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HR 6

Congratulating the Trinity Lutheran High School girls volleyball team.

2025 Regular Session Introduced by Ryan Lauer and 1 co-sponsor

HR 6 allows Georgia to create multiple Seed-Capital Funds to provide financial support for small, innovative firms, boosting economic growth and job creation.

Representative Lauer added as coauthor
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Bill Summary · HR 6

Summary of House Resolution 6 (HR 6)

Purpose and Intent

House Resolution 6 (HR 6) aims to amend the Constitution of Georgia to authorize the General Assembly to create more than one Seed-Capital Fund. These funds are intended to support small, young, entrepreneurial firms engaged in innovative sectors such as technology, manufacturing, or agriculture. The resolution seeks to enhance the state's ability to provide financial resources to foster innovation and economic growth.

Key Provisions

The resolution proposes the following amendments to Article III, Section IX, Paragraph VI of the Georgia Constitution:

  • Creation of Multiple Seed-Capital Funds: The General Assembly will be empowered to establish one or more Seed-Capital Funds.

  • Disbursement of Funds: Funds will be disbursed at the direction of the Advanced Technology Development Center of the University System of Georgia. These funds will provide equity and other forms of capital to eligible firms.

  • Forms of Financial Support: The funds may be disbursed as loans or investments, which will include provisions for repayment, rents, dividends, royalties, or other returns on investments.

  • Reinvestment of Returns: Any returns received from loans or investments will be reinvested into the Seed-Capital Fund for further disbursement.

  • Exemption from Lapsing Provisions: Moneys appropriated to these funds will not be subject to lapsing provisions outlined in Article III, Section IX, Paragraph IV(c) of the Constitution.

  • Legislative Authority: The General Assembly will have the authority to legislate on matters related to the purpose and provisions of this amendment.

Affected Parties

The primary beneficiaries of this resolution will be small, young, and innovative firms in Georgia, particularly those in technology, manufacturing, and agriculture sectors. The resolution aims to stimulate economic development and job creation by providing these firms with necessary capital.

Procedural Aspects

  • Introduced: January 13, 2025
  • Adopted: January 17, 2025
  • Voting Outcome: The resolution was adopted with several representatives voting aye with reservations, one representative voting no, and three representatives excused from voting.

Legislative Actions Timeline

  • January 13, 2025: Introduced and placed in the House Hopper.
  • January 14, 2025: First reading in the House.
  • January 15, 2025: Second reading in the House.
  • January 16, 2025: Offered and scheduled for final adoption.
  • January 17, 2025: Adopted in final form.

Conclusion

HR 6 represents a significant step towards enhancing Georgia's support for innovative small businesses through the establishment of Seed-Capital Funds. By amending the state constitution, the General Assembly aims to provide a more robust framework for funding entrepreneurial ventures that can drive economic growth and technological advancement in the state.

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

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