Legislative Days 6-9
Bills Hit the Floor
Legislators returned to Atlanta on January 27 to a full committee hearing schedule and the launch of real action on policy matters. Bills are now moving into position to be voted on by the full chambers. The following week begins the second quarter of the 2026 session and signals the beginning of the race to Crossover Day and later, Sine Die. This is a critical phase of the session, as bills that appear innocuous can quickly become consequential, while others are amended, slowed, or sidelined entirely. The pressure is on to make the most of the remaining thirty days of the session.
Department Presents Budget
On Tuesday, Commissioner Bo Fears appeared before the House Appropriations General Government Subcommittee to discuss the Department of Banking and Finance’s amended FY26 budget. Fears emphasized the need for competitive staffing and technology to keep pace with increasingly complex financial products and compliance obligations. He noted an increase in workload without a corresponding increase in staff. These staffing and technology constraints have implications for examination timelines, licensing backlogs, and supervisory capacity. The House Appropriations Committee will take the Commissioner’s comments into consideration when finalizing its amended FY26 budget recommendations.
Property Tax Reform Introduced
On January 28, Speaker of the House Jon Burns unveiled sweeping property tax reform in HR 1114. The Georgia HOME Act eliminates property taxes on homesteaded property statewide by 2032. The bill caps local property tax revenue growth at 3% for non-homesteaded property, which continues to pay property taxes. To make up for the $5 billion in lost revenue for schools and local governments, the proposal allows those entities to repurpose existing sales taxes or charge assessments that are not tied to property value. Enabling legislation is expected the week of February 2.
Active Measures: Banking
Department of Banking Housekeeping (HB 945) Rep. Bruce Williamson, R-Monroe
Scheduled for consideration by the House Banks and Banking Cmte on Feb-2
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
Scheduled for consideration by the House Banks and Banking Cmte on Feb-2
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
Pending in the House Ways and Means Cmte
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.
Remote Access Protection Act (HB 1034) Rep. Sandra Scott, D-Rex
Assigned to the House Banks and Banking Cmte on Jan-28
HB 1034 requires that financial institutions provide customers with the ability to place emergency holds on suspected fraudulent transactions. It charges the Attorney General with creating a public awareness campaign and training initiatives regarding certain financial crimes.
Transactional Gold and Silver Act (SB 424) Sen. Marty Harbin, R-Tyrone
Assigned to the Senate Banking and Financial Institutions Cmte on Jan-28
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.
Active Measures: Property
Notice of Foreclosure (HB 948) Rep. Beth Camp, R—Concord
Pending in the House Judiciary Cmte
HB 948 relates to mortgages, conveyances to secure debt and liens and tax sales. It provides for debtors in foreclosures to receive certain information and forms in a notice of foreclosure. It also provides for tax sale notices to comply with foreclosure notice requirements. The bill was originally scheduled for consideration in the House Judiciary Committee on Jan-27, but Chairlady Camp asked for consideration to be delayed.
Property Owners’ Associations (SB 406) Sen. Matt Brass, R-Newnan
Pending in the Senate Judiciary Cmte
SB 406 creates a regulatory framework for property owners’ associations in Georgia. The legislation adds oversight, registration, and property owner rights. It revises the lien and foreclosure process. The Senate may also consider SB 393, which prohibits a property owners’ association from traffic and parking enforcement and clarifies that these are the sole responsibility of law enforcement. Recent measures filed in the House to address this include HB 1036 and HR 1046.
Debtor's Aggregate Interest (HB 1024) Rep. Soo Hong, R-Lawrenceville
Assigned to the House Judiciary Cmte on Jan-28
HB 1024 increases the exemption for a debtor's aggregate interest in real property or personal property that the debtor or a dependent of the debtor uses as a residence, in a cooperative that owns property that the debtor or a dependent of the debtor uses as a residence, or in a burial plot. The exemption increases from $21,500 to $50,000 or from $43,000 to $100,000 if it is the primary residence of both spouses.
Real Estate Security and Title Act (HB 1042) Rep. Matt Reeves, R-Duluth
Assigned to the House Judiciary Cmte on Jan-28
HB 1042 does several things. It authorizes the holder of a security instrument to submit a credit bid at a judicial sale instead of tendering cash or a certified check. It strengthens privacy protections for current and former judges and their spouses and increases eligibility standards for special masters in certain quiet title proceedings.
Active Measures: Taxation
Eliminate Ad Valorem Tax on Timber (HR 1000) Rep. Chuck Efstration, R—Mulberry
Pending in the House Ways and Means Cmte
HR 1000 proposes an amendment to the Constitution to eliminate the ad valorem tax assessment of certain timber at sale or harvest. To make affected cities, counties, and school districts whole, the state will annually appropriate funding according to a formula.
Active Measures: General Business
Disposition of Unclaimed Property (SB 403) Sen. Kay Kirkpatrick, R—Marietta
Pending in the Senate Finance Cmte
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
Assigned to the House Ways and Means Cmte on Jan-27
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
Assigned to the House Ways and Means Cmte on Jan-27
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.
Municipal Election Schedule (SB 422) Sen. Tim Bearden, R-Carrollton
Assigned to the Senate Ethics Cmte on Jan-28
SB 422 requires most municipal elections to occur in even-numbered years. It provides a one-year extension to the terms of office of most municipal officers for the transition of municipalities into even-numbered year election cycles.
ICBA Capital Summit
ICBA’s 2026 Capital Summit will be held May 4-7, 2026, at the Westin Washington, DC, Downtown. For more information on the Summit or to register for the event, click here.
Categories
Upcoming Webinars
ICBA Education Programs
State Association Code: GA-CBA
Sign Up for CBA Emails
Don't have a login yet?
Check out this how to guide to get started.