GA HB1610

Creates new Chapter 83A in Title 36 of the Georgia Code establishing a comprehensive investment policy framework for counties, municipalities, consolidated governments, and local authorities, applying to surplus funds beyond current expenses but excluding pension funds and debt-related funds

Requires local governments that adopt written investment policies to prioritize safety of capital, sufficient liquidity, market rate of return, and portfolio diversification, while adhering to a "Prudent Person Rule" and written internal controls

Authorizes local governments with written investment policies to invest surplus funds in 15 categories of instruments, including U.S. Treasury obligations, agency debt, bank deposits secured at 110% collateral, investment-grade corporate obligations, commercial paper (capped at 5% per issuer), asset-backed securities, mortgage-backed securities, repurchase agreements, and Georgia local government investment pool funds

Limits local governments without written investment policies to only four investment types: Georgia Fund 1 and related state investment pools, government-only money market mutual funds, U.S. Treasury obligations, and secured bank deposits

Mandates 4 hours of annual continuing education on investment practices for officials making investment decisions, requires periodic public reporting of portfolio holdings and performance to the governing body, and requires certified public accountants to audit compliance with the new chapter