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GA SB194
Bill
Status
Passed
6/4/2010
Primary Sponsor
Ronnie Chance
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AI Summary
- Revises Georgia's benefits based funding project provisions under state purchasing law, requiring vendors to guarantee (rather than merely "promise") that improvements will generate actual and quantifiable savings or enhanced revenues
- Expands the types of acquisitions eligible for benefits based funding contracts to explicitly include equipment, improvements to real property, construction services, and renovation services
- Requires vendors to provide financial surety instruments (energy savings guarantee bonds, letters of credit, escrowed funds, or corporate guarantees) equal to the value of annual savings or revenue gains, and to remedy any deficit in guaranteed savings by remitting the shortfall to the state
- Adds the state accounting officer to the external oversight committee and changes the Senate representative from the Finance Committee chairperson to the Appropriations Committee chairperson
- Assigns the Georgia Environmental Facilities Authority an advisory role, directing it to review benefits based funding projects, recommend approval to the oversight committee, and consolidate agency annual reports for submission to the Governor, General Assembly, and the committee
Legislative Description
State Purchasing; benefits based funding projects; revise provisions; change membership of an oversight committee
Last Action
Effective Date
1/1/2011
Committee Referrals
Energy, Utilities and Telecommunications3/9/2009
Finance2/24/2009
Full Bill Text
No bill text available