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Found 14 matching passages in 4 documents.
Meeting transcript · Georgia Senate Banking and Financial Institutions Committee · February 19, 2026
Senate Banking and Financial Institutions Committee, February 19, 2026
Summary by Georgia Commons (AI-written): The committee unanimously approved HB 945, covering suspected financial exploitation, cryptocurrency kiosks and litigation financing oversight, and SB 441, requiring state approval of certain local government investment pools. The committee also held a hearing on SB 424, which would recognize gold and silver as legal tender and establish oversight for storage and electronic payments. Supporters described it as a way to protect purchasing power and make gold easier to use. Opponents questioned the need for state involvement and raised concerns about competition, taxpayer risk and consumer confusion. No vote was taken on that proposal. The chair planned further consideration and a vote on Tuesday.
And then we would have the electronic side, which is the ability to transact. They're just like today, you can buy fractional shares of stocks, things of that nature. You can even have debit cards tied to stock accounts, if you will. This is doing just gold and silver, trying to line up with the Constitution and using the Constitution and our state rights...
Yes, it will. Under current scenario, yes. Because that is an account that's in your- Federal taxes? Federal and state taxes. Okay, so if we do this, then y- you wouldn't have to pay federal taxes? State tax. Federal tax. State. We would have to pay federal still under current scenario. It would be long-term capital gains, depending upon how long you kept...
Meeting transcript · Georgia Senate Banking and Financial Institutions Committee · March 17, 2026
Senate Banking and Financial Institutions Committee, March 17, 2026
Summary by Georgia Commons (AI-written): The committee considered four bills. Members voted on a recommendation to pass HB 948, which would add information about claiming leftover foreclosure-sale money to foreclosure notices, but the chair did not explicitly announce the result. The committee unanimously recommended passing HB 1024, which would increase the home equity people may keep in bankruptcy and adjust the limits for inflation. Members also approved HB 1134 with an amendment after discussing personal belongings in repossessed vehicles and protections against wrongful repossession. The committee held a hearing only on HB 1272, concerning state licensing and oversight of payment stablecoin issuers. Members asked about reserves, payments, privacy, revenue and theft risks. The chair said that bill would return to a later meeting, with no date announced.
Sure. We are looking at LC620306S, and this is, um, House Bill 948. All right. Floor is yours. All right. Thank you so much. All right. So someone in my district brought me a challenge. They were foreclosed on a couple years ago, and they found out later on that there was excess funds. They did not understand how to access those funds. Um, there are some...
I don't, but we got, uh, uh, Jeff's here. Yeah, Jeff Ledford with the Real- Jeff, you wanna take the podium for a minute? Sit here with Beth. She's over here. Okay. Thank you. Sure. Do you want me here or ... It don't matter. Yeah, I was just- Where you wanna be. Here, sit right there. I'm gonna change everyone once, once I- Proud to sit next to one of, uh,...
Meeting transcript · Georgia Senate Banking and Financial Institutions Committee · March 24, 2026
Senate Banking and Financial Institutions Committee, March 24, 2026
Summary by Georgia Commons (AI-written): The committee discussed HB 1272, which would establish state oversight of payment stablecoin issuers. Members asked about security, financial backing, issuer approval, transaction speed and borrowing against stablecoins. The sponsor said the proposal closely follows the federal GENIUS Act and would help Georgia lead other states in setting rules. No audience members testified. The committee approved a do-pass motion and sent the bill forward to Rules. No vote count was stated.
Okay, so a couple of things, if you don't mind, Senator Dickerson. Uh, first and foremost, again, I cannot stress enough from a fraudulent standpoint, there is no speculative nature to the stable coin. There would be no reason to short or long this, per se, currency. In other words, you, there is a reason to short or long a Bitcoin, for instance, or...
Right. Um, not only are we background-checked, not only are we basically looked at from a solvency standpoint, making sure we have the mechanism for the dedicated account, making sure we're not levering it, hypothecating it, et cetera. In other words, we have opened ourselves up to the scrutiny, and rightfully so, of the framework of the Department of...
Meeting transcript · Georgia Senate Banking and Financial Institutions Committee · February 24, 2026
Senate Banking and Financial Institutions Committee, February 24, 2026
Summary by Georgia Commons (AI-written): The committee continued its hearing on SB 424, which the sponsor described as allowing gold and silver to be used as money through regulated storage and electronic payments. Members questioned fees, fraud protection, investment risks, lost tax revenue and the need for state involvement. Witnesses supported recognizing gold and silver as legal tender but differed over the proposed depository system and the state's role. The committee voted 5–3 to advance the bill to Rules.
If you were on an international basis, the dollar goes up and down against, like, the euro, and so there's, you can, there's times that are there that it goes up, it goes down. But this would not charge the individual when he s- he sells his gold or, uh, spends it through the app, a capital gains, because it's gonna be declared as legal tender. Be treated...
You have credit cards and you have debit cards that are tied directly to accounts, if you will. And so there would be a fee that would be involved there. Now, one of the things that could happen is the state could actually have a piece of the f- uh, you know, a piece of, a fee. That could be another way that, uh, if the state wanted to do that or that...
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