---
title: SB 441. Local Government Investment Pool; certain pooled investments to be approved by the State Depository Board; require
collection: bills
id: 2025-2026/sb441
cite_as: SB 441, 2025-2026 Regular Session (Ga.)
canonical_url: https://georgiacommons.org/bills/2025-2026/sb441
md_url: https://georgiacommons.org/bills/2025-2026/sb441.md
text_url: https://georgiacommons.org/bills/2025-2026/sb441/text
source_url: https://www.legis.ga.gov/legislation/72632
date: 2026-05-11
status: passed
corpus_version: bills-2026-09-13
license: Public record of the Georgia General Assembly, via LegiScan; see about.md
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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omitted: votes and history
omitted_chars: 953
omitted_url: https://georgiacommons.org/bills/2025-2026/sb441.md?full=1
bill_number: SB 441
session: 2025-2026 Regular Session
session_slug: 2025-2026
chamber: Senate
bill_type: bill
status_date: 2026-05-11
last_action: Effective Date 2026-07-01
sponsors:
- Marty Harbin
- Ricky Williams
- Chuck Hufstetler
- John Albers
- Jason T. Dickerson
- Max Burns
- Johnny Chastain
text_version: Enrolled
has_text: true
legiscan_url: https://legiscan.com/GA/bill/SB441/2025
upstream_id: 2102370
summaries_model: claude-sonnet-5
topic_tags:
- local government finance
- public investments
- state oversight
- government accountability
---
# SB 441. Local Government Investment Pool; certain pooled investments to be approved by the State Depository Board; require
## Text
Senate Bill 441
By: Senators Harbin of the 16th, Williams of the 25th, Hufstetler of the 52nd, Albers of the
56th, Dickerson of the 21st and others
AS PASSED
A BILL TO BE ENTITLED
AN ACT
To amend Chapter 83 of Title 36 of the Official Code of Georgia Annotated, relating to local
government investment pool, so as to require certain pooled investments to be approved by
the State Depository Board; to exempt certain pooled investments from such approval; to
provide for an effective date and applicability; to provide for related matters; to repeal
conflicting laws; and for other purposes.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION 1.
Chapter 83 of Title 36 of the Official Code of Georgia Annotated, relating to local
government investment pool, is amended by revising subsection (a) of Code Section 36-83-8,
relating to local government investment pool, as follows:
"(a)(1) A local government investment pool is created, consisting of the aggregate of all
funds from local governments and all funds from other bodies created for a public
purpose which the State Depository Board has agreed to accept that are placed in the
custody of the state for investment and reinvestment as provided in this chapter.
(2)(A) Any pooled investment, in addition to the local government investment pool
created pursuant to paragraph (1) of this subsection, for the collective investment of two
or more local governments, shall be required to obtain the approval of the State
Depository Board prior to establishment.
(B) The requirements of subparagraph (A) of this paragraph shall not be applicable to
investment pools created pursuant to Code Section 36-83-6."
SECTION 2.
This Act shall become effective on July 1, 2026, and shall apply to pooled investments made
on or after such date.
SECTION 3.
All laws and parts of laws in conflict with this Act are repealed.
## Summaries written by Georgia Commons
The following was written by claude-sonnet-5 from the text above and is not part of the bill. Quote the text, not the summary.
A Georgia Senate bill would require new pooled investment programs created for two or more local governments to get approval from the State Depository Board before they can start operating, starting July 1, 2026.
### Plain-language summary
Georgia already runs a Local Government Investment Pool under O.C.G.A. Chapter 83 of Title 36, which lets local governments pool money together for investment under state oversight. This bill adds a new requirement: any separate pooled investment arrangement set up for two or more local governments to invest money together, beyond the existing state-run pool, must first get approval from the State Depository Board before it can be established.
The bill carves out one exception: pools already created under a different section of the law, O.C.G.A. § 36-83-6, do not need this new approval. The changes would take effect July 1, 2026, and would apply only to pooled investments made on or after that date, meaning existing arrangements would not be retroactively affected.
### What it does
- Requires any new pooled investment program serving two or more local governments to get State Depository Board approval before it can be established.
- Exempts pooled investments already created under O.C.G.A. § 36-83-6 from this new approval requirement.
- Sets an effective date of July 1, 2026, applying only to pooled investments made on or after that date.
### Who it affects
Georgia county and city governments and other public bodies that pool money together for investment, the State Depository Board that oversees state and local government banking and investment practices, and any financial firms or entities that organize multi-government investment pools.
### Why it matters
Local governments sometimes band together to invest funds jointly outside the state's main investment pool. This bill adds a state approval step before such arrangements can start, giving the State Depository Board oversight aimed at ensuring these pooled investments meet state standards before local tax dollars are placed in them.
### Key provisions
- Section 1 amends O.C.G.A. § 36-83-8(a) by adding new paragraph (2), requiring State Depository Board approval before establishing a pooled investment for two or more local governments.
- Section 1 exempts pools created under O.C.G.A. § 36-83-6 from the new approval requirement.
- Section 2 sets the effective date as July 1, 2026, and limits the law's application to pooled investments made on or after that date.
- Section 3 repeals any conflicting laws.
## Status
- Status: Passed (2026-05-11)
- Last action: Effective Date 2026-07-01 (2026-05-11)
- Sponsors: Marty Harbin, Ricky Williams, Chuck Hufstetler, John Albers, Jason T. Dickerson, Max Burns, Johnny Chastain
- Official page: https://www.legis.ga.gov/legislation/72632
> The history, votes, and amendments (953 characters) are at https://georgiacommons.org/bills/2025-2026/sb441.md?full=1