Legislators Return to Chambers 
After meeting last week for budget hearings, the House and Senate returned in earnest on Monday, ticking four days off the legislative calendar.  Many standing committees met for the first time, allowing new members to introduce themselves and adopting rules that will govern committee proceedings for the balance of the two-year term. 

On Wednesday, Governor Brian Kemp delivered his annual State of the State address.  He focused on economic development projects and highlighted the need for a skilled workforce and affordable housing.  The Governor also addressed increased crime and changes to Georgia’s individual health insurance marketplace. 

Substantive committee action is expected to begin next week.  Lawmakers will be in session Monday through Thursday. ​

Bill Highlights:  H.B. 55 Department of Banking’s Housekeeping Bill 
H.B. 55 was introduced in the House by Rep. Bruce Williamson (R), Monore.  This is the Department of Banking and Finance’s Housekeeping bill.  The bill was assigned to the Banks & Banking Committee.   

The bill contains the following general clean-up provisions for supervision: a) revising references to the allowance of loan and lease losses to the allowances for credit losses to align with a change in terminology for GAAP (O.C.G.A. §§ 7-1-4(35); 7-1-659); b) updating the rules of construction that any references to laws or rules in the Financial Institutions Code will be to the laws as they existed on January 1, 2023 (O.C.G.A. § 7-1-10);  c) providing that a bank or trust company can change its name without shareholder approval to align with O.C.G.A. § 14-2-1002(8) (O.C.G.A. § 7-1-551); d) providing that credit unions have the power to enter into agency relationships which aligns with the powers for banks found in O.C.G.A. § 7-1-261(d) (O.C.G.A. § 7-1-650(16)); e) providing that credit unions can have fiscal years that do not align with a calendar year so long as expressly set forth in the credit union’s bylaws (O.C.G.A. § 7-1-661); and f) renaming “central credit union” to “corporate credit union” as that is the phrase used nationally to refer to credit unions that provide services to other credit unions (O.C.G.A. § 7-1-669).  

For a summary of substantive changes to the Housekeeping bill, click here. 

The Banks & Banking Committee has H.B. 55 on their schedule for next Wednesday, February 1st at 3PM.   ​

Georgia Superior Court Clerks’ Cooperative Authority introduces FANS  
The Georgia Superior Court Clerks’ Cooperative Authority (GSCCCA), in conjunction the Superior Court Clerks of Georgia, has developed a free, consumer-friendly process that notifies property owners any time filings are made related to their registered property. The Filing Activity Notification System (FANS) https://fans.gsccca.org/ will also notify of filing activity related to personal property, liens and plats. FANS gives citizens a much-needed tool to monitor filing activity related to their property which could help prevent deed fraud. Registration is simple in that it only requires an email address or phone number.   Click here to read the press release. 

 The next legislative update will be available on February 3  

Budget Hearings Begin
On Tuesday, Governor Brian Kemp presented his budget priorities to the General Assembly from Davos, Switzerland where he was participating in a panel at the World Economic Forum.  He is proposing that the state return about $1 billion, with most taxpayers receiving between $250 and $500.  His budget also calls for a cost-of-living adjustment for state employees.
 
The General Assembly will adopt two budgets.  The first adjusts state spending through the end of the current fiscal year, which runs until June 30.  The second larger budget begins July 1 and estimates about $32.4 billion in state revenue.
 
With the Governor’s balanced budgets as a starting point, the House Appropriations Committee will make adjustments to reflect their own priorities.  The Senate will do the same.  The bills will eventually move to a conference committee to iron out remaining differences before both chambers give final approval and send them to the Governor for authorization and enactment.
 
Lawmakers will return in earnest on Monday for a four-day work week and the pace of session will quicken.  Next week’s report will feature newly introduced legislation of interest.

​Governor’s Announces Floor Leaders
​On January 19, Governor Brian Kemp announced his Floor Leaders.  Because the Governor is not a member of the legislature, the office relies on specific members in the House and Senate to advance priority measures.  Floor leaders include:

​Of particular interest to the Association, both Sen. Hodges and Rep. Wade have banking backgrounds.  Hodges was the founding director and senior officer of the First Bank of Brunswick until it was acquired by Ameris Bank in 2001.  He now serves as president of its southeast Georgia coastal market.  Rep. Wade is the Senior Vice President of Commercial Lending at River City Bank in Rome and was previously with Pinnacle Bank and others.

2023 Session Underway
The Georgia General Assembly convened for the first day of the 2023 session on Monday, January 9.  The pomp and circumstance began with the swearing-in of House and Senate members elected in November, as well as the election of new leadership in both chambers.  Click here for additional information (pdf) on leadership.
 
Governor Kemp and other constitutional officers were sworn in Thursday morning on the Georgia State University campus, just steps from the Capitol.  Later that evening, supporters attended the inaugural gala.
 
Friday capped off a celebratory week for the state, but the real work begins next week.  After observing the Martin Luther King, Jr. holiday on Monday, members of the House and Senate Appropriations Committees will convene for budget hearings.  The legislature will next gavel in on Monday, January 23 and a deluge of bills will be introduced at that time.

Sen. Carden Summer Named Banking and Financial Institutions Chair
On Thursday, Lt. Governor Burt Jones released committee rosters and leadership positions for the 2023-2024 legislative session.  Sen. Carden Summers (R-Cordele) has been named Chair of the Senate Banking and Financial Institutions Committee.  This committee has general jurisdiction over financial institutions, real property finance, and corporate securities law.
 
Summers is a farmer, local business owner, and real estate broker.  He was a Crisp County Commissioner for six years before seeking higher office.  He won a special election in the Senate in early 2020 and secured a full term later that year.  This is his first chairmanship assignment; he has not previously served on the Banking and Financial Institutions Committee.

Schedule Announced
Amid the celebrations, the House and Senate took the unprecedented step of releasing the full forty-day legislative calendar as one of their first official acts.  Aside from a few exceptions, the legislature will be in session Monday through Thursday each week.  Crossover Day is slated for March 6 and the final day is scheduled for March 29.  These dates are subject to change as circumstances dictate.

​Legislature Convenes Monday
The Georgia General Assembly will convene for the first day of the 2023 session on Monday, January 9.  The day will begin with the swearing-in of members of the House and Senate elected in November.  As the first year in a two-year legislative cycle, no legislation from previous sessions carries over.
 
Several lawmakers will travel to Los Angeles Monday afternoon to attend the college football national championship game featuring the University of Georgia.  No business is expected on Tuesday, and we anticipate a return to session on Wednesday, with inaugural festivities for Governor Brian Kemp and other constitutional officers later in the week.
 
What We’re Watching
While the first days of a new session are largely ceremonial, important administrative actions also take place.  The House and Senate will officially install their internal leadership, which includes significant turnover.  Jon Burns will be elected to his first term as Speaker of the House following the resignation and subsequent passing of David Ralston.  We are also watching for the announcement of new committee chairs and committee assignments, as more than 50 new lawmakers are brought on board.
 
Runoff Elections
Several pockets of the state remain in election mode.  Most races will be determined on January 31 and victors will be seated in the legislature immediately.  Republicans are expected to maintain each of these four seats: