HR 656: House Study Committee on Expanding Home Ownership Opportunities for Georgians; create

The House Committee on Rural Development offers the following substitute to HR 656:

A RESOLUTION

Creating the House Study Committee on Expanding Home Ownership Opportunities for Georgians; and for other purposes.

WHEREAS, the Georgia General Assembly affirmed by law that "housing is an issue of paramount concern to this state which affects the health, welfare, and safety of the citizens of this state and the economic viability and planned growth of its communities"; and

WHEREAS, Georgia is currently ranked as the most at risk state in the nation for housing market disruptions, rental increases, and unsafe conditions from private equity investment in housing; and

WHEREAS, three corporate landlords own over 19,000 homes in the metro Atlanta area, constituting nearly 11 percent of the single family homes available for rent in Fulton, Clayton, DeKalb, Gwinnett, and Cobb counties; and

WHEREAS, institutional investors are increasingly expanding into suburban, rural, and coastal counties, such as Barrow, Bartow, Bryan, Carroll, Columbia, Effingham, Hall, Paulding, and Walton counties; and

WHEREAS, out-of-state institutional investors own 30 percent of all single family rental properties in Atlanta; and

WHEREAS, home ownership has historically been a key source of wealth and stability for middle class families; and

WHEREAS, the median home price in Georgia rose from approximately $132,000.00 in 2013 to over $320,000.00 in 2023 and $360,000.00 in 2025; and

WHEREAS, increasing institutional ownership of single family homes will continue to put the goal of home ownership further and further out of reach for Georgians; and

WHEREAS, a study is needed to evaluate the current housing stock and expand home ownership opportunities for Georgians.

NOW, THEREFORE, BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES:

(1) Creation of House study committee. There is created the House Study Committee on Expanding Home Ownership Opportunities for Georgians.

(2) Members and officers. The committee shall be composed of seven members of the House of Representatives to be appointed by the Speaker of the House of Representatives. The Speaker shall designate a member of the committee as chairperson of the committee.

(3) Powers and duties. The committee shall undertake a study of the conditions, needs, issues, and problems mentioned above or related thereto and recommend any action or legislation which the committee deems necessary or appropriate.

(4) Meetings. The chairperson shall call all meetings of the committee. The committee may conduct such meetings at such places and at such times as it may deem necessary or convenient to enable it to exercise fully and effectively its powers, perform its duties, and accomplish the objectives and purposes of this resolution.

(5) Allowances and funding.

(A) The legislative members of the committee shall receive the allowances provided for in Code Section 28-1-8 of the Official Code of Georgia Annotated.

(B) The allowances authorized by this resolution shall not be received by any member of the committee for more than five days unless additional days are authorized. Funds necessary to carry out the provisions of this resolution shall come from funds appropriated to the House of Representatives.

(6) Report.

(A) In the event the committee adopts any specific findings or recommendations that include suggestions for proposed legislation, the chairperson shall file a report of the same prior to the date of abolishment specified in this resolution, subject to subparagraph (C) of this paragraph.

(B) In the event the committee adopts a report that does not include suggestions for proposed legislation, the chairperson shall file the report, subject to subparagraph (C) of this paragraph.

(C) No report shall be filed unless the same has been approved prior to the date of abolishment specified in this resolution by majority vote of a quorum of the committee. A report so approved shall be signed by the chairperson of the committee and filed with the Clerk of the House of Representatives.

(D) In the absence of an approved report, the chairperson may file with the Clerk of the House of Representatives a copy of the minutes of the meetings of the committee in lieu thereof.

(7) Abolishment. The committee shall stand abolished on December 1, 2026.