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GA SR883
Resolution
Status
Engrossed
2/26/2016
Primary Sponsor
Brandon Beach
Click for details
AI Summary
- Creates the Joint Study Committee on Industry Incentives for Financial Technologies and the Payment Processing Industry, composed of 8 members: 3 Senate appointees, 3 House appointees, the Commissioner of the Department of Economic Development (or designee), and the Chief Information Officer (or designee)
- Addresses Georgia's dominance in the payments processing sector known as "Transaction Alley," where over 70% of U.S. payments are processed and more than 60% of the financial transactions industry is housed, supporting over 40,000 direct and 40,000 indirect jobs
- Directs the committee to study conditions, needs, and issues related to industry incentives and regulatory challenges, and to recommend any necessary legislation to maintain Georgia's competitiveness in the global payment processing industry, which generates $65 billion in annual revenue
- Cochaired by the chairpersons of the Senate and House Economic Development and Tourism Committees, with the committee required to file its report prior to its abolishment date of December 1, 2016
- Legislative members receive allowances under Code Section 28-1-8 for up to five days, with funding drawn from Senate and House appropriations
Legislative Description
Incentives for Financial Technologies and the Payment Processing Industry; create joint study committee
Last Action
House Passed/Adopted
3/24/2016
Full Bill Text
No bill text available