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GA HB1053
Bill
Status
Passed
5/6/2024
Primary Sponsor
Carter Barrett
Click for details
AI Summary
- Prohibits all Georgia governmental agencies—including boards, commissions, departments, authorities, and political subdivisions—from accepting central bank digital currency (CBDC) as payment
- Prohibits Georgia governmental agencies from participating in any testing or pilot programs involving central bank digital currency
- Defines "central bank digital currency" broadly to include digital currency issued by the Federal Reserve System, federal agencies, foreign governments, foreign central banks, or foreign reserve systems, whether made available to consumers directly, indirectly through third parties, or processed/validated by those entities
- Legislative findings cite concerns that a CBDC would threaten individual privacy and security, expand federal authority over Georgia residents, and undermine community banks and credit unions
- Amends Title 50 of the Official Code of Georgia Annotated by adding new Code section 50-1-12; passed both the House and Senate
Legislative Description
State government; prohibit governmental agencies from using central bank digital currency as payment
Last Action
Effective Date 2024-07-01
5/6/2024
Committee Referrals
Banking and Financial Institutions3/4/2024
Banks and Banking1/29/2024
Full Bill Text
No bill text available