Georgia CommonsHouse · Introduced · 2025-2026 Regular Session
HB 1180: Georgia Housing and Finance Authority; eliminate outstanding bond limit
Last action February 19, 2026 · House Withdrawn, Recommitted
House Bill 1180 would remove the dollar caps on bonds the Georgia Housing and Finance Authority can have outstanding for single-family housing, other enterprises, and health care financing, while requiring bonds to state they are not backed by the state's credit.
The summaries below were written by an AI model (claude-sonnet-5) from the text of the bill and are not part of it. Quote the text, not the summary. The stored text is the Introduced version, the latest the General Assembly's website lists.
In plain language
Current Georgia law limits how much debt the Georgia Housing and Finance Authority can have outstanding at once: $6 billion for single-family residential housing bonds, $140 million for financing other enterprises (with a cutoff after June 30, 1995), and $30 million for health care services financing. This bill removes all three of those dollar limits from Georgia's code (O.C.G.A. § 50-26-10). In place of the limits, the bill adds a new requirement that every bond the authority issues must print a statement on its face saying the bond does not count as debt of the State of Georgia or a pledge of the state's full faith and credit. The bill keeps the existing rule that state usury and interest rate laws do not apply to the authority's bonds. It would take effect immediately if signed by the Governor, or automatically become law without a signature.
What the bill does
- Removes the $6 billion cap on outstanding bonds and notes for the authority's single-family residential housing program.
- Removes the $140 million cap and the June 30, 1995 issuance cutoff for bonds financing other enterprises besides housing and health facilities.
- Removes the $30 million cap on outstanding bonds and notes for financing health care services.
- Adds a requirement that every bond issued by the authority state on its face that it is not a debt of the State or a pledge of the state's credit.
- Keeps the existing exemption of the authority's bonds from Georgia's usury laws and other interest rate limits.
Who it affects
The Georgia Housing and Finance Authority, which issues bonds to fund housing and health facility projects; bond investors and underwriters who buy the authority's debt; and Georgia taxpayers, since the bill clarifies the bonds are not backed by state credit even as the borrowing limits disappear.
Why it matters
Without the current dollar caps, the authority could issue significantly more debt for housing and other financing than current law allows. The required disclosure statement makes clear that bondholders, not the state, bear the risk if the authority cannot repay.
Key provisions
- Section 1 strikes paragraphs (1) through (3) of O.C.G.A. § 50-26-10(i), eliminating the $6 billion single-family housing bond cap, the $140 million other-enterprise cap, and the $30 million health care financing cap.
- Section 1 adds new language requiring all bonds issued by the authority to state they do not constitute a debt of the State or a pledge of the state's faith and credit.
- Section 1 retains the existing rule that state usury laws and interest rate limits do not apply to the authority's bonds.
- Section 2 makes the Act effective immediately upon the Governor's approval or upon becoming law without approval.
- Section 3 repeals any conflicting laws.
From the bill
“All bonds issued by the authority pursuant to this chapter shall include on the face of such bonds the following statement: 'The Bond(s) will not be deemed to constitute a debt of the State or its agencies or a pledge of the faith and credit of the State or its agencies.'”
Discussed in meetings (6)
The House and Senate meetings that took this bill up, from their machine transcripts. Each account was written by Georgia Commons with AI and is not part of the record; the video is what was said.
House Governmental Affairs Committee, February 11, 2026
From 1:02:34 · Watch on the General Assembly's Vimeo channel
Summary by Georgia Commons: The sponsor said HB 1180 would remove the Georgia Housing and Finance Authority’s statutory bond limit, following an increase from $3 billion to $6 billion the previous year. The sponsor said the bonds support Georgia Dream and other homeownership programs, are backed only by the authority rather than the state, and remain subject to Georgia State Financing and Investment Commission oversight. The sponsor argued that removing the limit would prevent funding interruptions when the legislature was unavailable to raise it, and described a first-time homebuying couple who used Georgia Dream after a federal shutdown delayed a USDA loan. A Department of Community Affairs deputy commissioner said the financing supports a statewide lender network serving first-time buyers, veterans, educators, healthcare workers and public safety workers. Asked whether the current limit had been reached, the presenters said it had not and could be reached in 2027, depending on market conditions. The committee approved the bill by voice vote, with no opposition recorded.
House Rules Committee, February 17, 2026
From 0:36:36 · Watch on the General Assembly's Vimeo channel
Summary by Georgia Commons: The sponsor said the bill would remove the statutory cap on Georgia Housing and Finance Authority mortgage revenue bonds used for the Georgia Dream mortgage program. The sponsor described the cap as arbitrary and said the bonds are backed only by the authority, not the state's full faith and credit, and are overseen by the Georgia State Financing and Investment Commission. No questions or decision followed.
House Rules Committee, February 19, 2026
From 0:42:58 · Watch on the General Assembly's Vimeo channel
Summary by Georgia Commons: The committee placed HB 1180 on Thursday’s floor calendar under modified structured rules after a motion and second. No opposition was voiced, and there was no substantive discussion.
House floor session, February 19, 2026 (legislative day 21)
From 1:49:58 · Watch on the General Assembly's Vimeo channel · Confirmed by the bill's status history (House Withdrawn, Recommitted)
Summary by Georgia Commons: A member moved to return HB 1180 to the Rules Committee. The clerk read its caption concerning the Georgia Housing and Finance Authority. The House approved the motion without objection, with no discussion of the bill’s provisions.
Status timeline
- House Withdrawn, Recommitted (House)
- House Committee Favorably Reported (House)
- House Second Readers (House)
- House First Readers (House)
- House Hopper (House)
Sponsors
- Clint Crowe (R, HD-118)
- Beth Camp (R, HD-135)
- Matt Reeves (R, HD-99)
- Dale Washburn (R, HD-144)
- Miriam Paris (D, HD-142)
Topics
- housing finance
- state bonds
- Georgia Housing and Finance Authority
- public debt limits