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GA HB189
Bill
Status
Engrossed
3/3/2017
Primary Sponsor
Sheila Nelson
Click for details
AI Summary
- Amends Georgia's revenue bond law (Article 3, Chapter 82, Title 36 of O.C.G.A.) to revise the definition of "undertaking" related to electric utility systems by adding "transmission" to the existing language covering generating and distribution systems
- Requires revenue certificates issued to buy, construct, extend, operate, or maintain electric generating, transmission, and distribution systems to be authorized by a majority vote at an election in the affected county, municipal corporation, or political subdivision before being undertaken
- Elections for such revenue certificates must follow the same procedures used for issuing bonds and must be called by officers in charge of the fiscal affairs of the affected jurisdiction
- Allows the General Assembly to exempt a county, municipal corporation, or political subdivision from the election requirement through a local act, provided the entity's net book value of electric utility assets exceeds $200 million
- Takes effect immediately upon the Governor's approval or upon becoming law without such approval
Legislative Description
Contract Cancellation Act; enact
Last Action
Senate Passed/Adopted By Substitute
3/29/2018
Full Bill Text
No bill text available