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GA HB1492
Bill
Status
Introduced
3/14/2024
Primary Sponsor
Rick Jasperse
Click for details
AI Summary
- Expands the Georgia Airport Development Authority's purpose to include financing the construction of appurtenant buildings or structures located on airport land, in addition to its existing role in developing new airports
- Broadens the definition of "project" to include construction of appurtenant buildings or structures at existing Georgia airports for both aviation and non-aviation purposes
- Authorizes the authority to make loans and extend credit to local governments (municipalities, counties, and local airport authorities) to pay all or part of the cost of airport projects, including through the purchase of revenue bonds, notes, or other obligations
- Allows the authority to require loan recipients to establish and collect taxes, rents, fees, and charges sufficient to cover operation costs and debt service, and to create special reserve funds as security for repayment
- Declares that ensuring existing airports can provide adequate aircraft storage is a public purpose, and exempts the authority's fee-setting power from oversight by the Public Service Commission or any local or state agency
Legislative Description
Georgia Airport Development Authority; expand purpose, function, and powers
Last Action
House Second Readers
3/20/2024
Committee Referrals
Economic Development and Tourism3/18/2024
Full Bill Text
No bill text available