Plain English Breakdown
While the bill creates a commission, its specific members and meeting schedules are mentioned only generally in the summary text without detailed definitions.
Georgia Equitable Economic Development Act
This bill creates a new fund and program to invest state money in impoverished communities, establishes rules for spending that money, and sets up an oversight commission.
What This Bill Does
- Creates the Georgia Corrective Investment and Pilot Expansion Fund.
- Establishes the Small Business Access and Resiliency Program.
- Forms the Joint Legislative Oversight Commission on Georgia United Investment to manage these efforts.
- Sets criteria and limitations for when money can be given out from the new fund.
- Requires yearly accounting and reporting of how funds are used.
Who It Names or Affects
- Impoverished communities across Georgia
- Small businesses in those areas
Limits and Unknowns
- The text does not state the total amount of money in the new fund.
- The specific criteria for which communities qualify as impoverished are not listed here.
- The effective date when this law begins is not provided.