Loading chat...
GA SR510
Resolution
Status
Engrossed
2/18/2010
Primary Sponsor
Chip Rogers
Click for details
AI Summary
- Proposes an amendment to the Georgia Constitution (Article VII, Section IV) authorizing the General Assembly to allow the State Properties Commission, the Board of Regents of the University System of Georgia, or both to enter into multiyear rental agreements for real property without appropriating the full obligation amount upfront
- Limits any such multiyear rental agreement to a maximum of ten fiscal years, with any partial fiscal year counted as a complete fiscal year
- Requires all agreements to include a termination clause in the event of insufficient funds, protecting the state from obligations it cannot meet
- Intended to reduce rental rates paid by the state and save state revenue by removing the requirement to appropriate the total amount due under the entire agreement in the first fiscal year
- Directs that the proposed constitutional amendment be submitted to Georgia voters for ratification or rejection on the ballot, following procedures outlined in Article X of the Constitution
Legislative Description
State Properties Commission; Board of Regents; multiyear rental agreements-CA
Last Action
House Committee Favorably Reported
4/20/2010
Committee Referrals
State Institutions and Property3/8/2010
State Institutions and Property3/9/2009
Full Bill Text
No bill text available