Georgia CommonsHB1039: HB1039 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 with high poverty, unemployment, and underinvestment, including many urban and suburban counties currently excluded from such funding.
In plain language
The OneGeorgia Authority currently directs state economic development support mostly to rural counties, and the bill's findings say densely populated urban and suburban counties have been largely left out, with an estimated $26 billion in support withheld from counties affecting over 30 percent of Georgia's population over 20 years. House Bill 1039 responds by adding new sections to the law governing the OneGeorgia Authority (O.C.G.A. Chapter 34 of Title 50). It creates the Georgia Corrective Investment and Pilot Expansion Fund, a state treasury account funded by legislative appropriations, grants, and other sources, to support economic development in impoverished communities. Counties become eligible for money from the fund if they meet at least four of six listed criteria, such as below-average income, high unemployment, or a poverty rate above 20 percent, regardless of whether they are labeled rural or nonrural. The bill also creates a Small Business Access and Resiliency Program for loans, grants, and technical assistance, and establishes a 14 member Joint Legislative Oversight Commission on Georgia United Investment to monitor the fund, with annual accounting and reporting requirements.
What the bill does
- Creates the Georgia Corrective Investment and Pilot Expansion Fund, a state treasury trust fund to finance economic development in impoverished communities.
- Sets a six-factor eligibility test for counties (income, unemployment, poverty rate, infrastructure gaps, history of underinvestment, and minority or women owned business concentration); meeting four or more factors qualifies a county for funding regardless of rural or nonrural status.
- Establishes the Small Business Access and Resiliency Program to give loans, grants, and technical assistance to small businesses in eligible counties.
- Creates a 14-member Joint Legislative Oversight Commission on Georgia United Investment, made up mostly of local officials from named metro Atlanta area counties plus legislative appointees, to monitor the fund.
- Requires the OneGeorgia Authority to submit an annual fiscal accounting to state budget offices by January 1 and publish an annual public report on applications, awards, and outcomes.
Who it affects
County governments (especially Clayton, Cobb, DeKalb, Douglas, Fayette, Fulton, Gwinnett, and Rockdale counties named in the oversight commission), small businesses seeking loans or grants, the OneGeorgia Authority, the state treasurer's office, and legislative budget offices that receive the fund's annual accounting.
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 economic development money and small business assistance based on measurable hardship criteria rather than a rural-only designation, changing where state investment flows.
Key provisions
- Section 1 names the bill the 'Georgia Equitable Economic Development Act.'
- Section 2 lays out legislative findings, including the estimate that $26 billion in economic support has been withheld from counties over 20 years, affecting over 30 percent of the state's population.
- New Code Section 50-34-21 creates the Georgia Corrective Investment and Pilot Expansion Fund in the state treasury, funded by appropriations, grants, and other sources, with interest credited back to the fund.
- Section 50-34-21(c) sets the six eligibility criteria for counties and requires meeting at least four for fund access, regardless of rural or nonrural status.
- 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.
- Section 50-34-21(e) and (f) require an annual fiscal accounting to state budget offices by January 1 and an annual public report on county applications, awards, and outcomes.
- New Code Section 50-34-22 establishes the 14-member Joint Legislative Oversight Commission on Georgia United Investment, sets four-year terms for legislatively appointed members, and requires appointments within 90 days of the effective date.
- Section 4 repeals conflicting laws.
From the bill
“Any county meeting four or more of the criteria as provided in paragraph (1) of this55 subsection shall be deemed eligible to receive money from the fund, regardless of such56 county's designation as rural or nonrural.”
“An estimated 26 billion dollars in economic support has been20 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 assistance
- county funding
- poverty and underinvestment