GA HB1272

Creates the "Georgia Payment Stablecoin Act" to implement Section 4(c) of the federal GENIUS Act (Pub. L. No. 119-27), establishing a licensing framework for payment stablecoin issuers through the Georgia Department of Banking and Finance

Requires licensed payment stablecoin issuers to maintain reserves backing outstanding stablecoins at least 1:1, composed of U.S. currency, Treasury bills (93 days or less maturity), demand deposits at insured institutions, or government money market funds

Prohibits unlicensed persons from issuing payment stablecoins in Georgia; beginning July 18, 2028, only licensed, permitted, or state-qualified issuers may offer or sell payment stablecoins

Licensed issuers must maintain an office in Georgia, undergo annual examinations, submit audited financial statements, certify anti-money laundering compliance within 180 days of approval, and publicly disclose redemption policies and reserve compositions monthly

Effective date is the earlier of January 18, 2027, or 120 days after final implementing regulations for the federal GENIUS Act are issued, subject to General Assembly appropriations