Bill > HB1098

This bill, titled the "Georgia Investment Act," establishes the Georgia Investment Act Pilot Fund to support economic development in underdeveloped communities across the state, addressing a gap in existing programs like the OneGeorgia Authority which previously excluded many urban and suburban areas. The fund will be financed through legislative appropriations, grants, and donations, and its investments will be managed by the state treasurer. Eligibility for disbursements from the fund will be determined by a framework assessing median household income, unemployment rates, poverty levels, infrastructure deficiencies, and documented underinvestment, with counties meeting at least three of these criteria becoming eligible regardless of their rural or non-rural status. The OneGeorgia Authority will be responsible for preparing an annual accounting of fund expenditures and publishing a report detailing award statistics and project outcomes. Additionally, the bill creates the Joint Legislative Oversight Commission on Georgia United Investment, a 14-member body composed of representatives from specific metro Atlanta counties and appointed legislative members, tasked with monitoring the administration of the pilot fund, holding meetings and hearings as needed, and requiring a majority of its members to form a quorum for official business.

Business and Industry

https://www.legis.ga.gov/legislation/72614