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GA HB901
Bill
Status
Passed
8/3/2020
Primary Sponsor
Mike Cheokas
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AI Summary
- Authorizes the state treasurer to invest in shares of mutual funds, provided the fund's investments are limited to securities already authorized under existing law and are rated within the top two rating categories by a nationally recognized rating service
- Grants the Georgia Environmental Finance Authority (GEFA) new power to make loan commitments and loans to local governments and nongovernmental entities for projects that permanently protect land and water in their undeveloped natural states
- Eligible conservation purposes for funded projects include water quality protection, flood protection, wetlands protection, erosion reduction, riparian buffer protection, prime agricultural and forestry land protection, cultural and historic resource protection, scenic protection, and outdoor recreation provision
- Funded lands must be undeveloped, developed consistent with conservation purposes, or restored to be consistent with those purposes, and may also include projects connecting existing or planned conservation areas
- Effective upon approval by the Governor or upon becoming law without such approval
Legislative Description
Georgia Environmental Finance Authority; power to make loan commitments and loans to local governments and nongovernment agencies for projects that permanently protect land and water; provide
Last Action
Effective Date
8/3/2020
Full Bill Text
No bill text available