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GeorgiaSB 6122025-2026 Regular SessionSenate

City of Cochran Public Facilities Authority; create

Sponsored By: Larry Walker (Republican)

Signed by Governor

Intragovernmental CoordinationState and Local Governmental OperationsLocal Bill

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Bill Overview

Analyzed Economic Effects

6 provisions identified: 4 benefits, 2 costs, 0 mixed.

Georgia tax break for Cochran bondholders

Revenue bonds issued by the Cochran authority under this law are exempt from taxation within Georgia. All income from those bonds is also exempt from taxation within Georgia. The law states no individual savings amount.

New authority for Cochran public projects

The law creates a public authority based in Cochran to build, own, lease, and run projects within city limits. Projects include public buildings, sewers, stormwater systems, utilities, broadband, and historic preservation. Its seven unpaid board members serve alongside their city governing terms; four members make a quorum. The city appoints and removes members, and members can receive expense reimbursements. The authority can hire staff, contract with outside operators, accept grants and loans, and buy, sell, or pledge property. Its property is protected from court-ordered seizure and sale. After dissolution and full payment of bond principal and interest, its property goes to Cochran, with existing liens and leases remaining. Bond documents can allow earlier transfers; the law provides no specific funding amount or direct household payment.

Cochran bonds carry no government guarantee

The authority can issue revenue bonds for project costs and refinance existing bonds under Georgia’s bond law and this act. Repayment comes only from pledged funds, which can include project receipts and available authority revenue, including tax-derived revenue where allowed. The bonds are not state or city debt, and neither government must levy or pledge taxes to repay them. Bondholders cannot collect from state or city property. Bond agreements can require reserves, insurance, maintenance, limits on future debt, and dedicated repayment funds. Bondholders have a claim on pledged funds, and trustees can enforce default remedies allowed by financing documents. Bleckley County Superior Court handles bond validation and related enforcement; while bonds remain unpaid, the authority’s powers and existence cannot be reduced to bondholders’ harm.

Cochran authority gets broad tax exemptions

The authority’s property, operations, use charges, and other income are exempt from taxes and assessments as far as general law allows. The exemption does not cover sales and use tax on property bought by or for the authority. The law does not require tax savings to be passed on to households.

Cochran project users face fees

The authority can set and change rents, fees, and charges for its projects. Together with other revenue, charges must cover operating costs, repairs, insurance, reserves, bond payments, and project expenses. Charges must also support extra income needed to improve bond marketability or secure favorable interest rates. Leases can require rent before construction ends and make tenants responsible for maintenance, repairs, and the authority’s legal defense costs. The law sets no fee amounts and does not charge every household.

Limits on injury claims in Cochran

The authority gets the same protection from injury and negligence lawsuits as a Georgia county. Its officers, agents, and employees receive that protection while doing authority work. These protections limit legal remedies for people bringing such claims. The authority remains subject to lawsuits over its contracts, like a private corporation.

Sponsors & Cosponsors

Sponsor

  • Larry Walker

    Republican • Senate

Cosponsors

  • Danny Mathis

    Republican • House

Roll Call Votes

All Roll Calls

Yes: 202 • No: 0

House vote • 3/20/2026

Local Calendar

Yes: 153 • No: 0 • Other: 18

Senate vote • 3/6/2026

LOCAL CONSENT CALENDAR

Yes: 49 • No: 0 • Other: 4

Actions Timeline

  1. Senate Date Signed by Governor

    5/11/2026Senate

  2. Act 618

    5/11/2026

  3. Effective Date

    5/11/2026

  4. Senate Sent to Governor

    4/10/2026Senate

  5. House Committee Favorably Reported

    3/20/2026House

  6. House Third Readers

    3/20/2026House

  7. House Passed/Adopted

    3/20/2026House

  8. House Second Readers

    3/10/2026House

  9. House First Readers

    3/9/2026House

  10. Senate Committee Favorably Reported

    3/6/2026Senate

  11. Senate Passed/Adopted

    3/6/2026Senate

  12. Senate Read and Referred

    3/3/2026Senate

  13. Senate Hopper

    3/2/2026Senate

Bill Text

  • SB 612/AP* (v6)

    PDF

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