HB1098: HB1098 Georgia Investment Act; enact

Georgia's OneGeorgia Authority currently helps fund economic development mostly in rural counties, and the bill's findings say this leaves out more than 4.3 million Georgians in counties that don't qualify, including many urban and suburban areas. HB1098 responds by creating a new trust fund, the Georgia Investment Act Pilot Fund, inside the state treasury to invest in underdeveloped communities regardless of whether they are rural or not. The OneGeorgia Authority would set eligibility rules based on measures like median household income, unemployment, poverty, infrastructure gaps, and a history of underinvestment; a county meeting at least three of five criteria would qualify. The authority must report spending to state budget offices each January and publish an annual public report. The bill also creates a 14-member Joint Legislative Oversight Commission on Georgia United Investment, drawn from specific metro Atlanta counties and legislative leadership appointees, to monitor the fund.

• Creates the Georgia Investment Act Pilot Fund as a state treasury trust fund fed by legislative appropriations, grants, donations, and other program funds for economic development.
• Directs the OneGeorgia Authority to set eligibility criteria for county disbursements based on income, unemployment, poverty, infrastructure gaps, and underinvestment history.
• Makes any county meeting three or more of five listed criteria eligible for funding regardless of its rural or nonrural designation.
• Requires the authority to report annual fund spending to state budget offices by January 1 and publish a yearly public report on applications, awards, and outcomes.
• Establishes a 14 member Joint Legislative Oversight Commission on Georgia United Investment to monitor how the fund is administered.
• Sets commission member terms at four years for legislatively appointed members and requires those appointments within 90 days of the law taking effect.

County governments, especially those currently excluded or only conditionally eligible for OneGeorgia Authority funding, including named counties like Clayton, Cobb, DeKalb, Douglas, Fayette, Fulton, Gwinnett, and Rockdale. It also affects the OneGeorgia Authority, state budget offices, and legislative leaders who make commission appointments.

Communities in urban and suburban counties that have not qualified for the state's main rural economic development program could gain access to state investment for job creation, housing, and infrastructure, changing which parts of Georgia receive this type of state economic development funding.

• Section 1 names the law the 'Georgia Investment Act.'
• Section 2 lays out legislative findings, noting over 4.3 million Georgians live in counties ineligible or only conditionally eligible for current OneGeorgia funding.
• New Code Section 50-34-21 establishes the Georgia Investment Act Pilot Fund in the state treasury and describes its funding sources and investment management by the state treasurer.
• Section 50-34-21(c) sets a five-factor eligibility framework for counties, requiring at least three criteria to qualify for disbursements.
• Section 50-34-21(d) and (e) require an annual accounting to state budget offices by January 1 and a published annual report on fund activity.
• New Code Section 50-34-22 creates the 14-member Joint Legislative Oversight Commission on Georgia United Investment, listing specific county and legislative appointment seats.
• Section 50-34-22(d) sets four-year terms for legislatively appointed commission members and a 90-day deadline for initial appointments after the law takes effect.
• Section 4 repeals conflicting laws.

1. 2026-02-03House Second Readers (House)
2. 2026-02-02House First Readers (House)
3. 2026-01-29House Hopper (House)

• Viola Davis (D, HD-087)Primary sponsor
• Sandra Scott (D, HD-076)
• Kim Schofield (D, HD-063)

• economic development funding
• OneGeorgia Authority
• county funding eligibility
• legislative oversight commission
• state investment fund