---
title: HB 159. Georgia Housing and Finance Authority; increase outstanding bond limit
collection: bills
id: 2025-2026/hb159
cite_as: HB 159, 2025-2026 Regular Session (Ga.)
canonical_url: https://georgiacommons.org/bills/2025-2026/hb159
md_url: https://georgiacommons.org/bills/2025-2026/hb159.md
text_url: https://georgiacommons.org/bills/2025-2026/hb159/text
source_url: https://www.legis.ga.gov/legislation/69597
date: 2025-05-13
status: passed
corpus_version: bills-2026-08-28
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.
up: https://georgiacommons.org/bills/2025-2026.md
previous: https://georgiacommons.org/bills/2025-2026/hb158.md
next: https://georgiacommons.org/bills/2025-2026/hb160.md
index: https://georgiacommons.org/bills/index.md
omitted: votes and history
omitted_chars: 1026
omitted_url: https://georgiacommons.org/bills/2025-2026/hb159.md?full=1
bill_number: HB 159
session: 2025-2026 Regular Session
session_slug: 2025-2026
chamber: House
bill_type: bill
status_date: 2025-05-13
last_action: Effective Date 2025-05-13
sponsors:
  - Clint Crowe
  - Matt Reeves
  - Beth Camp
  - Kimberly New
  - Drew Echols
text_version: Enrolled
has_text: true
legiscan_url: https://legiscan.com/GA/bill/HB159/2025
upstream_id: 1945178
summaries_model: claude-sonnet-5
topic_tags:
  - housing finance
  - state bonds
  - Georgia Housing and Finance Authority
  - home financing programs
---

# HB 159. Georgia Housing and Finance Authority; increase outstanding bond limit

## Text

25 LC 62 0158S/AP
House Bill 159 (AS PASSED HOUSE AND SENATE)
By: Representatives Crowe of the 118th, Reeves of the 99th, Camp of the 135th, and New of
the 40th
A BILL TO BE ENTITLED
AN ACT
To amend Chapter 26 of Title 50 of the Official Code of Georgia Annotated, relating to the1
Georgia Housing and Finance Authority, so as to increase the ou tstanding bond limit; to2
provide for related matters; to provide for an effective date; to repeal conflicting laws; and3
for other purposes.4
BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:5
SECTION 1.6
Chapter 26 of Title 50 of the Official Code of Georgia Annotate d, relating to the Georgia7
Housing and Finance Authority, is amended in Code Section 50-26-10, relating to obligations8
not subject to "Georgia Uniform Securities Act of 2008," paymen t of operating costs,9
authority's revenue, bond anticipation notes, terms of bond, replacement of bond, validation,10
and interest rates, by revising subsection (i) as follows:11
"(i)(1) The authority shall not have outstanding at any one time bonds and notes for its12
single-family residential housing program in an aggregate amount exceeding $3 billion13
$6 billion, excluding bonds and notes issued to refund outstanding bonds and notes.14
(2) The authority shall not have outstanding at any one time b onds and notes for15
financing of enterprises, other than enterprises contained in a health facility and other16
H. B. 159
- 1 -
25 LC 62 0158S/AP
than housing, exceeding $140 million and shall not issue any such bonds or notes after17
June 30, 1995; provided, however, that such limitations shall n ot apply with respect to18
bonds and notes issued to refund outstanding bonds and notes.19
(3) The authority shall not have outstanding at any one time b onds and notes for the20
financing of health care services exceeding $30 million; provid ed, however, that such21
limitations shall not apply with respect to bonds and notes issued to refinance outstanding22
bonds and notes.23
(4) Any limitations with respect to interest rates or any maximum interest rate or rates24
found in Article 3 of Chapter 82 of Title 36, the 'Revenue Bond Law,' the usury laws of25
this state, or any other laws of this state do not apply to bonds of the authority."26
SECTION 2.27
This Act shall become effective upon its approval by the Governor or upon its becoming law28
without such approval.29
SECTION 3.30
All laws and parts of laws in conflict with this Act are repealed.31
H. B. 159
- 2 -

## 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 159 would double the amount of bonds and notes the Georgia Housing and Finance Authority can have outstanding for its single-family housing program, from $3 billion to $6 billion.

### Plain-language summary

The Georgia Housing and Finance Authority helps finance single-family housing, along with certain business enterprises and health care services, by issuing bonds and notes. Current Georgia law (O.C.G.A. § 50-26-10) caps how much of that debt the authority can have outstanding at any one time for its single-family residential housing program at $3 billion, not counting bonds issued to refinance existing debt.
This bill raises that cap to $6 billion. It leaves in place the separate, unchanged limits on bonds for other enterprise financing ($140 million) and health care services financing ($30 million), and it does not touch the exemption from state usury and interest rate laws that already applies to the authority's bonds. The law would take effect as soon as the Governor signs it or it otherwise becomes law without his signature.

### What it does

- Raises the cap on outstanding bonds and notes for the authority's single-family residential housing program from $3 billion to $6 billion.
- Keeps unchanged the separate $140 million limit on bonds for other enterprise financing (excluding health facilities and housing).
- Keeps unchanged the separate $30 million limit on bonds for financing health care services.
- Leaves in place the existing exemption of the authority's bonds from state interest rate and usury law limits.
- Sets the effective date as the date the Governor signs the bill or it otherwise becomes law without his signature.

### Who it affects

The Georgia Housing and Finance Authority, which issues the bonds; bond investors and underwriters who buy or handle the authority's debt; and, indirectly, Georgians seeking single-family home financing through authority-backed programs, since a higher bond cap allows more housing program funding capacity.

### Why it matters

By doubling the borrowing ceiling for its single-family housing program, the authority could issue significantly more bonds to fund home financing programs without hitting the current $3 billion limit, potentially supporting more housing assistance activity across Georgia going forward.

### Key provisions

- Section 1 amends O.C.G.A. § 50-26-10(i)(1) to raise the outstanding bond and note limit for the single-family residential housing program from $3 billion to $6 billion, excluding refunding bonds.
- Section 1 leaves subsections (i)(2) through (i)(4) unchanged, preserving the $140 million enterprise financing cap, the $30 million health care services cap, and the exemption from state interest rate limits.
- Section 2 sets the effective date as the date of the Governor's approval or the date the bill otherwise becomes law without approval.
- Section 3 repeals any conflicting laws.

## Status

- Status: Passed (2025-05-13)
- Last action: Effective Date 2025-05-13 (2025-05-13)
- Sponsors: Clint Crowe, Matt Reeves, Beth Camp, Kimberly New, Drew Echols
- Official page: https://www.legis.ga.gov/legislation/69597

> The history, votes, and amendments (1,026 characters) are at https://georgiacommons.org/bills/2025-2026/hb159.md?full=1