House Bill 1597
By: Representatives Jackson of the 68th, Mitchell of the 88th, Reese of the 140th, Clark of the
108th, and Bazemore of the 69th
A BILL TO BE ENTITLED
AN ACT
To amend Chapter 8 of Title 50 of the Official Code of Georgia Annotated, relating to the
Department of Community Affairs, so as to provide for maximum loan amounts for certain
home buying assistance programs; to provide for loan structure and forgiveness; to provide
for certain qualifications for eligibility; to provide for certain minimum fund allocation; to
provide for definitions; to provide for a short title; to provide for legislative findings; to
provide for related matters; to repeal conflicting laws; and for other purposes.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION 1.
This Act shall be known and may be cited as the "Georgia Dream Expansion and Housing
Affordability Act of 2026."
SECTION 2.
The General Assembly finds that:
(1) Homeownership is the primary vehicle for generational wealth building in this state;
(2) Rising interest rates and historic increases in home prices have placed the "Georgia
Dream" out of reach for a significant portion of the workforce, including, but not limited
to, teachers, healthcare workers, and veterans;
(3) The current home down payment assistance levels of $10,000.00 to $12,500.00 are
no longer sufficient to bridge the affordability gap in a market where median home prices
in metropolitan areas exceed $400,000.00; and
(4) Providing bold, front-end financial support reduces the long-term need for state
subsidized rental assistance and helps stabilize local economies.
SECTION 3.
Chapter 8 of Title 50 of the Official Code of Georgia Annotated, relating to the Department
of Community Affairs, is amended by adding a new article to read as follows:
<ins>"ARTICLE 14
50-8-310.
As used in this article, the term:
(1) 'First-generation homebuyer' means an individual who has not owned a home in the
last three years and whose parents or guardians do not currently hold an ownership
interest in a residential property.
(2) 'Qualified public service professional' means any educator, law enforcement officer,
firefighter, emergency medical technician, or healthcare professional employed full-time
in this state.
50-8-311.
For department managed loan programs providing technical assistance and financing
options for the purchase of a residence, including, but not limited to, the Georgia Dream
Loan Program, the department shall provide to applicants of the program:
</ins>
<ins>(1) Down payment assistance consisting of a loan of $30,000.00 to be applied to the
purchase price of a primary residence; and
(2) Closing cost assistance consisting of a loan of $15,000.00 to be applied to loan
origination fees, inspections, and other standard closing costs.
50-8-312.
(a) To encourage community stability, loans granted pursuant to this article shall be
structured as zero interest, nonamortizing loans. Ten percent of the total balance of such
loans shall be forgiven annually on the anniversary of the closing date of the purchase of
the primary residence. After ten years of primary residency, any remaining loan balance
shall be forgiven.
(b) The department shall adjust income eligibility limits of department managed loan
programs providing technical assistance and financing options for the purchase of a
primary residence to applicants who earn up to 140 percent of the area median income of
high-cost counties in this state to ensure middle-income families in rapidly growing
districts remain eligible.
(c) Not less than 20 percent of annual program funding shall be reserved for
first-generation homebuyers and qualified public service professionals."
</ins> SECTION 4.
All laws and parts of laws in conflict with this Act are repealed.