08 LC 25
5285
Senate
Resolution 1289
By:
Senators Tarver of the 22nd and Wiles of the 37th
ADOPTED
SENATE
A
RESOLUTION
Creating
the Senate Exemptions for Purposes of Bankruptcy Study Committee; and for other
purposes.
WHEREAS,
the exemption statute found in Code Section 44-13-100 of the Official Code of
Georgia Annotated was last amended in 2001; and
WHEREAS,
there has not been in the past decade or longer a formal or comprehensive study
of exemptions for the purpose of bankruptcy to assure consistent and equitable
recommendations for changes to this statutory provision; and
WHEREAS,
the law providing for an exemption for real property and subsequent consequences
therefrom not only provides a degree of protection for debtors but also forms an
essential part of the foundation for creditors and the real estate industries in
this state; and
WHEREAS,
public policy should be designed to ensure that exemptions available to debtors
for real property or personal property used as a residence are neither
inadequate or excessive nor unfairly discriminatory.
NOW,
THEREFORE, BE IT RESOLVED BY THE SENATE that there is created the Senate
Exemptions for Purposes of Bankruptcy Study Committee to be composed of five
members of the Senate to be appointed by the Lieutenant Governor. The
Lieutenant Governor shall designate a member of the committee as chairperson of
the committee. The chairperson shall call all meetings of the
committee.
BE
IT FURTHER RESOLVED that the committee shall undertake a study of the
conditions, needs, and issues mentioned above or related thereto and recommend
any action or legislation which the committee deems necessary or appropriate.
The committee may conduct such meetings at such places and at such times as it
may deem necessary or convenient to enable it to exercise fully and effectively
its powers, perform its duties, and accomplish the objectives and purposes of
this resolution. The members of the committee shall receive the allowances
provided for in Code Section 28-1-8 of the Official Code of Georgia Annotated.
The allowances authorized by this resolution shall not be received by any member
of the committee for more than five days unless additional days are authorized.
The funds necessary to carry out the provisions of this resolution shall come
from the funds appropriated to the Senate. In the event the committee makes a
report of its findings and recommendations, with suggestions for proposed
legislation, if any, such report shall be made on or before December 1, 2008, at
which time the committee shall stand abolished.