Other Committees Met to Consider Legislation of Interest to Banking
With 38 committees in the House and 28 in the Senate, monitoring all the goings on at the committee level is a monumental task primarily because almost all in some way consider legislation that could affect the banking industry. This week, several bills we’ve been monitoring were the subject of hearings; and in most cases, the bills were reported to the respective Rules Committees in each body that decides whether a bill goes to the floor for consideration. Here’s a list of a few bills we’re monitoring that received committee attention this week:
The Senate Judiciary Committee has reported SB 194
by Sen. Jesse Stone
(R-Waynesboro), legislation designed to further refine Georgia’s garnishment statute that was substantially revised last session. Our thanks to Adam Cleveland
from GBA associate member law firm Thompson, O’Brien, Kemp & Nasuti, P.C
., for his work with an ongoing task force that made the recommendations contained in the bill and testified in support of it. GBA supports the bill.
Tax Lien Registry.
The House Ways and Means Committee reported HB 337
by Rep. Bruce Williamson
(R-Monroe). The bill creates a new statewide tax lien registry and was requested by the Georgia Department of Revenue. GBA is monitoring the bill.
The House Ways and Means Committee reported HB 357
by Rep. Ron Stephens
(R-Savannah) that would create a titling process for boats and other watercraft. The Department of Natural Resources is tasked with the titling process. GBA supports the bill.
Power of Attorney.
The House Judiciary Committee reported HB 221
by Rep. Chuck Efstration
(R-Dacula) that is essentially a rewrite of the current power of attorney statute. Our thanks to Rep. Efstration for making a number of changes we recommended in the legislation. We expect the bill to continue to be perfected when it’s considered by the Senate.
Industrial Loan Act – Contracts.
The Senate Banking Committee held a hearing but took no further action on SB 198
by Sen. Elena Parent
(D-Atlanta), a bill that prohibits Georgia Industrial Loan Act licensees from using instruments like checks to create contracts under certain circumstances. GBA is monitoring the bill.
Installment Loan Pawn Transactions.
A subcommittee of the House Regulated Industries amended and reported HB 353
by Rep. Brett Harrell
(R-Snellville), a bill that creates a new opportunity for pawn transactions to be handled as installment loans. GBA is monitoring the bill.
State Income Tax.
The House Ways and Means Committee reported HB 329
by Rep. Jay Powell
(R-Camilla) that would reduce the state income tax rate to 5.5 percent. GBA is monitoring the bill.