New Bills that CBA is tracking:
HB 488—Commerce and Trade by Rep. Martin Momtahan (R), Dallas, was introduced in the House. The bill relates to selling and other trade practices related to the sale of stored value cards or gift cards, most notably, this bill seeks to require certain persons involved in the re-sale of these cards to obtain significant information from the seller of the cards. As written, CBA has concerns with the data requirements that a merchant must maintain for each transaction and whether or not this bill applies to our banks. CBA is working with the parties interested in this bill to work on clarifying language that would ensure that our banks are not adversely impacted by these requirements.
HB 523—Local Government by Kasey Carpenter (R), Dalton, was introduced in the House. The bill relates to local government, so as to prohibit local governments from regulating the use of certain real estate as short-term rental property; to provide for definitions; to provide for related matters; to repeal conflicting laws; and for other purposes. CBA will monitor this bill.
SB 178—Specialized Land Transactions by Sen. P.K. Martin IV (R), Lawrenceville, was introduced in the Senate. This bill relates to regulation of specialized land transactions, so as to provide for statements of account under the "Georgia Condominium Act" and the "Georgia Property Owners' Association Act" for fees owed to condominium associations and property owners' associations, respectively. This bill is very similar to HB 410 that was passed by both the House and Senate last session, but was vetoed by Governor Nathan Deal. The primary difference in this bill compared to last year’s bill is the “Statutory Statement of Account” that would be required for properties located within a condominium or property owners’ association. The bill was assigned to the Senate Special Judiciary Committee. The bill was passed by substitute by the Special Judiciary Committee on Tuesday.
SB 186—Trusts by Sen. Bill Cowsert (R), Athens, was introduced in the Senate. This bill seeks to provide for the creation of “self-settled trusts” in the State of Georgia and has the same language as HB 441 that was passed by both the House and Senate last session, but was vetoed by Governor Nathan Deal. The bill was assigned to the Senate Banking & Financial Institutions Committee. It appears that this bill mirrors HB 497 by Rep. Bonnie Rich (R), Suwanee.
SB 202—Title Insurance by Sen. William T. Ligon, Jr. (R), Brunswick, was introduced in the Senate. The bill relates to title insurance, so as to allow title insurance to be procured on a lender's security interest in personal property taken by the lender as collateral for a commercial loan. The bill was assigned to the Senate Insurance & Labor Committee.
Update to bills that CBA is tracking:
HB 70—Guardian and Ward by Rep. Chuck Efstration (R), Dacula, was passed as a substitute by the House on February 25th with a vote of 170-0. The bill was referred to the Senate Judiciary Committee.
HB 185—Financial Institutions, by Rep. Bruce Williamson (R), Monroe, was passed by the House on Tuesday with a vote of 171-0. The bill was referred to the Senate Banking & Financial Institutions Committee.
HB 239–Georgia Business Court by Rep. Chuck Efstration (R), Dacula, was passed as a substitute by the House Judiciary Committee on Wednesday.
HB 288–Superior Courts by Rep. Alan Powell (R), Hartwell, was passed by the House Judiciary Kelley Subcommittee on Thursday.
HB 307—Abandoned Motor Vehicle Act by Rep. Alan Powell (R), Hartwell, was passed as a substitute by the House Motor Vehicles Committee on Tuesday.
HB 314—Georgia Uniform Certificate of Title for Vessels Act by Rep. Ron Stephens (R), Savannah, was passed as a substitute by the House Ways & Means Committee on Wednesday. The Committee struck the language on the taxes that was causing CBA concerns with the bill.
SB 20 -Counties and Municipal Corporations; establishment of banking improvement zones by Sen. Michael “Doc” Rhett (D), Marietta, was passed by the Senate on Wednesday with a vote of 55-0.
SB 52—Code Revision Commission by Sen. William T. Ligon (R), Brunswick, was passed by the House Code Revision Committee on February 22nd.
SB 110—Statewide Business Court by Sen. Jesse Stone (R), Waynesboro, was passed as a substitute by the Senate Judiciary Committee on Wednesday. The Committee made substantial changes to the bill in an effort to mitigate concerns with the bill.
SB 120—Georgia Tax Credit Business Case Act by Rep. John Albers (R), Roswell, was passed by the Senate Finance Committee on February 22nd. The bill was passed by the Senate with a vote of 53-0 on Friday.