SB 0020 |
Neutral | Banking Improvement Zones |
Michael Rhett |
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1/1/2021 |
Effective Date |
Banks and Banking |
Banking and Financial Institutions |
- |
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| This legislation authorizes the creation of banking improvement zones, with the stated goal of encouraging new banks in areas underserved by banks. Local governments can apply to the Department of Community Affairs for a banking improvement zone designation. If the designation is granted, the local government will designate a bank within the zone to be the depository for local government funds, and subject to agreement with the bank, designate a fixed interest rate that is at or below the posted two-year certificate of deposit rate at the bank. |
SB 0157 |
Support | Depositories of Public Funds - Reciprocal Deposits |
John Kennedy |
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5/2/2019 |
Effective Date |
Banks and Banking |
Banking and Financial Institutions |
- |
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| This bill would allow local governments to deposit public funds into a "reciprocal deposit" program, under which the funds would be distributed to various banks and the funds in each bank would be insured to the FDIC limit. Detailed rules for the program would be developed by the State Depository Board. |
SB 0194 |
Support | Public Safety and Judicial Facilities Authorities |
Elena Parent |
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2/27/2019 |
Senate Read and Referred |
- | State and Local Governmental Operations |
- |
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| This bill would repeal statutes that require referendum approval for any bond issue by public safety and judicial facilities authorities. Such authorities may be activated in any county or city. |
SB 0309 |
Support | Local Government Infrastructure Finance Authority Act |
Jesse Stone |
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2/20/2020 |
Senate Read Second Time |
- | State and Local Governmental Operations |
- |
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| This bill would authorize the creation of two authorities with powers to provide financing for local government infrastructure and equipment: one administered by the Georgia Municipal Association and one administered by ACCG. These authorities could bundle purchases and financing for multiple local governments in one bond transaction. |
SR 0885 |
Support | Constitutional Amendment: Allowing State to Bond Airport Projects |
Tyler Harper |
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6/15/2020 |
House Second Readers |
Appropriations |
Transportation |
- |
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| This proposed constitutional amendment would allow the state to incur general obligation debt in order to make loans or grants to local governments and local authorities that own airports for the acquisition, construction, development, extension, enlargement, or improvement of airports. |