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Governor Deal Inaugurated for Second Term
Our congratulations and best wishes to Gov. Nathan Deal as he begins his second four-year term. From his swearing in ceremony Monday, to his address at the Georgia Chamber’s Eggs and Issues breakfast Tuesday, to his State of the State address Wednesday, to his inaugural gala Thursday, there was a renewed sense of optimism that his leadership will bode well for all of Georgia. His collaborative approach to problem solving with legislative leaders and other stakeholders like those of us in the business community will be essential as complex issues such as education and transportation are debated. GBA was happy to be a sponsor of his inaugural festivities and we look forward to working with Gov. Deal and his capable staff in the coming years.
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Legislature Off and Running
As Speaker David Ralston (R-Blue Ridge) and Lt. Gov. Casey Cagle gaveled the House and Senate to order Monday morning signaling the start of 2015 year of the biennial session, legislators were already busy talking about their agendas, getting used to some new faces, and learning their committee assignments. Greg Morris (R-Vidalia) will continue to serve as chairman of the House Banks and Banking Committee. In addition to returning members, several new members have joined this committee: Reps. John Deffenbaugh (R-Lookout Mountain), Mike Jacobs (R-Brookhaven) and Brian Strickland (R-McDonough). The Senate Banking and Financial Institutions Committee will have a new chairman this year, Burt Jones (R-Jackson), who is also new to the committee. Other new members of the committee will be Sens. Marty Harbin (R-Tyrone), John Kennedy (R-Macon), Michael “Doc” Rhett (D-Marietta), and Bruce Thompson (R-White).
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Legislative and Economic Forum & Legislative Reception Attract Hundreds of Bankers, State Officials
Our thanks to the many bankers who joined together this week to hear Lt. Gov. Casey Cagle, Atlanta Fed President Dennis Lockhart, political expert Matt Towery, and Banking Commissioner Kevin Hagler talk about the issues and political realities facing the industry. We had a good article in this week’s E-Bulletin talking about the Economic Forum so we won’t repeat that here. In addition to bankers from all over Georgia, the Legislative Reception drew hundreds of elected officials from the General Assembly, statewide office holders and the judiciary in an informal setting at the Fox Theatre. This is one of the most-anticipated events of the year and is held primarily to thank our elected leaders for their service and sacrifices they make to serve Georgia. These events would not be possible without the huge outpouring of support we get every year from bankers, and you came through for the industry again this year.
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40 Days and 40 Nights
You’ll hear long time Capitol observers talk about the General Assembly in terms of the 40 days they’re constitutionally allowed to meet and more often than not they’ll say "40 Days and 40 Nights." That’s not 40 consecutive days – it’s 40 calendar days of their choosing. The 40 Nights refers to a bygone era when most work was done outside the confines of the Capitol. This week, the General Assembly used four of those days and are out today, this coming Monday in recognition of the Martin Luther King, Jr. Holiday, and the rest of next week for budget hearings. The fifth legislative day will be Monday, Jan. 26. The legislators usually complete their session each year in late March or early April.
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Follow the Legislature’s Activities with GBA
We’ll be updating the State Issues page of our website daily throughout the session. We’ll be adding bills as they’re introduced and provide links to actual bill text as well as links so you can see each bill’s current status. We’ve already added three bills this week:
- Banker Recognition. SR 30 by Sen. Ed Harbison (D-Columbus) recognizes Kessel Stelling, Chairman & CEO, Synovus, for his overall leadership of the bank and numerous awards, including the Leadership Character Award from the Robert K. Greenleaf Center for Servant Leadership.
- Revenue and Taxes. HB 49 by Rep. Brett Harrell (R-Snellville) would allow taxpayers the option of receiving tax bills or delinquency notices electronically instead of by paper mail.
- Taxes – Property Redemption. HB 51 by Rep. Tommy Benton (R-Jefferson) would change the provisions about the amount of taxes payable upon redemption of a property sold for taxes, as well as establish timeframes for when the purchaser of a property is required to join a homeowners association and pay association dues.
At GBA’s Legislative and Economic Forum this week, Joe Brannen mentioned several bills we expect to see considered during what will be another busy session. Here are some takeaways from what he said:
- We’re supporting the Banking Department’s housekeeping bill that contains a positive parity provision for state chartered banks.
- We’ll also be supporting legislation that would create a titling mechanism for watercraft as well as legislation to ensure our liens are protected when drivers are using their personal vehicles with ridesharing companies like Uber.
- We’ll be opposing legislation expected to be introduced that would create a superlien for unpaid condo fees after a foreclosure as well as opposing efforts we expect that would reduce guarantor obligations.
- We don’t know yet if we’ll see it, but it’s possible the subcontractors will once again ask for notification when funding is in jeopardy for projects they’re working on for your contractor customer.
- We also might see legislation to create a new foreclosure process for properties sold after a judgment on a note is granted.
- Other bills we’ll monitor vary from a new licensing scheme by the Banking Department for the debt settlement industry, statutory penalties imposed for failing to record a deed following a foreclosure, self-administered trusts, changes to licensing requirements for notaries public, and potential changes to the garnishment process.
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GBA’s Advocacy Role Front and Center
Our members expect GBA to be out front telling the story of banking to elected officials, those in the media and others outside the industry who play such important roles in determining the future of our great industry. We do that in all sorts of ways, mostly by showing up and being active. GBA’s Senior Vice President, Government Relations, Elizabeth Chandler begins her 19th year and President and CEO Joe Brannen begins his 35th year representing the industry at the Capitol and elsewhere. We’ve already met with many in the leadership and rank and file members letting them know about the issues we expect to come up this year. Our outreach to the media continues as we’ve done background interviews with several Capitol reporters helping answer their questions about upcoming legislation and setting the stage for the year. Hometown bankers also play a role, so please respond quickly when we call on you for help. With questions throughout the session, contact Elizabeth at 404.420.2027 or Joe at 404.420.2026.
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