hb685_LC_19_6539_a_2.html
05 LC 19 6539
House Bill 685
By: Representatives Orrock of the 58th, Thomas of the 55th, and Stanley-Turner of the 53rd

A BILL TO BE ENTITLED
AN ACT

To amend Code Section 8-3-3 of the Official Code of Georgia Annotated, relating to definitions relative to housing authorities, so as to clarify the specific situations for which a private enterprise agreement is applicable to housing projects in this state; to provide for related matters; to repeal conflicting laws; and for other purposes.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:

SECTION 1.
Code Section 8-3-3 of the Official Code of Georgia Annotated, relating to definitions relative to housing authorities, is amended by striking paragraph (13.1) and inserting in lieu thereof the following:
"(13.1) 'Private enterprise agreement' means a contract between a housing authority and a person or entity operating for profit for:
(A) The management of a housing project;
(B) The development of and the provision of credit enhancement with respect to a housing project;
(C) The ownership or operation of a housing project through by the for profit entity in which the housing authority participates, either directly or indirectly through a wholly owned subsidiary, for purposes of facilitating the development, provision of credit enhancement, operation, or management of such housing project in accordance with this article; such participation may involve ownership by the housing authority of an interest in the for profit entity, ownership by the housing authority of the land on which the housing project is developed, or provision by the housing authority of a combination of funds to the for profit entity for a portion of the construction costs of the housing project and funds to the for profit entity to subsidize the operating costs of units for persons of low income to the extent such contract is designated as a private enterprise agreement by the housing authority; or
(D) Any combination of any of the foregoing."

SECTION 2.
All laws and parts of laws in conflict with this Act are repealed.