Loading...Legislative Update - February 8
Today is the 14th day of the 40-day legislative session. The General Assembly will meet through Thursday of this week and return the following Tuesday.
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Water
Last Wednesday, Governor Perdue announced the Georgia Water Stewardship Act of 2010, which has been introduced simultaneously in the House and Senate by Representative Lynn Smith (Newnan) and Senator Russ Tolleson (Perry). The bills are based on the recommendations of the Water Contingency Planning Task Force, which was co-chaired by Georgia Chamber Environment & Energy Committee Chair Tim Lowe of Lowe Engineering, and are focused on incentivizing water conservation, reducing water loss and promoting stewardship of this finite resource.
Transportation
Senate Democrats introduced a bill last week that would allow for regional funding of transportation projects. It would also take one penny from the existing motor fuel tax and dedicate it to road, transit and infrastructure improvements. This proposal follows on the heels of Governor Perdue's announcement that he would introduce a bill also calling for regional funding, as well as $300 million in bond funding to help meet the state's transportation needs. The Georgia Chamber supports a regional approach to transportation funding and remains optimistic that legislation will be passed this year to resolve this critical issue.
Taxation
Bills have been introduced by Representative Lynn Smith (Newnan) to preserve the sales tax holidays for school supplies and energy efficient products, both of which are supported by the Georgia Chamber as ways to stimulate the economy and support the retail industry.
State Budget
The House is expected to vote this week on the FY2010 Amended Budget, which was adjusted downward by $1.2 billion as a result of lower than anticipated revenue. While both chambers continue their work on both the FY2010 and FY2011 budgets, a panel of business leaders - several of whom are Georgia Chamber members - appointed by Lieutenant Governor Casey Cagle will soon be bringing forward their recommendations as to how the state could cut costs and increase efficiency.
Economic Development
Legislation has been introduced by Representative Jeff May (Monroe) to establish a standard school start date for systems throughout the state. The Georgia Chamber of Commerce supports this position as a way to both improve student performance and increase tourism revenue for the state.
Legislation has been introduced to incentivize more capital for startup businesses in Georgia. The Angel Investor Tax Credit bill - introduced as stand-alone legislation, HB 1001, and as part of the JOBS Act, HB 1023 - would offer an income tax credit for investors who help create jobs in Georgia by providing capital for startup companies.
Legislative News
Georgia Chamber Board member and former State Representative Hardie Davis was elected to the State Senate last week in a special election to fill the term of former Senator and Board member Ed Tarver, who was appointed to be a U. S. Attorney late last year.
