Georgia CommonsHB 1039: Georgia Equitable Economic Development Act; enact
Last action January 29, 2026 · House Second Readers
House Bill 1039 would create a new state fund and a legislative oversight commission aimed at directing OneGeorgia Authority economic development money toward counties that have historically been left out of that funding, including many urban and suburban areas.
The summaries below were written by an AI model (claude-sonnet-5) from the text of the bill and are not part of it. Quote the text, not the summary. The stored text is the Introduced version, the latest LegiScan holds.
In plain language
Georgia's OneGeorgia Authority currently distributes economic development money largely to designated rural counties. This bill, called the Georgia Equitable Economic Development Act, finds that this approach has excluded many densely populated urban and suburban counties from support over the past 20 years, contributing to underinvestment and "medical, food, and banking deserts." The bill creates the Georgia Corrective Investment and Pilot Expansion Fund, a new trust fund funded by state appropriations, grants, and other sources, to be invested by the state treasurer. Counties become eligible for money from the fund if they meet at least four of six listed criteria, such as high poverty rates or unemployment above the state average, regardless of whether they are classified as rural. The bill also creates a Small Business Access and Resiliency Program offering loans, grants, and technical assistance to small businesses in eligible counties, requires annual accounting and public reporting, and establishes a 14-member Joint Legislative Oversight Commission to monitor the fund's administration.
What the bill does
- Creates the Georgia Corrective Investment and Pilot Expansion Fund as a state trust fund to direct economic development money to underserved counties.
- Sets a six-factor eligibility test for counties (income, unemployment, poverty rate, infrastructure gaps, history of underinvestment, and minority or women owned business concentration) requiring at least four factors to qualify.
- Removes the rural-only limitation by making eligibility open to any county meeting the criteria, regardless of rural or nonrural designation.
- Creates the Small Business Access and Resiliency Program to give loans, grants, and technical assistance to small businesses in eligible counties.
- Requires the OneGeorgia Authority to submit annual financial accountings to state budget offices and publish annual public reports on awards and outcomes.
- Establishes a 14-member Joint Legislative Oversight Commission on Georgia United Investment, including local officials from eight named counties plus legislative appointees, to oversee the fund.
Who it affects
County governments, especially in Clayton, Cobb, DeKalb, Douglas, Fayette, Fulton, Gwinnett, and Rockdale counties named in the oversight commission; small businesses in eligible counties; the OneGeorgia Authority; the state treasurer's office; and legislative leaders who appoint commission members.
Why it matters
If enacted, counties that have not previously qualified for OneGeorgia Authority support, including many urban and suburban areas, could become eligible for state funded loans, grants, and technical assistance, while a new legislative commission would gain ongoing oversight power over how that money is spent.
Key provisions
- Section 1 gives the bill the short title 'Georgia Equitable Economic Development Act.'
- Section 2 states legislative findings, including an estimate that $26 billion in economic support has been withheld from certain counties over 20 years.
- New Code Section 50-34-21(b) creates the Georgia Corrective Investment and Pilot Expansion Fund in the state treasury, funded by appropriations, grants, and other sources, invested by the state treasurer.
- New Code Section 50-34-21(c) sets the six eligibility criteria for counties and requires meeting at least four to qualify for fund disbursements.
- New Code Section 50-34-21(d) creates the Small Business Access and Resiliency Program for loans, grants, and technical assistance to small businesses in eligible counties.
- New Code Section 50-34-21(e) and (f) require an annual accounting to state budget offices by January 1 each year and an annual public report on applications, awards, and outcomes.
- New Code Section 50-34-22 establishes the 14-member Joint Legislative Oversight Commission on Georgia United Investment, with local officials from eight counties and six legislative appointees serving four-year terms.
From the bill
“Any county meeting four or more of the criteria as provided in paragraph (1) of this subsection shall be deemed eligible to receive money from the fund, regardless of such county's designation as rural or nonrural.”
“Over the past 20 years, an estimated 26 billion dollars in economic support has been withheld from counties, impacting over 30 percent of Georgia's population;”
Status timeline
- House Second Readers (House)
- House First Readers (House)
- House Hopper (House)
Sponsors
- Viola Davis (D, HD-087)
- Sandra Scott (D, HD-076)
- Kim Schofield (D, HD-063)
Topics
- economic development
- OneGeorgia Authority
- small business funding
- county funding equity
- legislative oversight commissions