Georgia Housing and Finance Authority; increase outstanding bond limit

Georgia housing borrowing doubles; other financing capped

The law raises the Georgia Housing and Finance Authority’s single-family housing debt ceiling from $3 billion to $6 billion. This expands borrowing capacity, not funding, and does not guarantee household financing or change eligibility or costs. Debt for enterprises other than housing or health facilities is capped at $140 million, with no new issues after June 30, 1995. Health care services financing has a separate $30 million debt cap. Bonds and notes issued to replace outstanding debt do not count toward these caps; the enterprise issuance ban also exempts replacement bonds. The Authority’s bonds are exempt from state interest-rate limits, and its obligations remain outside Georgia’s securities law. The act took effect upon the Governor’s approval or becoming law without approval, and repeals conflicting laws.