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GA SR84
Resolution
Status
Passed
5/3/2012
Primary Sponsor
Earl Carter
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AI Summary
- Proposes an amendment to Article VII, Section IV of the Georgia Constitution to authorize the General Assembly to allow the State Properties Commission and the Board of Regents of the University System of Georgia to enter into multiyear rental agreements for real property
- State entities would not be required to obligate present funds for the full amount owed under the full term of a rental agreement, but agreements must include a termination clause in the event of insufficient funds
- Rental agreements are limited to no more than 10 fiscal years, or no more than 20 fiscal years in the case of a sale-leaseback arrangement, with any partial fiscal year counting as a complete fiscal year
- The ballot question frames the amendment as providing "a reduction in the state's operating costs" through multiyear rental authority
- Sponsored by Senators Carter of the 1st, Jackson of the 24th, Staton of the 18th, Rogers of the 21st, Williams of the 19th, and others; adopted by the Georgia Senate
Legislative Description
General Assembly; authorize state entities to enter into multiyear rental agreements; procedures, conditions, and limitations-CA
Last Action
Act 761
5/3/2012
Committee Referrals
State Institutions and Property2/22/2011
State Institutions and Property2/1/2011
Full Bill Text
No bill text available