House Rules Committee, March 31, 2026 Video: https://vimeo.com/1178931120 (a timestamp t plays at https://vimeo.com/1178931120#t=s) Page: https://georgiacommons.org/meetings/2026-03-31/house-rules-3 This is a machine transcript of the General Assembly's video, made by a speech-recognition model. It is not an official record and can mishear words, names, and numbers. Speakers are not identified. The video is the record: every timestamp links to the moment it plays. [0:23:57] Good evening, everybody. [0:24:07] We'll, we'll call the meeting to order, please. Okay. Sue Harbin, come on up and tell us what you got there. [0:24:18] Thank you, Mr. Chairman. I appreciate it. Thank you for opening up for us, uh, on, uh, two- 261. Basically, this is a magistrate judge bill. Does not take any state funds. It's all self-funded. But the substitute bill would change the formula for calculating the retirement allowances. And currently, members receive a benefit equal to four percent of their average final monthly benefits allowed in each se... The bill allows them to put more in, but does not require any, uh, state money or additional funding. [0:24:51] Okay. You have a question, Chairman Carson? [0:24:56] Thank you, Senator. Uh, is it not true that the, this bill, in regards to the magistrate's fund, is it not true that this bill is endorsed by, uh, the magistrates and by the magistrate's pension fund itself? [0:25:06] That is correct, sir. [0:25:07] Is it als- also not further true that this plan is 147% funded before this bill and 120%, 126% funded for the actuaries after this bill? [0:25:18] I believe it's 140 and then 126 after this change. [0:25:21] Got it. Thank you, sir. [0:25:23] Okay, I don't see any other questions. [0:25:25] Okay. Thank you so much. Have a good evening. [0:25:27] Yes, sir. Okay, um, gonna recognize, uh, Chairman Carson to speak to Senate, the rules to Senate Bill 23. [0:25:38] Thank you, Mr. Chairman. Uh, this is a, a bill that's been brought to us by, um, various groups that are looking to diversify their retirement holdings. The only change, uh, this is, uh, from the, the prior, uh, Senate Bill 23, is on line 31 to 34. We've heard from some members just to make sure that when we're doing alternative investments, that we're not allowing private equity and private debt, uh, investments into single-family homes and large portfolios and so forth. [0:26:09] So what we put in, uh, line 31 provided further that no such investment shall be made in investment vehicles investing in, and all the wording, single-family homes or residences. And so that's all the bill does. It's about diversification as, uh, uh, in regard to some of the large retirement systems that we oversee. [0:26:31] Any questions? Don't see any questions. Do I hear a motion that we approve the substitute Senate Bill 23 LC 560712S? [0:26:43] Move. [0:26:43] Have a move and a second. Any, any opposition? Okay, it's approved. Okay, now, let's set a sup- a second supplemental calendar. House Resolution, House Resolution 713. [0:27:02] Move. [0:27:03] Have a move and a second. Is there any opposition? It's on. House Resolution 1007. [0:27:12] Move. [0:27:13] Moved and second. Any opposition? It's on. Okay, Senate Bill 23 substitute LC 560712S. [0:27:25] Move. [0:27:26] Have a move and a second. Any opposition? It's on. Senate Bill 261. [0:27:33] Move. [0:27:35] Moved and second. Any opposition? It's on. Senate Bill 431. [0:27:42] Move. [0:27:42] Second. Moved and second. Any opposition? It's on. Senate Bill 591. [0:27:49] Move. [0:27:50] Second. Moved and second. Any opposition? It's on. I hope that this will be the last time I have to see you all tonight. I know you'll be happy that you don't have to see me anymore. But, uh, our next scheduled meeting, uh, Thursday at 9:00 AM. Okay? Thank you all. We're dismissed.