The state Legislature does not return for the normal session schedule until January. However, there has been much activity on issues of credit union interest in various “off-session” hearings. These hearings provide insight into the issues as they are taking shape, as well as create a window to shape those issues before they become introduced as legislation. Hearings from the past week include:
- On October 3rd a study committee on Real Property Taxation began its initial delve into analyzing the property tax system in Georgia. And while the committee will likely be focused on the assessments and appeal process, it opens a wide area of discussion topics of potential change ranging from taxation, local government funding and affordable housing. These hearings will continue in the next several weeks/months and may produce additional special committees to do periodic reviews of the tax code, and will continue to be monitored closely to ensure that credit unions are not impacted.
- On October 5th the state Joint Committee on Low THC Oil Access met again, this time in Athens, as a part of a series of hearings to analyze the state’s policies and potential policies surrounding access to low-THC oil. From a credit union perspective, GCUA is monitoring how the state treats hemp, low-THC oil and any marijuana legislation, as financial services are a factor in this debate. Providing financial services can be a challenge based on the conflict between state and federal government, and the committee has begun to consider potential taxation and legal issues surrounding expansion. More debate is expected later this month.