---
type: "Bill"
title: "Public Retirement Systems Investment Authority Law; provide for a fiduciary duty"
description: "A BILL to be entitled an Act to amend Article 7 of Chapter 20 of Title 47 of the Official Code of Georgia Annotated, the \"Public Retirement Systems Investment Authority Law,\" so as to provide for a fiduciary duty to invest retirement assets solely in the financial interest of participants and their beneficiaries; to provide for duties; to provide for delegation of duties; to provide for objective; to provide for conformance; to provide for a definition; to provide for related matters; to provide for an effective date; to repeal conflicting laws; and for other purposes."
jurisdiction: "us/states/ga"
legislature: "Georgia General Assembly"
session: "2023_24"
identifier: "HB 481"
citation: "Georgia HB 481 (2023_24)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["Brad Thomas", "Charles Martin", "Chris Erwin", "Darlene Taylor", "John Carson", "Trey Kelley"]
version_count: 6
action_count: 15
vote_count: 2
first_action: "2023-02-16"
last_action: "2024-07-01"
source: "openstates"
source_identifier: "ocd-bill/65df0933-40f5-4579-932a-4c1363c738b8"
source_url: "http://webservices.legis.ga.gov/GGAServices/Legislation/Service.svc?wsdl"
source_hash: "027a9cb9d6a7d6a1e661a93a7651f97283c3f67028162d50530687957f454613"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-ga"]
---

# Georgia HB 481 (2023_24) — Public Retirement Systems Investment Authority Law; provide for a fiduciary duty

A BILL to be entitled an Act to amend Article 7 of Chapter 20 of Title 47 of the Official Code of Georgia Annotated, the "Public Retirement Systems Investment Authority Law," so as to provide for a fiduciary duty to invest retirement assets solely in the financial interest of participants and their beneficiaries; to provide for duties; to provide for delegation of duties; to provide for objective; to provide for conformance; to provide for a definition; to provide for related matters; to provide for an effective date; to repeal conflicting laws; and for other purposes.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Auditor's Certification** (committee substitute) — [source](http://www.legis.ga.gov/Legislation/20232024/215177.pdf)
2. **Auditor's Certification LC 56 0143S** (committee substitute) — [source](http://www.legis.ga.gov/Legislation/20232024/224875.pdf)
3. **HB 481/AP*** (committee substitute) — [source](http://www.legis.ga.gov/Legislation/20232024/227065.pdf)
4. **LC 43 2649/a** (committee substitute) — [source](http://www.legis.ga.gov/Legislation/20232024/215143.pdf)
5. **LC 56 0143S/hcs** (committee substitute) — [source](http://www.legis.ga.gov/Legislation/20232024/225593.pdf)
6. **LC 56 0143S/hs** (committee substitute) — [source](http://www.legis.ga.gov/Legislation/20232024/224872.pdf)

## Votes

- Senate Vote #649 - 2023-2024 Regular Session — **50–0** (pass) · upper
- House Vote #560 - 2023-2024 Regular Session — **114–51** (pass) · lower

## Sponsors

- Brad Thomas — primary (person)
- Charles Martin — primary (person)
- Chris Erwin — primary (person)
- Darlene Taylor — primary (person)
- John Carson — primary (person)
- Trey Kelley — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2023-02-16** House Hopper `introduction`
- **2023-02-16** House First Readers `reading-1`
- **2023-02-21** House Second Readers `reading-2`
- **2024-02-21** House Committee Favorably Reported By Substitute `committee-passage-favorable`
- **2024-02-26** House Third Readers `reading-3`
- **2024-02-26** House Passed/Adopted By Substitute `passage`
- **2024-02-27** Senate Read and Referred `referral-committee`
- **2024-03-08** Senate Committee Favorably Reported `committee-passage-favorable`
- **2024-03-11** Senate Read Second Time `reading-2`
- **2024-03-13** Senate Third Read `reading-3`
- **2024-03-13** Senate Passed/Adopted `passage`
- **2024-04-01** House Sent to Governor `executive-receipt`
- **2024-05-06** House Date Signed by Governor `executive-signature`
- **2024-05-06** Act 587 `executive-signature`
- **2024-07-01** Effective Date

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/65df0933-40f5-4579-932a-4c1363c738b8`. Confidence: reported (aggregated from official Georgia legislature records).