HB1180: HB1180 Georgia Housing and Finance Authority; eliminate outstanding bond limit

The Georgia Housing and Finance Authority issues bonds to fund programs such as single-family housing, health facilities, and other enterprises. Current law caps how much debt the authority can have outstanding at one time, with separate dollar limits for its housing program, other enterprise financing, and health care financing. House Bill 1180 amends O.C.G.A. § 50-26-10, the code section that sets these caps, as part of a broader effort described in the bill's title as eliminating the outstanding bond limit. The revised text keeps a $6 billion cap for the single-family residential housing program, a $140 million cap for other enterprise financing, and a $30 million cap for health care financing, and keeps the existing exemption from state interest rate and usury laws. It also adds a new requirement: every bond issued by the authority must carry a printed statement on its face saying the bond does not count as state debt and is not backed by the state's full faith and credit. The law would take effect as soon as the Governor signs it or lets it become law without a signature.

• Amends O.C.G.A. § 50-26-10, the code section setting borrowing limits for the Georgia Housing and Finance Authority.
• Requires every bond the authority issues to print a statement saying the bond is not state debt and is not backed by the state's full faith and credit.
• Retains the authority's exemption from Georgia's interest rate and usury laws for its bonds.
• Takes effect immediately upon the Governor's signature or upon becoming law without the Governor's signature.
• Repeals any existing state laws that conflict with the new provisions.

The Georgia Housing and Finance Authority, which issues bonds to fund housing and health facility programs; investors who buy those bonds; and, indirectly, Georgians who rely on the authority's single-family housing and health care financing programs.

The required disclaimer statement makes clear to bond buyers that the state itself is not guaranteeing repayment, which could affect how investors price and evaluate the authority's bonds. Changes to the authority's borrowing limits could also affect how much money is available for housing and health facility financing in Georgia.

• Section 1 revises subsection (i) of O.C.G.A. § 50-26-10, the Georgia Housing and Finance Authority's bond and note limit provisions.
• Keeps a $6 billion outstanding limit for bonds and notes issued for the authority's single-family residential housing program, excluding refunding bonds.
• Keeps a $140 million limit for bonds and notes financing other enterprises (not housing or health facilities), with an exception for refunding bonds.
• Keeps a $30 million limit for bonds and notes financing health care services, with an exception for refinancing bonds.
• Keeps the exemption of authority bonds from Georgia's revenue bond interest rate limits and usury laws.
• Adds a new requirement that every bond issued by the authority state on its face that it does not constitute state debt or a pledge of the state's full faith and credit.
• Section 2 makes the Act effective upon the Governor's approval or upon becoming law without approval.
• Section 3 repeals any conflicting state laws.

1. 2026-02-19House Withdrawn, Recommitted (House)
2. 2026-02-12House Committee Favorably Reported (House)
3. 2026-02-05House Second Readers (House)
4. 2026-02-04House First Readers (House)
5. 2026-02-03House Hopper (House)

• Clint Crowe (R, HD-118)Primary sponsor
• Beth Camp (R, HD-135)
• Matt Reeves (R, HD-099)
• Dale Washburn (R, HD-144)
• Miriam Paris (D, HD-142)

• housing finance
• state bonds
• Georgia Housing and Finance Authority
• public debt