---
title: HB 1180. Georgia Housing and Finance Authority; eliminate outstanding bond limit
collection: bills
id: 2025-2026/hb1180
cite_as: HB 1180, 2025-2026 Regular Session (Ga.)
canonical_url: https://georgiacommons.org/bills/2025-2026/hb1180
md_url: https://georgiacommons.org/bills/2025-2026/hb1180.md
text_url: https://georgiacommons.org/bills/2025-2026/hb1180/text
source_url: https://www.legis.ga.gov/legislation/72795
date: 2026-02-19
status: introduced
corpus_version: bills-2026-09-13
license: Public record of the Georgia General Assembly, via LegiScan; see about.md
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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index: https://georgiacommons.org/bills/index.md
omitted: votes and history
omitted_chars: 235
omitted_url: https://georgiacommons.org/bills/2025-2026/hb1180.md?full=1
bill_number: HB 1180
session: 2025-2026 Regular Session
session_slug: 2025-2026
chamber: House
bill_type: bill
status_date: 2026-02-03
last_action: House Withdrawn, Recommitted
sponsors:
  - Clint Crowe
  - Beth Camp
  - Matt Reeves
  - Dale Washburn
  - Miriam Paris
text_version: Introduced
has_text: true
legiscan_url: https://legiscan.com/GA/bill/HB1180/2025
upstream_id: 2106717
summaries_model: claude-sonnet-5
topic_tags:
  - housing finance
  - state bonds
  - Georgia Housing and Finance Authority
  - public debt limits
---

# HB 1180. Georgia Housing and Finance Authority; eliminate outstanding bond limit

## Text

House Bill 1180
By: Representatives Crowe of the 118th, Camp of the 135th, Reeves of the 99th, Washburn of
the 144th, and Paris of the 142nd
A BILL TO BE ENTITLED
AN ACT
To amend Chapter 26 of Title 50 of the Official Code of Georgia Annotated, relating to the
Georgia Housing and Finance Authority, so as to eliminate the outstanding bond limit; to
provide for a statement on bonds regarding the full faith and credit of the State; to provide
for related matters; to provide for an effective date; to repeal conflicting laws; and for other
purposes.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION 1.
Chapter 26 of Title 50 of the Official Code of Georgia Annotated, relating to the Georgia
Housing and Finance Authority, is amended in Code Section 50-26-10, relating to obligations
not subject to "Georgia Uniform Securities Act of 2008," payment of operating costs,
authority's revenue, bond anticipation notes, terms of bond, replacement of bond, validation,
and interest rates, by revising subsection (i) as follows:
"(i)(1) <del>The authority shall not have outstanding at any one time bonds and notes for its
single-family residential housing program in an aggregate amount exceeding $6 billion,
excluding bonds and notes issued to refund outstanding bonds and notes.
</del>
<del>(2) The authority shall not have outstanding at any one time bonds and notes for
financing of enterprises, other than enterprises contained in a health facility and other
than housing, exceeding $140 million and shall not issue any such bonds or notes after
June 30, 1995; provided, however, that such limitations shall not apply with respect to
bonds and notes issued to refund outstanding bonds and notes.
(3) The authority shall not have outstanding at any one time bonds and notes for the
financing of health care services exceeding $30 million; provided, however, that such
limitations shall not apply with respect to bonds and notes issued to refinance outstanding
bonds and notes.
(4)</del> Any limitations with respect to interest rates or any maximum interest rate or rates
found in Article 3 of Chapter 82 of Title 36, the 'Revenue Bond Law,' the usury laws of
this state, or any other laws of this state do not apply to bonds of the authority.
<ins>(2) 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.'"
</ins> SECTION 2.
This Act shall become effective upon its approval by the Governor or upon its becoming law
without such approval.
SECTION 3.
All laws and parts of laws in conflict with this Act are repealed.

## Summaries written by Georgia Commons

The following was written by claude-sonnet-5 from the text above and is not part of the bill. Quote the text, not the summary.

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.

### Plain-language summary

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 it 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.

## Status

- Status: Introduced (2026-02-03)
- Last action: House Withdrawn, Recommitted (2026-02-19)
- Sponsors: Clint Crowe, Beth Camp, Matt Reeves, Dale Washburn, Miriam Paris
- Official page: https://www.legis.ga.gov/legislation/72795

> The history, votes, and amendments (235 characters) are at https://georgiacommons.org/bills/2025-2026/hb1180.md?full=1