The state Legislature in Georgia continues to hold a very active off session with multiple hearings and budget committee meetings, ranging from fraud issues to rural development, business regulations, budget cuts, transportation and health/insurance issues. These hearings, and many more, will continue through the rest of the year as the Legislature gears up for the 2020 session. Two hearings of note to credit unions in the past few weeks were:
- Housing Issues: On September 30th the House held its first hearing on analyzing “Workforce Housing.” While the purpose of the study committee was directed at local code and aesthetic requirements on homes, this hearing focused on a wide range of issues from economic development to tax policy, mortgage and foreclosure assistance – and how student loan debt factors into homeownership. This issue is monitored to protect against lending obstacles or barriers to helping those seeking a mortgage.
- Business Regulations: On September 26th the Senate held the second of its “Cost of Doing Business” hearings, which are directed at the legal climate for businesses in Georgia. However, this particular hearing was focused heavily on auto insurance, requirements on a federal or state level, limits and combating frivolous lawsuits in general. With more hearings pending as of press time, the outcome of the collective effort will be monitored for any changes as it applies to business operations and the legal environment.