Advocacy Update 2025 - Legislative Days 1-5

2025 Session Begins

The Georgia General Assembly convened for the 2025 legislative session on Monday, January 13.  The first day was largely ceremonial, with the certification of election results and legislators swearing their oath of office.

On Thursday, Governor Brian Kemp delivered his annual State of the State address.  The Governor spoke at length about the need for lawsuit reform, noting the untenable insurance market for Georgia’s families and businesses.  He urged Democrats and Republicans to work together, indicating he would call a special session if needed.  The Governor intends to introduce a comprehensive legal reform package in the coming weeks.  As he said, “doing nothing is no longer an option.”

Governor Kemp also called on the legislature to pass a 0.2% tax cut this year, reducing the income tax for Georgia businesses and individuals to 5.19%.  He emphasized his ongoing commitment to school safety, human trafficking, and those devasted by Hurricane Helene last September.

Looking ahead, several of Georgia’s Republican leaders will travel to Washington for the Inauguration of President Donald Trump on Monday.  Members of the House and Senate Appropriations Committees will then hold budget hearings for the remainder of the week.  The legislature will next gavel in on Monday, January 27.

2025 Freshman Legislators

Freshman legislators have taken their oath of office, been given committee assignments, and are ready to get to work.  In the Senate chamber, there is one new Republican member and three new Democratic members.  In the House chamber, there are six new Republican members and 12 new Democratic members.  Click here to learn more about these new legislators.

Legislative Schedule Announced

The House and Senate agreed to a schedule for the duration of the session.  

The critical Crossover Day deadline is set for March 6, with final adjournment on April 4.  This calendar is closely tied to the General Assembly meeting internal budget benchmarks. Click here to view the entire adjournment schedule. 

Bill Highlight: HB 15 Department of Banking’s Housekeeping Bill

HB 15 was introduced this week by Rep. Bruce Williamson (R), Monroe.  This is the Department of Banking and Finance’s annual housekeeping bill.  The Association has worked closely with the Department since August when it initially released a draft of the bill.

These amendments are intended to streamline regulations, improve efficiency, and reduce regulatory burdens across the various sectors regulated by the Georgia Department of Banking and Finance.  Key highlights include:

CREDIT UNIONS AND BANKS

• Streamline the application processes for new credit unions and banks.
• Revise requirements for reporting loans and evaluating credit union formations.
• Allow greater flexibility in applications and operational processes for foreign bank offices.

MERCHANT ACQUIRER LIMITED PURPOSE BANK (MALPB)

• Update receivership and forfeiture provisions to align with network concerns.
• Adjust fund safeguarding requirements and employee background checks. 

NON-DEPOSITORY FINANCIAL INSTITUTIONS

• Implement risk-based standards for mortgage brokers and lenders examinations, including financial and governance requirements.
• Modify felony prohibition policies to align with federal standards.
• Introduce an administrative withdrawal process for incomplete applications to avoid negative consequences for applicants.

GENERAL CLEANUP PROVISIONS

• Clarify change-in-control rules for holding companies.
• Remove outdated solicitation requirements for mortgage lenders.

ADDITIONAL RESOURCES

• For a complete copy of the current version of HB 15, visit the Georgia General Assembly website here.
• For a more thorough summary of proposed changes, click here.

The House Banks & Banking Committee, chaired by Rep. Noel Williams, will consider the measure when the legislature returns following the budget hearings.

Budget Week

Lawmakers reserve the week of the MLK Jr. holiday for budget hearings.  Over three days, members of the House and Senate Appropriations Committees will hear from the Governor, the state economist, and more than forty agency heads.  The House will then set to work on the amended FY24 budget, which shores up spending through June 30, and the FY26 budget, which begins July 1.