Subcommittee advances bill to ease limits on GHFA mortgage bonds

House Bill 1180, presented to the State and Local Government Subcommittee as a hearing item, would relax the statutory cap on outstanding mortgage revenue bonds that the Georgia Housing and Finance Authority (GHFA) may issue to support homeownership programs statewide.

Proponents told the panel the measure would not create state indebtedness but would give GHFA flexibility to issue bonds when programs need funding. "What we're doing is that last year, we had a similar bill that raised the limit…instead of raising the cap, just eliminating the cap altogether because it doesn't create any indebtedness for the state of Georgia," the presenter said, adding that multiple state officials and oversight structures already review these issuances.

Caitlin Bickett of the Georgia Realtors testified in support, saying programs such as the Georgia Dream Homeownership program rely on GHFA bonding authority. "Programs like the Georgia Dream Homeownership program rely on Georgia Housing and Finance Authority's bonding authority," Bickett said, and added she has seen the program help friends buy their first homes.

Panel members and presenters emphasized existing oversight and high bond ratings for the authority. A committee member noted that Department of Community Affairs staff and a deputy commissioner for housing were present to answer questions.

Procedurally, members indicated HB 1180 will be available for the subcommittee chairman to pull up to the full committee for further consideration.

The subcommittee did not take a formal roll-call vote on the bill; the matter was left eligible for full-committee consideration.