Atlanta, GA – Governor Brian P. Kemp presented his recommendations for the AFY 2023 and FY 2024 budgets to the General Assembly today via the annual Budget Report. The items included within the report are designed to meet the state's financial obligations while also investing in the education, health, and safety of its citizens and to maintain Georgia's position as the best state in the country to live, work, and raise a family. These proposals follow yet another record-breaking year for Georgia's economy, with unprecedented levels of new jobs and investments announced throughout the state in 2022.
To further expound on the benefits of the AFY 2023 and FY 2024 budget proposals, Governor Kemp will address the Joint Budget Hearings next week remotely from Davos, Switzerland, where he will be sharing with world leaders why Georgia's conservative record and economic success story can serve as a model for other states and nations.
Notable budget proposals in this year's report include:
- $1 billion to provide a second state income tax refund, ranging from $250 for single filers to $500 for joint filers, to every eligible taxpayer in Georgia.
- $1.1 billion for a one-time Homeowner Tax Relief Grant program which will provide property tax relief of, on average, $500 for every eligible homeowner.
- An additional $745 million in AFY 2023 and more than $1.1 billion in FY 2024 for K-12 education, fully funding the Quality Basic Education formula.
- $303 million to adjust the state base salary schedule to give certified education personnel a $2,000 raise. This will bring the total pay increase for educators under Governor Kemp's administration to $7,000.
- $15 million in grant funds to encourage paraprofessionals to pursue teaching certification, growing the teacher workforce.
- $115 million in AFY 2023 for $50,000 school safety grants to every K-12 school in the state.
- $26.9 million to increase funding for school counselors to help address student emotional and mental well-being.
- $25 million for learning loss grants to allow schools to tailor programs to fit the unique needs of their student body.
- An additional $61.2 million to fully fund HOPE scholarship and grant awards at 100 percent of tuition at all Georgia public higher education institutions (saving full-time students an average of $444 each year).
- $166.7 million in the Amended FY 2023 budget for the Regional Economic Business Assistance program that will assist local governments in providing incentives to support business development statewide.
- A reallocation of $35.7 million within OneGeorgia to establish the Rural Workforce Housing Fund, allowing local development and housing authorities to prepare land for housing developments to support upcoming economic development projects and ensure the workforce has access to quality housing opportunities.
- $52 million to implement the Georgia Pathways to Coverage program established by the Patients First Act to increase health insurance access statewide.
- $92 million in both the AFY and FY budgets for the state reinsurance program to reduce insurance premiums and increase affordability of healthcare. With this program, Georgians have seen not only an increase in healthcare insurance options but also meaningful savings, with an average decrease in premiums of 12.4 percent.
- $3.2 million for a loan repayment plan for state and local law enforcement, providing up to 800 officers with loan repayment of up to $20,000 per officer in exchange for five years of service.
- $243 million in FY 2024 to provide state law enforcement and other state employees with a cost-of-living pay increase of $2,000.