Creating Influence

Stay Informed: State Legislative Hearings, Special Session

Next week the state Legislature convenes for a “special session,” an atypical move that was called to address increasing the state budget to provide much needed support to areas of the state impacted by the hurricane, and other tax issues. GCUA anticipates additional hearings to take place next week in conjunction with the session and will be monitoring for any issues that impact the industry. And while the special session does not begin until the 13th, the past two weeks there were multiple hearings of note to credit unions:

  • On November 2nd the House Study Committee on Real Property Taxation continued a series of hearings on analyzing the property tax system in Georgia. During the hearing, the committee focused on the process of appeals; however, in the discussion, the topics of foreclosure, taxation and affordable housing were in play. These hearings will continue in the next few weeks and will continue to be monitored closely to ensure that credit unions are not impacted.
  • On November 7th the House Study Committee on Short-term Rentals met to discuss potentially regulating these properties. GCUA has been engaged on this topic so as to protect against any language that could impact insurance coverage on first mortgages, and more hearings are anticipated. Stay tuned!

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