HB1495: HB1495 Senior Stabilization Act; enact

26 LC 62 0285 House Bill 1495 By: Representatives Barnes of the 86th, Glaize of the 67th, Williams of the 168th, Alexander of the 66th, Taylor of the 92nd, and others A BILL TO BE ENTITLED AN ACT To amend Chapter 7 of Title 44 of the Official Code of Georgia Annotated, relating to1 landlord and tenant, so as to provide for rent increase limits for certain senior citizens and2 senior housing; to provide for a short title; to provide for related matters; to repeal conflicting3 laws; and for other purposes.4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:5 SECTION 1.6 This Act shall be known and may be cited as the "Senior Stabilization Act."7 SECTION 2.8 Chapter 7 of Title 44 of the Official Code of Georgia Annotated , relating to landlord and9 tenant, is amended by adding a new Code section to read as follows:10 "44-7-26.11 (a) As used in this Code section, the term12 (1) 'Senior housing' means rental residences exclusively for tenants.13 H. B. 1495 - 1 - 26 LC 62 0285 (2) 'Tenant' means a person who is entitled, under a rental agreement entered into on or14 before June 30, 2026, between such person and a landlord, to occupy a dwelling unit to15 the exclusion of others and:16 (A) Is 62 years of age or older; and17 (B) Whose primary source of income is from payments received pursuant to the federal18 Social Security Act, including retirement and survivor's benefits, supplemental security19 income benefits, and disability income benefits.20 (b) During the period beginning July 1, 2026, and ending December 31, 2028, no landlord21 or developer constructing senior housing shall renew the rental agreement or enter into a22 new rental agreement for a dwelling unit with the existing tena nt of such dwelling unit23 when such renewal or new rental agreement increases the rent pa yable by the existing24 tenant for such dwelling unit in an amount that is greater than 10 percent of the rent25 payable by the existing tenant pursuant to the rental agreement that is in effect on June 30,26 2026."27 SECTION 3.28 All laws and parts of laws in conflict with this Act are repealed.29 H. B. 1495 - 2 -