GA HB244

Renames the Georgia Environmental Facilities Authority to the Georgia Environmental Finance Authority

Revises the authority's power to incorporate nonprofit subsidiary corporations, explicitly designating any such subsidiary as a public body corporate and politic, a political subdivision of the state, and an instrumentality of the state that exercises essential governmental functions

Subsidiary corporations must be created under the Georgia Nonprofit Corporation Code (Chapter 3 of Title 14), with the Secretary of State authorized to accept such filings

Upon dissolution of any subsidiary corporation, all assets revert to the authority, its successor, or the State of Georgia; the authority is not liable for debts, obligations, bonds, or actions of any subsidiary unless it expressly consents

Amendment was offered by Senators Wiles (37th), Hill (4th), and Rogers (21st) and adopted by the Senate Special Judiciary Committee