (R-Monroe) is the annual update to the language in Title 7 of the Official Code of Georgia related to all the entities regulated by the Georgia Department of Banking and Finance. Of interest to bankers are the provisions in this year’s bill regarding procedures for filing and publishing articles of incorporation for banks and trust companies and updated considerations for the Banking Department when evaluating bank holding companies. There are also modifications to the sections dealing with foreign banks and merchant acquirer limited purpose banks. The bill has been assigned to the House Banks & Banking Committee.

Be sure and set a web browser bookmark for the State Issues page on the GBA website to track details about specific bills during the session. We add bills as they are introduced, so be sure and check frequently for updates. Clicking on a bill number link will give you the text of the bill and its latest status as the bill moves through the process. This week we added the following:

Income Tax Credit. HB 8 by Rep. Dar’shun Kendrick (D-Lithonia) would renew and revise an income tax credit for certain investments in qualified businesses, remove the requirement that a qualified investor make the investment, establish an aggregate cap, allow the credit to be transferred, and introduce a reporting requirement and sunset. The bill has been assigned to the House Ways & Means Committee.

Veterans Day Paid Leave. HB 22, by Rep. Sandra Scott (D-Rex) would require employers to provide veteran employees with paid leave on Veterans Day and also provide those employers with an income tax credit for amounts paid to such veteran employees on account of the paid leave. The bill has been assigned to the House Ways & Means Committee.

Property Owners’ Associations. HB 62 by Rep. Sandra Scott (D-Rex) would establish requirements for condominium and property owners' association board members. It addresses vote allocation, proxies, quorums, residency, board size, elections, filings, certification, and contesting election results. The bill also proposes an annual registration requirement. The bill has been assigned to the House Governmental Affairs Committee.

Guest Worker Program. HB 82 by Rep. Matt Reeves (R-Duluth) proposes the creation of a Department of Labor-administered guest worker program to address labor shortages by allowing citizens of other nations to work in the state for limited periods of time. The bill has been assigned to the House Industry & Labor Committee.

Conservation Use Property. HB 90 by Rep. Chuck Efstration (R-Mulberry) would increase the maximum acreage that may qualify for assessment and taxation as a bona fide conservation use property from 2,000 to 4,000 acres. The bill has been assigned to the House Ways & Means Committee.

Homestead Exemption. HB 92 by Rep. Shaw Blackmon (R-Bonaire) would postpone the date from March 1, 2025, to May 1, 2025, by which local governing authorities can opt out of base year homestead exemption. The bill has been assigned to the House Ways & means Committee.

Tax on Tips. SB 2 by Sen. Greg Dolezal (R-Cumming) would exclude tips from state taxation and require reporting by employers. The bill has been assigned to the Senate Finance Committee.

Public Records. SB 12 by Sen. Frank Ginn (R-Danielsville) would revise the state’s Open Records Request statutes pertaining to documents and records in the possession of private persons or entities and the judicial enforcement of such requests. The bill has been assigned to the Senate Judiciary Committee.