Senate · Introduced · 2025-2026 Regular Session

SR493: SR493 Children First Trust Fund; creation; authorize General Assembly - CA

Last action March 31, 2025 · Senate Read and Referred

A Georgia Senate resolution would let voters decide whether to amend the state constitution to create a Children First Trust Fund, seeded with a one-time $2 billion transfer, to help pay for child care assistance.

In plain language

This resolution proposes a constitutional amendment that would let the General Assembly set up a Children First Trust Fund by law. If created, the fund would receive an immediate one-time $2 billion appropriation drawn from Georgia's Revenue Shortfall Reserve, the state's rainy day fund, and lawmakers could add more money later if they chose. Money placed in the fund would not be subject to the normal rule requiring unspent state funds to lapse back to the treasury at year end. Instead it would stay available to pay for scholarships, grants, or other financial assistance for child care services. A portion of the fund would be invested, and the investment returns would also be funneled into child care assistance. Because this is a constitutional amendment, it must be approved by Georgia voters in a statewide referendum before taking effect.

What the bill does

Amends Article III, Section IX, Paragraph VI of the Georgia Constitution to let the General Assembly create a Children First Trust Fund by law.
Directs a one-time $2 billion appropriation into the fund from the state's Revenue Shortfall Reserve once the fund is created.
Allows, but does not require, the General Assembly to add further money to the fund in future years.
Exempts fund money from the constitutional rule that unspent appropriations lapse at the end of the fiscal year (Article III, Section IX, Paragraph IV(c)).
Requires that fund money be used for scholarships, grants, or other financial assistance for child care services in Georgia.
Requires part of the fund to be invested and reinvested, with investment returns also directed toward child care financial assistance.

Who it affects

Georgia families seeking child care assistance, child care providers who could benefit from increased demand funded by scholarships or grants, the state treasury and its Revenue Shortfall Reserve, and Georgia voters, who must approve the change in a statewide referendum.

Why it matters

If voters approve it, Georgia would draw $2 billion from its rainy day fund to build a dedicated, ongoing pool of money for child care assistance, rather than relying on yearly budget appropriations that could lapse or shrink in future years.

Key provisions

Section 1 adds a new subparagraph (s) to Article III, Section IX, Paragraph VI authorizing creation of the Children First Trust Fund by law.
Requires a one-time $2 billion appropriation into the fund from the Revenue Shortfall Reserve once the fund is established.
Exempts fund moneys from the constitutional lapsing rule in Article III, Section IX, Paragraph IV(c), so unused money stays in the fund.
Requires that a portion of the fund be invested and reinvested as provided by law, with returns deposited back into the fund for child care assistance.
Section 2 sets the ballot language asking voters whether to ratify the amendment, to be submitted under Article X, Section I, Paragraph II of the Constitution.

Status timeline

2025-03-31Senate Read and Referred (Senate)
2025-03-28Senate Hopper (Senate)

Topics

child care funding
constitutional amendment
state budget
Revenue Shortfall Reserve
Georgia ballot referendum