2026 Legislative Days 10-14

Department of Banking Housekeeping (HB 945) Rep. Bruce Williamson, R-Monroe
Approved by the House on Feb-6 

This year’s legislative housekeeping package is one of the most consequential in recent memory.  The bill establishes a process to allow financial institutions to place temporary holds on transactions when they reasonably suspect financial exploitation of elderly (65+) or disabled adults.  The initial hold may last up to fifteen business days, with one additional fifteen-day extension permitted.  The financial institution must provide notice of the hold to both the account holder and any trusted contacts.  Institutions acting in good faith receive civil, criminal, and administrative immunity. 

The legislation also regulates cryptocurrency ATMs, with mandatory consumer disclosures, fee caps, and daily transaction limits.  It expands the Department’s authority over litigation financiers to increase transparency and accountability; this was part of last year’s legal reform package. 

The bill makes other technical changes, including: 

• Updating merger notification and approval procedures 

• Clarifying MALPB rules 

• Clarifying certain credit reporting requirements 

• Updating mortgage, installment lending, and fair lending provisions 

• Clarifying Department authority across charters and licensing regimes 

• Authorizing the Department to object to the merger or consolidation of a bank or trust 

For more information, click here for a summary provided by the Department. 

Securities and Commodities Regulation (HB 934) Rep. Noel Williams, R-Cordele
Favorably reported from the House Banks and Banking Cmte on Feb-5 

HB 934 transfers the regulation of securities and commodities from the Secretary of State to the Department of Banking and Finance.  Doing so consolidates financial regulation within the Department, a move that is intended to improve oversight and coordination.  This change comes on the heels of the First Liberty Building & Loan scandal, in which the Secretary of State’s Securities Division failed to uncover misuse before federal authorities intervened. 

Voluntary Portable Benefit Plan Act (HB 987) Rep. Todd Jones, R-Cumming
Favorably reported from the House Industry and Labor Cmte on Jan-28 

HB 987 creates a legal framework for voluntary portable benefit plans for independent contractors. It is designed to allow those workers to accumulate and manage benefits (like insurance and retirement savings) without changing their legal classification as independent contractors.  It specifically authorizes banks to serve as portable benefit account providers, creating opportunities for new deposit products. 

Higher Education Savings Plan (HB 962) Rep. Chuck Martin, R-Alpharetta
Considered by a House Ways and Means Subcmte on Feb-4 

Current law provides a fixed cap on the maximum contribution limit for the Georgia Higher Education Savings Plan.  HB 962 instead allows the Savings Plan’s Board of Directors to set the maximum contribution limit.  It also modifies an exemption from taxable net income for contributions to certain education savings plans. 

Transactional Gold and Silver Act (SB 424) Sen. Marty Harbin, R-Tyrone
Pending in the Senate Banking and Financial Institutions Cmte 

SB 424 provides for gold and silver specie as legal tender.  It creates an electronic payment system and a bullion depository.  It prohibits a social credit scoring system. 

Disposition of Unclaimed Property (SB 403) Sen. Kay Kirkpatrick, R—Marietta
Adopted by the Senate on Feb-5 

SB 403 updates Georgia’s Unclaimed Property Act, including provisions addressing the treatment of virtual currency.  The bill makes other administrative changes, including clarifying when property is presumed abandoned, expanding holder notice requirements, adjusting publication standards, and modernizing claims processing and payment methods. 

Tax Credit for Individuals (HB 1000) Rep. Matthew Gambill, R-Cartersville
Pending in the House Ways and Means Cmte 

HB 1000 provides a one-time tax credit for individual taxpayers who filed income tax returns for the 2024 and 2025 taxable years.  This is a key component of Governor Kemp’s final legislative package. 

• Single taxpayers are entitled to a $250 tax credit, 

• Heads of household are entitled to a $375 tax credit, and 

• Married couples filing a joint return are entitled to a $500 tax credit. 

Reduce the Income Tax Rate (HB 1001) Rep. Will Wade, R-Dawsonville
Pending in the House Ways and Means Cmte