WeVote
Log In

Bill

Bill

SR 493

Children First Trust Fund; creation; authorize General Assembly - CA

2025-2026 Regular Session Introduced by Jason Esteves and 11 co-sponsors

Senate Resolution 493 creates a $2 billion Children First Trust Fund in Georgia to provide ongoing financial assistance for child care, benefiting families and providers.

Senate Read and Referred
0
WeVote Research Nonpartisan
Bill Summary · SR 493

Summary of Senate Resolution 493 (SR 493)

Bill Overview

Bill Number: SR 493
Title: Children First Trust Fund; creation; authorize General Assembly - CA
Status: Senate Read and Referred
Introduced: March 28, 2025
Classification: Resolution

Senate Resolution 493 proposes an amendment to the Georgia Constitution to establish a Children First Trust Fund aimed at providing financial assistance for child care services in the state.

Purpose and Intent

The primary intent of SR 493 is to create a dedicated fund that will support child care services through scholarships, grants, and other forms of financial assistance. This initiative seeks to enhance access to quality child care for families in Georgia, thereby promoting child development and supporting working parents.

Key Provisions

  1. Creation of the Trust Fund:

    • The resolution authorizes the General Assembly to create the Children First Trust Fund.

  2. Initial Appropriation:

    • A one-time appropriation of $2 billion from the Revenue Shortfall Reserve will be allocated to the fund upon its establishment.

  3. Use of Funds:

    • Funds in the Children First Trust Fund will be used exclusively for:
      • Scholarships
      • Grants
      • Other forms of financial assistance for child care services.
    • Importantly, these funds will not lapse, meaning they will remain available for use in future years.

  4. Investment of Funds:

    • A portion of the appropriated funds will be invested and reinvested as permitted by law.
    • Returns generated from these investments will also be utilized to provide financial assistance for child care services.

  5. Ratification Process:

    • The proposed amendment will be submitted for ratification or rejection by voters, with a ballot question asking whether the Constitution should be amended to authorize the creation of the trust fund.

Affected Parties

  • Families in Georgia: The primary beneficiaries will be families needing financial assistance for child care services.
  • Child Care Providers: Increased funding may lead to enhanced services and support for child care providers across the state.

Procedural Aspects

  • The resolution was read and referred to the Senate on March 31, 2025, shortly after its introduction.
  • If ratified, the amendment will become part of the Georgia Constitution, allowing the General Assembly to implement the provisions outlined in the resolution.

Conclusion

Senate Resolution 493 represents a significant step towards improving access to child care services in Georgia. By establishing a dedicated trust fund, the resolution aims to provide ongoing financial support to families, thereby fostering a more supportive environment for child development and working parents. The successful ratification of this amendment will depend on voter approval in the upcoming election.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.