HB 1039: Georgia Equitable Economic Development Act; enact

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.

• 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.

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.

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.

• 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.

1. 2026-01-29House Second Readers (Cámara de Representantes)
2. 2026-01-28House First Readers (Cámara de Representantes)
3. 2026-01-27House Hopper (Cámara de Representantes)

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

• economic development
• OneGeorgia Authority
• small business funding
• county funding equity
• legislative oversight commissions