Plain English Breakdown
Definitions for terms like 'Pilot Fund' were removed because they do not appear verbatim or explicitly defined in the provided official text.
Georgia Investment Act: Pilot Fund and Oversight Commission
This bill creates a new fund to invest in underdeveloped communities across Georgia and establishes a commission to oversee the program.
What This Bill Does
- Creates the Georgia Investment Act Pilot Fund for state investment projects.
- Establishes the Joint Legislative Oversight Commission on Georgia United Investment.
- Sets rules, criteria, and limits for spending money from the new fund.
- Requires annual accounting of funds and yearly reports to be made public.
- Defines how many members must attend commission meetings to hold a vote.
Who It Names or Affects
- Underdeveloped communities across Georgia that may receive investment.
- The Joint Legislative Oversight Commission on Georgia United Investment.
- State agencies managing the OneGeorgia Authority under Chapter 34 of Title 50.
Limits and Unknowns
- No effective date is listed, so it is unknown when these rules officially begin.
- The specific amount of money in the Pilot Fund and detailed criteria for 'underdeveloped' communities are not described in this summary.