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Bill Summary · HB 159

Summary of House Bill 159 (HB 159)

Purpose and Intent

House Bill 159 aims to amend Chapter 26 of Title 50 of the Official Code of Georgia Annotated, specifically concerning the Georgia Housing and Finance Authority (GHFA). The primary intent of the bill is to increase the outstanding bond limits for the GHFA, thereby enhancing its capacity to finance housing and related projects.

Key Provisions

The bill introduces several significant changes to the existing bond limits and regulations:

  1. Increase in Bond Limits:

    • The aggregate amount for bonds and notes related to the single-family residential housing program is raised from $3 billion to $6 billion.
    • The limit for bonds and notes for financing enterprises (excluding health facilities and housing) remains at $140 million.
    • The limit for financing health care services is set at $30 million.

  2. Exemptions from Regulations:

    • The GHFA's obligations are not subject to the Georgia Uniform Securities Act of 2008.
    • Any limitations regarding interest rates from the Revenue Bond Law or state usury laws do not apply to bonds issued by the authority.

  3. Effective Date:

    • The act will become effective upon approval by the Governor or automatically upon becoming law without such approval.

  4. Repeal of Conflicting Laws:

    • The bill includes a provision to repeal any laws that conflict with this act.

Impact

The passage of HB 159 is expected to have several implications:

  • Increased Financing Capacity: By raising the bond limits, the GHFA can potentially finance more housing projects, which may lead to increased availability of affordable housing in Georgia.
  • Support for Health Care Services: The specified limits for health care financing could facilitate the development of health facilities, thereby improving access to health care services in the state.
  • Economic Growth: The increased capacity for financing could stimulate economic growth through construction and related job creation.

Legislative Timeline

  • Introduced: January 28, 2025
  • Passed by House: March 6, 2025
  • Passed by Senate: March 21, 2025
  • Signed by Governor: May 13, 2025
  • Effective Date: May 13, 2025

Conclusion

House Bill 159 represents a significant legislative effort to enhance the financial capabilities of the Georgia Housing and Finance Authority. By increasing bond limits and providing exemptions from certain regulations, the bill aims to facilitate housing development and improve access to health care services in Georgia.

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

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