GA HB1448

Creates the Georgia Local Government Finance Authority, a public body corporate allowing local governments (counties, municipalities, school districts, and other political subdivisions) to finance capital assets at lower than prevailing costs

Authority governed by five members who must be elected local government officials: three appointed by the Governor, one by the President of the Senate, and one by the Speaker of the House

Authorizes the authority to issue revenue bonds with maturities up to 30 years to finance assets including public safety vehicles/equipment and school vehicles/equipment for participating local governments

Authority and its bonds, property, and income are exempt from state and local taxation; bonds do not constitute debt of the state or any local government

Georgia Municipal Association or similar nonprofit representing at least 300 municipalities may be contracted to provide administrative staff and manage routine affairs of the authority