A BILL to be entitled an Act to amend Title 7 of the Official Code of Georgia Annotated, relating to banking and finance, so as to provide for the creation of first-time homebuyer savings accounts; to provide for contributions by account holders to accounts; to provide for transfer of beneficiaries; to provide for annual reporting; to provide for certain exemptions from certain requirements for financial institutions; to provide for tax deductions; to provide for tax deduction limits; to provide for unqualified withdrawal penalties and exceptions; to permit the Department of Revenue to impose penalties for fraudulent activity; to require the Department of Revenue to create certain forms; to provide for a short title; to provide for purpose; to provide for definitions; to provide for related matters; to provide for an effective date and applicability; to repeal conflicting laws; and for other purposes.