Georgia 2021-2022 Regular Session Status: Passed House Bipartisan · 2 R · 1 D cosponsors

HB 899 — Contracts; legal effects of the discontinuance of LIBOR; provisions

Last action — Senate Tabled

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2021-2022 Regular Session. It reached “Passed House” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

A BILL to be entitled an Act to amend Title 13 of the O.C.G.A., relating to contracts, so as to provide for the legal effects of the discontinuance of LIBOR on contracts, securities, or instruments; to provide for the circumstances under which the recommended benchmark replacement shall be used and whether it is optional or mandatory; to provide that the use of such replacement does not amend or modify a contract, security, or instrument or change any person's rights or obligations; to prohibit parties from refusing to perform contractual obligations or declaring a breach of contract as a result of the discontinuance of LIBOR or the use of a replacement; to establish that the replacement is a commercially reasonable substitute for and a commercially substantial equivalent to LIBOR; to provide for a safe harbor from litigation for the use of the recommended benchmark replacement; to provide for definitions; to provide for related matters; to provide for an effective date; to repeal conflicting laws; and for other purposes.

Bill Text

We don't have the full text on file for this bill yet.

Read HB 899 on the official Georgia source →

Action History

  1. Senate Tabled

  2. Senate Third Read

  3. Senate Read Second Time

  4. Senate Committee Favorably Reported

  5. Senate Read and Referred

  6. House Passed/Adopted

  7. House Third Readers

  8. House Committee Favorably Reported

  9. House Withdrawn, Recommitted

  10. House Second Readers

  11. House First Readers

  12. House Hopper

Sponsors

Sponsorship breakdown

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3 sponsors · 0 co-sponsors · 244 not signed on

Sponsors (3)

Co-sponsors (0)

None.

Not signed on (244)

244 members have not signed on to this bill.

Show all 244 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

PASSAGE

Passed 154 Yea · 0 Nay · 26 Other
Party YeaNayPresentNot Voting
Democrat 32008
Unaffiliated 630014
Republican 59004
Total 1540026
% of votes cast 86%0%0%14%
How each member voted (180)
Member Party Vote
ALLEN — Yea
ANDERSON — Not Voting
ANULEWICZ — Yea
BARR — Yea
BELTON — Not Voting
BENTON — Yea
BEVERLY — Yea
BODDIE — Yea
BRUCE — Yea
BURNS — Yea
CANTRELL — Yea
CLARK — Not Voting
CLARK — Yea
CLARK — Not Voting
COLLINS — Yea
VACANT — Not Voting
DREYER — Yea
DUKES — Yea
ENGLAND — Yea
FRAZIER — Not Voting
GILLIGAN — Yea
GLANTON — Not Voting
GRAVLEY — Yea
HATCHETT — Yea
HILL — Yea
HOGAN — Yea
HOLMES — Yea
HOPSON — Yea
HOUSTON — Yea
HOWARD — Yea
JACKSON — Yea
JACKSON — Not Voting
JACKSON — Yea
JONES — Yea
JONES — Yea
JONES — Yea
KAUSCHE — Yea
KENNARD — Yea
KIRBY — Not Voting
KNIGHT — Not Voting
LARICCIA — Yea
LOPEZ — Yea
LOTT — Yea
MAINOR — Not Voting
MARIN — Not Voting
MCLEOD — Yea
METZE — Yea
MOORE — Yea
MOORE — Yea
NGUYEN — Yea
NIX — Yea
PIRKLE — Yea
PRUITT — Yea
RALSTON — Not Voting
RICH — Yea
RIDLEY — Yea
ROBICHAUX — Yea
SHANNON — Yea
SINGLETON — Yea
SMITH — Yea
SMITH — Yea
SMITH — Yea
SMITH — Yea
SMITH — Yea
SMYRE — Yea
TANKERSLEY — Yea
TAYLOR — Yea
TAYLOR — Yea
THOMAS — Yea
THOMAS — Yea
THOMAS — Yea
WATSON — Yea
WILENSKY — Yea
WILLIAMS — Yea
WILLIAMS — Yea
WILLIAMS — Yea
WILSON — Not Voting
Betsy Holland Democrat Yea
Billy Mitchell Democrat Yea
Billy Mitchell Democrat Yea
Brian Prince Democrat Yea
Carl Gilliard Democrat Yea
Carolyn Hugley Democrat Yea
Dar'shun Kendrick Democrat Yea
David Wilkerson Democrat Yea
Debbie Buckner Democrat Yea
Debra Bazemore Democrat Not Voting
Demetrius Douglas Democrat Yea
Derek Mallow Democrat Not Voting
Dewey McClain Democrat Yea
Dexter Sharper Democrat Not Voting
Doreen Carter Democrat Yea
El-Mahdi Holly Democrat Yea
Josh McLaurin Democrat Yea
Karen Bennett Democrat Yea
Karla Drenner Democrat Yea
Kim Schofield Democrat Yea
Kimberly Alexander Democrat Yea
Marvin Lim Democrat Yea
Mary Oliver Democrat Yea
Miriam Paris Democrat Yea
Park Cannon Democrat Yea
Patty Marie Stinson Democrat Not Voting
Regina Lewis-Ward Democrat Not Voting
Rhonda Burnough Democrat Yea
Sam Park Democrat Not Voting
Sandra Scott Democrat Yea
Scott Holcomb Democrat Not Voting
Sharon Henderson Democrat Not Voting
Shea Roberts Democrat Yea
Sheila Nelson Democrat Yea
Shelly Hutchinson Democrat Yea
Spencer Frye Democrat Yea
Stacey Evans Democrat Yea
Stacey Evans Democrat Yea
Viola Davis Democrat Yea
Yasmin Neal Democrat Yea
Alan Powell Republican Yea
Beth Camp Republican Yea
Bill Hitchens Republican Yea
Bill Werkheiser Republican Yea
Bill Yearta Republican Yea
Bruce Williamson Republican Yea
Buddy DeLoach Republican Yea
Butch Parrish Republican Yea
Charles Martin Republican Yea
Charlice Byrd Republican Not Voting
Chris Erwin Republican Yea
Chuck Efstration Republican Yea
Clint Crowe Republican Yea
Dale Washburn Republican Yea
Danny Mathis Republican Not Voting
David Jenkins Republican Yea
Devan Seabaugh Republican Yea
Don Parsons Republican Yea
Ed Setzler Republican Yea
Eddie Lumsden Republican Yea
Emory Dunahoo Republican Yea
Gerald Greene Republican Yea
Ginny Ehrhart Republican Yea
Houston Gaines Republican Yea
James Burchett Republican Yea
Jesse Petrea Republican Yea
Joe Campbell Republican Yea
John Carson Republican Yea
John Corbett Republican Yea
John LaHood Republican Yea
Joseph Gullett Republican Yea
Josh Bonner Republican Yea
Karen Mathiak Republican Yea
Kasey Carpenter Republican Yea
Katie Dempsey Republican Yea
Lauren McDonald III Republican Yea
Lee Hawkins Republican Yea
Leesa Hagan Republican Not Voting
Mandi Ballinger Republican Yea
Marcus Wiedower Republican Yea
Mark Newton Republican Yea
Martin Momtahan Republican Yea
Matt Barton Republican Yea
Matt Dubnik Republican Yea
Matthew Gambill Republican Yea
Mike Cameron Republican Yea
Mike Cheokas Republican Yea
Mitchell Scoggins Republican Yea
Noel Williams, Jr. Republican Yea
Rick Jasperse Republican Yea
Rob Leverett Republican Yea
Robert Dickey Republican Yea
Ron Stephens Republican Yea
Sharon Cooper Republican Not Voting
Shaw Blackmon Republican Yea
Stan Gunter Republican Yea
Steve Tarvin Republican Yea
Steven Meeks Republican Yea
Steven Sainz Republican Yea
Tim Fleming Republican Yea
Trey Kelley Republican Yea
Trey Rhodes Republican Yea
Will Wade Republican Yea

Official roll call →

Subjects

finance
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Frequently asked questions

What does HB 899 do?
A BILL to be entitled an Act to amend Title 13 of the O.C.G.A., relating to contracts, so as to provide for the legal effects of the discontinuance of LIBOR on contracts, securities, or instruments; to provide for the circumstances under which the recommended benchmark replacement shall be used and whether it is optional or mandatory; to provide that the use of such replacement does not amend or modify a contract, security, or instrument or change any person's rights or obligations; to prohibit parties from refusing to perform contractual obligations or declaring a breach of contract as a result of the discontinuance of LIBOR or the use of a replacement; to establish that the replacement is a commercially reasonable substitute for and a commercially substantial equivalent to LIBOR; to provide for a safe harbor from litigation for the use of the recommended benchmark replacement; to provide for definitions; to provide for related matters; to provide for an effective date; to repeal conflicting laws; and for other purposes.
Who sponsors HB 899?
HB 899 is sponsored by Bruce Williamson (Republican), Noel Williams, Jr. (Republican), and David Wilkerson (Democrat).
What is the current status of HB 899?
This bill died with 2021-2022 Regular Session. It reached “Passed House” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HB 899?
Track HB 899 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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