Legislative Days 32-35

House and Senate committees advanced more than 200 measures this week, but beneath the pace and outward goodwill, cross-chamber tensions are rising.  Leadership in both chambers has slowed or sidelined priority legislation from the other side, while election-year dynamics continue to shape strategy and floor behavior.

The Senate Finance Committee continues to rework the House’s property tax package and has yet to take up key insurance reform bills.  Meanwhile, the House has held back Senate income tax proposals.  Senate Democrats, for their part, are leveraging procedural tools to slow floor debate.  All of this is fueling a frenzied and increasingly political environment heading into the final five days of the 2026 session.

Department of Banking Housekeeping (HB 945)                                   
Rep. Bruce Williamson, R-Monroe
Adopted by the Senate on March 10 and eligible for enactment by the Governor

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.

CBA will continue to work with the Department to develop rules implementing these changes and will collaborate on training for banks regarding the use of transaction holds.

Voluntary Portable Benefit Plan Act (HB 987)                                         
Rep. Todd Jones, R-Cumming
Placed on the Senate Rules Calendar for March 20

HB 987 creates a legal framework for voluntary portable benefit plans for independent contractors. The bill allows independent contractors 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.  Passage in the Senate will send the bill to the Governor’s desk.

Commerce and Trade (HB 1112)                                                                     
Rep. Carter Barrett, R-Cumming
Favorably reported by the Senate Finance Committee on March 17

HB 1112 provides for rounding the total price of the sale of goods or services when using cash as the penny is removed from circulation.  The version adopted by the House required retailers to “always round down”, creating concerns about the long-term impact.  The Senate Finance Committee returned the bill to its prior form, allowing transactions to be rounded to the nearest five cents.

Financial Literacy (HB 1114)                                                                            
Rep. Bill Yearta, R-Sylvester
Favorably reported by the Senate Education and Youth Committee on March 19

HB 1114 allows students in ninth and tenth grade to complete the high school graduation financial literacy course requirement.  The committee added language from HB 1269 to establish digital literacy standards for students in grades K-12.

Stablecoin (HB 1272)                                                                                           
Rep. Todd Jones, R-Cumming
Heard by the Senate Banking and Financial Institutions Committee on March 17

This bill creates a state-level regulatory framework for payment stablecoin issuers, aligning state law with the federal GENIUS Act.  The bill requires licensure and regulation by the Department of Banking and Finance.  Representatives from The Stablecoin Institute and The Fintech Accord joined the author of the bill in his presentation.  Committee members asked detailed questions, reflecting a growing understanding of the bill’s scope and implications.  CBA expects the Senate to vote on the bill next week.

Transactional Gold and Silver Act (SB 424)                                               
Sen. Marty Harbin, R-Tyrone
Heard by the House Banks and Banking Committee on March 17

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.

Georgia Hemp Farming Act (SB 33)
Sen. Kay Kirkpatrick, R—Marietta 
Heard by the House Agriculture and Consumer Affairs Committee on March 17

SB 33 amends the Hemp Farming Act by providing limits on the total THC concentration of consumable hemp products.  It also revises provisions concerning the certificate of analysis applicable to consumable hemp products.   This week, the House also advanced a measure (SB 89) dealing with retail package liquor stores and THC-infused products.  Additionally, the legislature continues to debate the regulation of medical cannabis as part of SB 220.

Active Measures: Taxation

Tax Credit for Individuals (HB 1000)                                                            
Rep. Matthew Gambill, R-Cartersville
Adopted by the Senate on March 16 and eligible for enactment by the Governor

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

Georgia Uniform Securities Act (SB 284)
Sen. Larry Walker, R—Perry
Placed on the Senate Rules Calendar for March 20

SB 284 authorizes the issuance of orders by the Commissioner of Securities directing persons who have violated certain securities provisions to return to investors, customers, or clients sums paid in connection with securities purchases.

Transparency in Foreign Funded Political Activities (SB 177)
Sen. Jason Anavitarte, R—Dallas 
Adopted by the House on March 16

SB 177 increases transparency in foreign-funded political activities within the state.  It requires agents of hostile foreign principals and foreign-supported political organizations to register with the State Ethics Commission.   The bill returns to the Senate for additional action.

Reduce the Income Tax Rate (HB 1001)                                                      
Rep. Will Wade, R-Dawsonville
Favorably reported by the Senate Finance Committee on March 17

HB 1001 accelerates a reduction in the state income tax rate to 4.99% effective for tax year beginning January 1, 2026.  This is one of Governor Kemp’s legislative priorities.

Crimes of Gift Card Theft, Forgery, and Fraud (HB 447)
Rep. Joseph Gullett, R—Dallas 
Favorably reported by the Senate Judiciary Committee on March 19

HB 447 creates the new crime of gift card theft, gift card forgery, and gift card fraud with potential penalties to include fines, imprisonment, or both.

Disposition of Unclaimed Property (SB 403)                                            
Sen. Kay Kirkpatrick, R—Marietta
Bill failed in the House Judiciary Committee on March 19

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.

Electronic Filing of Pleadings in Probate Court (HB 530)
Rep. Rob Leverett, R—Elberton 
Favorably reported by the Senate Judiciary Committee on March 17

HB 530 authorizes for the electronic filing of pleadings in probate court.  In addition, it establishes a mandatory, statewide e-filing system.

New Legislation of Interest