Georgia 2023-2024 Regular Session

Georgia House Bill HB206 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1		-	24 HB 206/AP
2		-	House Bill 206 (AS PASSED HOUSE AND SENATE)
3		-	By: Representatives Sainz of the 180
4		-	th
5		-	, LaHood of the 175
6		-	th
7		-	, Stephens of the 164
8		-	th
9		-	, Taylor
10		-	of the 173
11		-	rd
12		-	, Williams of the 148
13		-	th
14		-	, and others
	1	+	24 HB 206/SCSFA
	2	+	AS PASSED SENATE
	3	+	SENATE SUBSTITUTE TO HB 206
15	4		A BILL TO BE ENTITLED
16	5		AN ACT
17	6		To amend Chapter 42 and Chapter 62 of Title 36 of the Official Code of Georgia Annotated,1
18	7		relating to downtown development authorities and development authorities, respectively, so2
19	8		as to authorize such authorities to provide certain financing for qualifying improvements,3
20	9		including energy efficiency, water conservation, renewable energy, and resiliency4
21	10		improvements; to provide for powers; to provide for financial obligations; to provide a short5
22	11		title; to provide for legislative findings and intent; to provide for cities and counties to6
23	12		cooperate with development authorities in financing qualifying improvements by imposing7
24	13		special assessments on qualifying commercial properties; to provide for the collection and8
25	14		lien status of such assessments; to provide for definitions; to provide for related matters; to9
26	15		provide for an effective date; to repeal conflicting laws; and for other purposes.10
27	16		BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:11
28	17		SECTION 1.12
29	18		Chapter 42 of Title 36 of the Official Code of Georgia Annotated, relating to downtown13
30	19		development authorities, is amended in subsection (a) of Code Section 36-42-8, relating to14
31	20		powers of authorities generally, by deleting "and" at the end of paragraph (23), by replacing15
32	21		the period at the end of paragraph (24) with "; and", and by adding a new paragraph to read16
33	22		as follows:17
34		-	H. B. 206
35		-	- 1 - 24 HB 206/AP
	23	+	- 1 - 24 HB 206/SCSFA
36	24		"(25) To exercise any power granted to development authorities in Code Sections18
37	25		36-62-2.1, 36-62-6.2, 36-62-8.1, and 36-62-8.2."19
38	26		SECTION 2.20
39	27		Chapter 62 of Title 36 of the Official Code of Georgia Annotated, relating to development21
40	28		authorities, is amended by redesignating Code Sections 36-62-1 through 36-62-14 as22
41	29		Article 1.23
42	30		SECTION 3.24
43	31		Said chapter is further amended by adding a new Code section to read as follows:25
44	32		"36-62-2.1.26
45	33		As used in this chapter, the term:27
46	34		(1) 'Assessment' means a special assessment imposed by a participating local28
47	35		government pursuant to Article 2 of this chapter.29
48	36		(2) 'Assessment agreement' means an agreement between an authority and a qualifying30
49	37		property owner in which, among other things, the authority agrees to pay the costs of31
50	38		qualifying improvements and the qualifying property owner voluntarily requests32
51	39		assessments to be imposed by the participating local government on the qualifying33
52	40		property.34
53	41		(3) 'Assessment financing' means the financing or refinancing of qualifying35
54	42		improvements.36
55	43		(4) 'Capital provider' means a private entity or its designee, successor, or assign that37
56	44		purchases an obligation of an authority pursuant to this article.38
57	45		(5) 'Cost of the qualifying improvements' or 'cost of any qualifying improvement' means39
58	46		and includes:40
59		-	H. B. 206
60		-	- 2 - 24 HB 206/AP
	47	+	- 2 - 24 HB 206/SCSFA
61	48		(A) All costs of acquisition (by purchase or otherwise), construction, assembly,41
62	49		installation, modification, renovation, or rehabilitation incurred in connection with any42
63	50		qualifying improvement or any part of any qualifying improvement;43
64	51		(B) All costs of real property, fixtures, or materials used in or in connection with or44
65	52		necessary for any qualifying improvement or for any facilities related thereto,45
66	53		including, but not limited to, the cost of all easements, rights, improvements, water46
67	54		rights, connections for utility services, fees, franchises, permits, approvals, licenses, and47
68	55		certificates; the cost of securing any such franchises, permits, approvals, licenses, or48
69	56		certificates; and the cost of preparation of any application therefor and the cost of all49
70	57		labor and materials used in or in connection with or necessary for any qualifying50
71	58		improvement;51
72	59		(C) All financing charges and loan fees and all interest on revenue bonds, notes, or52
73	60		other obligations of an authority that accrues or is paid prior to and during the period53
74	61		of construction of a qualifying improvement and during such additional period as the54
75	62		authority may reasonably determine to be necessary to place such qualifying55
76	63		improvement in operation;56
77	64		(D) All costs of engineering, architectural, and legal services and all expenses incurred57
78	65		by engineers, architects, and attorneys in connection with any qualifying improvement;58
79	66		(E) All expenses for inspection and any third-party review or verification fees;59
80	67		(F) All fees of fiscal agents, paying agents, and trustees for bondholders under any trust60
81	68		agreement, indenture of trust, or similar instrument or agreement; all expenses incurred61
82	69		by any such fiscal agents, paying agents, and trustees; and all other costs and expenses62
83	70		incurred relative to the issuance of any revenue bonds, notes, or other obligations for63
84	71		any qualifying improvement, including capital provider's fees;64
85	72		(G) All fees of any type charged by an authority in connection with any qualifying65
86	73		improvement;66
87		-	H. B. 206
88		-	- 3 - 24 HB 206/AP
	74	+	- 3 - 24 HB 206/SCSFA
89	75		(H) All expenses necessary or incidental to determining the feasibility or practicability67
90	76		of any qualifying improvement;68
91	77		(I) All costs of plans and specifications for any qualifying improvement;69
92	78		(J) Repayment of any loans made for the advance payment of any part of any of the70
93	79		foregoing costs, including interest thereon and any other expenses of such loans;71
94	80		(K) Administrative expenses of the authority and such other expenses as may be72
95	81		necessary or incidental to any qualifying improvement or the financing thereof or the73
96	82		placing of any qualifying improvement in operation; and74
97	83		(L) The establishment of a fund or funds for the creation of a debt service reserve, a75
98	84		renewal and replacement reserve, or such other funds or reserves, including for ad76
99	85		valorem taxes and insurance, as the authority may approve with respect to the financing77
100	86		and operation of any qualifying improvement and as may be authorized by any bond78
101	87		resolution, trust agreement, indenture of trust, or similar instrument or agreement79
102	88		pursuant to the provisions of which the issuance of any revenue bonds, notes, or other80
103	89		obligations of the authority may be authorized.81
104	90		Any cost, obligation, or expense incurred for any of the foregoing purposes shall be a part82
105	91		of such defined term and may be paid or reimbursed as such out of proceeds of revenue83
106	92		bonds, notes, or other obligations issued by the authority.84
107	93		(6) 'Financing application' means an application submitted to an authority or program85
108	94		administrator to demonstrate that the proposed improvements qualify for financing86
109	95		pursuant to a program.87
110	96		(7) 'Intergovernmental assessment agreement' means a contract entered into pursuant to88
111	97		Article IX, Section III, Paragraph I of the Constitution of Georgia between a county or89
112	98		a municipal corporation, as party of the first part, and an authority, as party of the second90
113	99		part, pursuant to which the county or municipal corporation agrees to make payments to91
114	100		the authority, the sole source of which shall be assessments and no other public moneys,92
115		-	H. B. 206
116		-	- 4 - 24 HB 206/AP
	101	+	- 4 - 24 HB 206/SCSFA
117	102		to furnish financial assistance to aid in the planning, undertaking, or carrying out of a93
118	103		qualifying improvement.94
119	104		(8) 'Participating local government' means a municipal corporation or a county that95
120	105		enters into an intergovernmental assessment agreement with an authority.96
121	106		(9) 'Program' means a commercial property assessed conservation, energy, and resiliency97
122	107		program established by an authority.98
123	108		(10) 'Program administrator' means any official or agency designated by an authority to99
124	109		administer a program or a private and independent third party designated by an authority100
125	110		to administer a program, provided that the administration procedures used conform to the101
126	111		requirements of this article.102
127	112		(11) 'Program guidebook' means a comprehensive document that establishes appropriate103
128	113		guidelines, specifications, approval criteria, and other standard forms consistent with104
129	114		administering a program and not detailed in this article, including forms for an105
130	115		assessment agreement, notice of assessment, and financing application.106
131	116		(12) 'Qualifying improvement' means a permanently affixed energy efficiency107
132	117		improvement, renewable energy improvement, water conservation improvement, or108
133	118		resiliency improvement installed on qualifying property as part of the construction or109
134	119		renovation of the qualifying property.110
135	120		(13) 'Qualifying property' means privately owned or leased commercial, industrial, or111
136	121		agricultural real property or multifamily residential real property with five or more112
137	122		dwelling units.113
138	123		(14) 'Resiliency improvement' means any improvement to qualifying property intended114
139	124		to increase resilience and improve durability of such property, including, but not limited115
140	125		to, seismic retrofits, flood mitigation, fire suppression, wind resistance, energy storage,116
141	126		microgrids, and backup power generation."117
142	127		SECTION 4.118
143		-	H. B. 206
144		-	- 5 - 24 HB 206/AP
	128	+	- 5 - 24 HB 206/SCSFA
145	129		Said chapter is further amended by adding a new Code section to read as follows:119
146	130		"36-62-6.2.120
147	131		(a) In addition to the powers otherwise granted in this article, each authority shall have the121
148	132		following powers:122
149	133		(1) To make and execute intergovernmental assessment agreements, assessment123
150	134		agreements, and agreements for grants or loans to finance or refinance qualifying124
151	135		improvements;125
152	136		(2) To finance by loan, grant, or otherwise, including through assessment agreements,126
153	137		and refinance qualifying improvements and to pay the cost of any qualifying127
154	138		improvement from the proceeds of revenue bonds, notes, or other obligations of the128
155	139		authority or any other funds of the authority, or from any contributions or loans by129
156	140		persons, corporations, partnerships, whether limited or general, or other entities, all of130
157	141		which the authority is authorized to receive, accept, and use;131
158	142		(3) To issue revenue bonds, notes, or other obligations of the authority and use the132
159	143		proceeds thereof for the purpose of paying, or loaning or granting the proceeds thereof133
160	144		to pay, all or any part of the cost of any qualifying improvement and otherwise to further134
161	145		or carry out the public purpose of the authority and to pay all costs of the authority135
162	146		incidental to, or necessary and appropriate to, furthering or carrying out such purpose;136
163	147		(4) To extend credit or make loans or grants to any person, corporation, partnership,137
164	148		whether limited or general, or other entity for the costs of any qualifying improvement138
165	149		or any part of the costs of any qualifying improvement, which credit, loans, or grants may139
166	150		be evidenced or secured by loan agreements, grant agreements, assessment agreements,140
167	151		notes, mortgages, deeds to secure debt, trust deeds, security agreements, assignments, or141
168	152		such other instruments, or by assessments, revenues, fees, or charges, upon such terms142
169	153		and conditions as the authority shall determine to be reasonable in connection with such143
170	154		extension of credit, loans, or grants, including provision for the establishment and144
171	155		maintenance of reserve funds; and, in the exercise of powers granted by this article in145
172		-	H. B. 206
173		-	- 6 - 24 HB 206/AP
	156	+	- 6 - 24 HB 206/SCSFA
174	157		connection with any qualifying improvement, the authority shall have the right and power146
175	158		to require the inclusion in any such loan agreement, grant agreement, assessment147
176	159		agreement, note, mortgage, deed to secure debt, trust deed, security agreement,148
177	160		assignment, or other instrument of such provisions or requirements for guaranty of any149
178	161		obligations, insurance, construction, use, operation, maintenance, and financing of a150
179	162		qualifying improvement, and such other terms and conditions as the authority may deem151
180	163		necessary or desirable;152
181	164		(5) As security for repayment of any revenue bonds, notes, or other obligations of the153
182	165		authority, to pledge, convey, assign, hypothecate, or otherwise encumber any property154
183	166		of the authority, including, but not limited to, contract rights under intergovernmental155
184	167		assessment agreements and revenues or other funds, and to execute any trust indenture;156
185	168		trust agreement; agreement for the sale of the authority's revenue bonds, notes, or other157
186	169		obligations; loan agreement; security agreement; assignment; or other agreement or158
187	170		instrument as may be necessary or desirable, in the judgment of the authority, to secure159
188	171		any such revenue bonds, notes, or the obligations, which instruments or agreements may160
189	172		provide for foreclosure or forced sale of any property of the authority upon default in any161
190	173		obligation of the authority, either in payment of principal, premium, if any, or interest or162
191	174		in the performance of any term or condition contained in any such agreement or163
192	175		instrument. The State of Georgia, on behalf of itself and each county, municipal164
193	176		corporation, political subdivision, or taxing district therein, waives any right it or such165
194	177		county, municipal corporation, political subdivision, or taxing district may have to166
195	178		prevent the forced sale or foreclosure of any property of the authority upon such default167
196	179		and agrees that any agreement or instrument encumbering such property may be168
197	180		foreclosed in accordance with law and the terms thereof;169
198	181		(6) To receive and use the proceeds of any assessment imposed by a municipal170
199	182		corporation or a county to pay the costs of any qualifying improvement or for any other171
200	183		purpose for which the authority may use its own funds pursuant to this article, including172
201		-	H. B. 206
202		-	- 7 - 24 HB 206/AP
	184	+	- 7 - 24 HB 206/SCSFA
203	185		the payment of principal or premium, if any, and interest on revenue bonds, notes, or173
204	186		other obligations of the authority; and174
205	187		(7) To establish and administer programs and to appoint, select, and employ program175
206	188		administrators and to fix their compensation and pay their expenses.176
207	189		(b) When an authority exercises its grant powers given by subsection (a) of this Code177
208	190		section, in determining compliance with Article III, Section VI, Paragraph VI(a) of the178
209	191		Constitution of Georgia, the authority may take into consideration the assessments to be179
210	192		paid by the grant recipient, as well as the substantiality of the public purpose to be achieved180
211	193		by the grant."181
212	194		SECTION 5.182
213	195		Said chapter is further amended by adding new Code sections to read as follows:183
214	196		"36-62-8.1.184
215	197		(a) Revenue bonds, notes, or other obligations issued by an authority to finance or185
216	198		refinance the cost of any qualifying improvement shall be paid solely from the property,186
217	199		including, but not limited to, contract rights, revenues, or other funds, pledged, conveyed,187
218	200		assigned, hypothecated, or otherwise encumbered to secure or to pay such bonds, notes, or188
219	201		other obligations.189
220	202		(b) All revenue bonds, notes, and other obligations shall be authorized by resolution of the190
221	203		authority, adopted by a majority vote of the directors of the authority at a regular or special191
222	204		meeting.192
223	205		(c) Revenue bonds, notes, or other obligations issued to finance or refinance the cost of193
224	206		any qualifying improvement shall bear such date or dates; shall mature at such time or194
225	207		times, not more than 40 years from their respective dates; shall bear interest at such rate or195
226	208		rates, which may be fixed or may fluctuate or otherwise change from time to time; shall be196
227	209		subject to redemption on such terms; and shall contain such other terms, provisions,197
228	210		covenants, assignments, and conditions as the resolution authorizing the issuance of such198
229		-	H. B. 206
230		-	- 8 - 24 HB 206/AP
	211	+	- 8 - 24 HB 206/SCSFA
231	212		bonds, notes, or other obligations may permit or provide. The terms, provisions, covenants,199
232	213		assignments, and conditions contained in or provided or permitted by any resolution of the200
233	214		authority authorizing the issuance of such revenue bonds, notes, or other obligations shall201
234	215		bind the directors of the authority then in office and their successors.202
235	216		(d) The authority shall have the power from time to time and whenever it deems it203
236	217		expedient to refund any revenue bonds, notes, or other obligations issued to finance or204
237	218		refinance the cost of any qualifying improvement by the issuance of new revenue bonds,205
238	219		notes, or other obligations, whether or not the revenue bonds, notes, or other obligations206
239	220		to be refunded have matured, and may issue revenue bonds, notes, or other obligations207
240	221		partly to refund revenue bonds, notes, or other obligations then outstanding and partly for208
241	222		any other purpose permitted under this article. The refunding revenue bonds, notes, or209
242	223		other obligations may be exchanged for the revenue bonds, notes, or other obligations to210
243	224		be refunded, with such cash adjustments as may be agreed upon, or may be sold and the211
244	225		proceeds applied to the purchase or redemption of the revenue bonds, notes, or other212
245	226		obligations to be refunded.213
246	227		(e) There shall be no limitation upon the amount of revenue bonds, notes, or other214
247	228		obligations that an authority may issue to finance or refinance the cost of any qualifying215
248	229		improvement. Any limitations with respect to interest rates or any maximum interest rate216
249	230		or rates found in Article 3 of Chapter 82 of this title, the 'Revenue Bond Law,' the usury217
250	231		laws of this state, or any other laws of this state shall not apply to revenue bonds, notes, or218
251	232		other obligations of an authority issued to finance or refinance the cost of any qualifying219
252	233		improvement.220
253	234		(f) All revenue bonds issued by an authority under this article to finance or refinance the221
254	235		cost of any qualifying improvement shall be issued and validated under and in accordance222
255	236		with Article 3 of Chapter 82 of this title, the 'Revenue Bond Law,' except as provided in223
256	237		this article, provided that notes and other obligations of an authority may, but shall not be224
257	238		required to, be so validated.225
258		-	H. B. 206
259		-	- 9 - 24 HB 206/AP
	239	+	- 9 - 24 HB 206/SCSFA
260	240		(g) The terms 'cost of the qualifying improvement' and 'cost of any qualifying226
261	241		improvement' shall have the meaning prescribed in this article whenever those terms are227
262	242		referred to in bond resolutions of an authority; in bonds, notes, or other obligations of an228
263	243		authority; or in notices or proceedings to validate such bonds, notes, or other obligations229
264	244		of an authority.230
265	245		36-62-8.2.231
266	246		(a) A program shall establish a financing application and review process to evaluate such232
267	247		applications. The program shall prescribe the form and manner of the financing233
268	248		application. At a minimum:234
269	249		(1) An applicant shall demonstrate that the qualifying improvement provides a benefit235
270	250		to the public in the form of energy or water resource conservation or improved resiliency;236
271	251		(2) For an existing building:237
272	252		(A) When energy or water efficiency improvements are proposed, an applicant shall238
273	253		provide:239
274	254		(i) An energy or water efficiency analysis by a licensed engineering firm, engineer,240
275	255		or other qualified professional listed in the program guidebook; and241
276	256		(ii) A statement by the author of the analysis that the proposed qualifying242
277	257		improvements will result in more efficient use or conservation of energy or water, the243
278	258		reduction of greenhouse gas emissions, or the addition of renewable sources of energy244
279	259		or water; or245
280	260		(B) When resiliency improvements are proposed, an applicant shall provide246
281	261		certification by a licensed engineering firm, engineer, or other qualified professional247
282	262		listed in the program guidebook stating that the proposed qualifying improvements will248
283	263		result in improved resilience;249
284	264		(3) For new construction, an applicant shall provide certification by a licensed250
285	265		engineering firm, engineer, or other qualified professional listed in the program251
286		-	H. B. 206
287		-	- 10 - 24 HB 206/AP
	266	+	- 10 - 24 HB 206/SCSFA
288	267		guidebook stating that the proposed qualifying improvements will enable the qualifying252
289	268		property to exceed the current building code requirements for:253
290	269		(A) Energy efficiency;254
291	270		(B) Water efficiency;255
292	271		(C) Renewable energy; or256
293	272		(D) Resilience;257
294	273		(4) An applicant shall include a certification that the person requesting the proposed258
295	274		qualifying improvements is the owner of the qualifying property and that there are no259
296	275		delinquent taxes or assessments on the qualifying property; and260
297	276		(5) An applicant shall demonstrate that the proposed assessment financing meets the261
298	277		following guidelines and any other guidelines adopted by the authority, which may be in262
299	278		addition to or more restrictive than the following guidelines:263
300	279		(A) Unless a higher percentage is agreed to by the holder of a lien, mortgage, or264
301	280		security deed encumbering the qualifying property in the written consent required by265
302	281		subsection (b) of this Code section, an applicant must demonstrate that the amount of266
303	282		the proposed assessment financing and all other debt secured by the qualifying property267
304	283		upon execution of the assessment agreement will not exceed 80 percent of the fair268
305	284		market value of the qualifying property as determined by a qualified appraiser, which269
306	285		appraisal may take into account the expected increase in fair market value of the270
307	286		qualifying property resulting from the proposed qualifying improvements, as completed271
308	287		or as stabilized;272
309	288		(B) An applicant must demonstrate that the amount of the proposed assessment273
310	289		financing will not exceed 25 percent of the fair market value of the qualifying property274
311	290		as determined by a qualified appraiser, which appraisal may take into account the275
312	291		expected increase in fair market value of the qualifying property resulting from the276
313	292		proposed qualifying improvements, as completed or as stabilized; and277
314		-	H. B. 206
315		-	- 11 - 24 HB 206/AP
	293	+	- 11 - 24 HB 206/SCSFA
316	294		(C) An applicant must demonstrate that the period or term of the assessment financing278
317	295		will not exceed the weighted average useful life expected for the proposed qualifying279
318	296		improvements. The applicant shall include a statement from a qualified professional280
319	297		indicating the weighted average useful life expected for the proposed qualifying281
320	298		improvements.282
321	299		(b) For approved qualifying improvements, an authority may enter into an assessment283
322	300		agreement with the owner of the qualifying property to pay the cost of qualifying284
323	301		improvements. Prior to entering into an assessment agreement, an applicant shall provide285
324	302		written consent from any holder of a lien, mortgage, or security deed encumbering the286
325	303		qualifying property. Such written consent shall be signed in the sole and absolute287
326	304		discretion of the holder of a prior lien, mortgage, or security deed encumbering the288
327	305		qualifying property and, at a minimum, shall state that the holder of such prior lien,289
328	306		mortgage, or security deed has reviewed the final terms of the financing and the assessment290
329	307		agreement; that the qualifying property may participate in the program; and that the291
330	308		assessment lien shall have the same priority status as a lien for ad valorem taxes of the292
331	309		participating local government.293
332	310		(c) Each assessment agreement shall include:294
333	311		(1) A description of the qualifying improvements;295
334	312		(2) A statement describing the procedures for billing and collection of assessments to be296
335	313		imposed by the participating local government pursuant to an intergovernmental297
336	314		assessment agreement, which the owner of the qualifying property shall voluntarily298
337	315		request to be imposed and shall agree to pay either directly or through an escrow account299
338	316		that may be established or increased by a prior lien holder on the qualifying property;300
339	317		(3) The total amount of the assessment;301
340	318		(4) A schedule of assessment installments requested to be imposed by the participating302
341	319		local government;303
342		-	H. B. 206
343		-	- 12 - 24 HB 206/AP
	320	+	- 12 - 24 HB 206/SCSFA
344	321		(5) Any administrative fees to be paid to the authority or to the participating local304
345	322		government pursuant to the related intergovernmental assessment agreement;305
346	323		(6) The number of years the assessment shall be imposed on the qualifying property; and306
347	324		(7) The conditions under which the owner of the qualifying property may prepay and307
348	325		permanently satisfy the unpaid portion of the assessment and remove the assessment lien308
349	326		from the qualifying property, including a description of the terms of any prepayment309
350	327		penalty.310
351	328		(d) An assessment agreement may authorize the owner of the qualifying property to311
352	329		contract directly, including through lease, power purchase agreement, or other service312
353	330		contract, for installing or modifying a qualifying improvement.313
354	331		(e) Upon execution of an assessment agreement by an owner of the qualifying property314
355	332		and an authority, the authority shall cause the participating local government to execute and315
356	333		record a notice of assessment in the land record of the jurisdiction in which the qualifying316
357	334		property is located, in accordance with Article 2 of this chapter.317
358	335		(f) No authority described in this article shall grant any capital provider the exclusive right318
359	336		to provide financing or refinancing on a program-wide basis. It is the intent of this319
360	337		subsection to enable owners of qualifying properties to recommend to authorities the320
361	338		capital providers to finance or refinance the qualifying improvements owned or to be321
362	339		owned by such qualifying property owners."322
363	340		SECTION 6.323
364	341		Said chapter is further amended by adding a new article to read as follows:324
365	342		"ARTICLE 2325
366	343		36-62-15.326
367		-	H. B. 206
368		-	- 13 - 24 HB 206/AP
	344	+	- 13 - 24 HB 206/SCSFA
369	345		This article shall be known and may be cited as the 'Commercial Property Assessed327
370	346		Conservation, Energy, and Resiliency Cooperation Law.'328
371	347		36-62-16.329
372	348		The General Assembly finds that it is in the public interest and vital to the public welfare330
373	349		of the people of the State of Georgia, and it is declared to be the intent of this article, to331
374	350		authorize municipal corporations and counties to enact ordinances or resolutions to332
375	351		establish commercial property assessed conservation, energy, and resiliency programs and333
376	352		to enter into agreements with development authorities to carry out such programs, all for334
377	353		the purpose of developing trade, commerce, industry, and employment opportunities. It335
378	354		is found and declared that the assistance provided in this article for the purposes set forth336
379	355		in Article 1 of this chapter constitutes a public use and purpose and an essential337
380	356		governmental function for which public moneys consisting solely of assessments may be338
381	357		spent and that the provisions enacted in this article are necessary in the public interest.339
382	358		36-62-17.340
383	359		(a) For the purpose of aiding and cooperating in the planning, undertaking, constructing,341
384	360		or carrying out of qualifying improvements located within the area in which it is authorized342
385	361		to act, any municipal corporation or county, upon such terms, with or without343
386	362		consideration, as it may determine, may:344
387	363		(1) Enter into intergovernmental assessment agreements with an authority respecting345
388	364		action to be taken by such municipal corporation or county pursuant to any of the powers346
389	365		granted by this article, including the furnishing of funds or other assistance in connection347
390	366		with qualifying improvements, provided that the obligations of any such municipal348
391	367		corporation or county under any such intergovernmental assessment agreement shall be349
392	368		limited obligations payable solely from assessments and shall not be paid from any other350
393	369		public moneys;351
394		-	H. B. 206
395		-	- 14 - 24 HB 206/AP
	370	+	- 14 - 24 HB 206/SCSFA
396	371		(2) Do any and all things necessary or convenient to aid or cooperate in the planning,352
397	372		undertaking, constructing, and carrying out of qualifying improvements; and353
398	373		(3) Grant or contribute assessments to an authority or agree to take such action.354
399	374		(b) Any participating local government shall have the power to impose, bill, and collect355
400	375		assessments and to pledge and assign assessments to an authority to secure its obligations356
401	376		under an intergovernmental assessment agreement.357
402	377		(c) Pursuant to Code Section 36-62-8.2, an authority may enter into an assessment358
403	378		agreement with an owner of qualifying property for qualifying improvements, under which359
404	379		such owner voluntarily agrees to the imposition of assessments under this article. After an360
405	380		assessment agreement is entered into, and upon notice from the authority, a participating361
406	381		local government shall have the power to execute and record a notice of assessment on the362
407	382		subject property in the real property records of the relevant county. Such notice of363
408	383		assessment shall contain:364
409	384		(1) The principal amount of the assessment;365
410	385		(2) The legal description of the property;366
411	386		(3) The name of each property owner;367
412	387		(4) A copy of the assessment agreement, including a schedule of assessments to be368
413	388		imposed by the participating local government; and369
414	389		(5) A reference to subsection (d) of this Code section authorizing the creation of an370
415	390		assessment lien to secure an assessment imposed under this article.371
416	391		(d) An assessment imposed by a participating local government under this article:372
417	392		(1) Is a lien against the property on which the assessment is imposed, from the date on373
418	393		which the notice of assessment is recorded until the assessment, interest, and penalties374
419	394		are paid in full; and375
420	395		(2) Has the same priority status as a lien for ad valorem taxes levied by the participating376
421	396		local government.377
422		-	H. B. 206
423		-	- 15 - 24 HB 206/AP
	397	+	- 15 - 24 HB 206/SCSFA
424	398		(e) The assessment lien created under this article runs with the land and that portion of the378
425	399		assessment that is not yet due may not be accelerated or eliminated by foreclosure of a379
426	400		property tax lien or other lien.380
427	401		(f) Assessments imposed under this article shall be billed and collected in installments in381
428	402		the same manner, by the same tax collector, and at the same times as ad valorem taxes382
429	403		levied by the participating local government are billed and collected. The tax collector may383
430	404		include any assessment installment as a separate line item on an ad valorem tax bill or may384
431	405		send a separate bill for any assessment installment. The participating local government385
432	406		may charge fees that shall reflect the reasonable costs of the tax collector for his or her386
433	407		actions under this subsection and that shall be added to the assessment. The tax collector387
434	408		shall be a party signatory to each intergovernmental assessment agreement entered into by388
435	409		a participating local government. All proceeds of assessment installments received by a389
436	410		participating local government, net of administrative fees of the participating local390
437	411		government, that are subject to a pledge created in an intergovernmental assessment391
438	412		agreement shall be remitted to the applicable authority pursuant to the terms of the392
439	413		intergovernmental assessment agreement.393
440	414		(g) A delinquent assessment installment that is unpaid when due shall incur interest and394
441	415		penalties in the same manner as delinquent ad valorem taxes and shall be enforced by or395
442	416		on behalf of the participating local government in the same manner as its ad valorem tax396
443	417		liens. All proceeds from enforcing a delinquent assessment installment and related397
444	418		penalties and interest received by a participating local government that are subject to a398
445	419		pledge created in an intergovernmental assessment agreement shall be remitted to the399
446	420		applicable authority pursuant to the terms of the intergovernmental assessment agreement.400
447	421		(h) Subject to an intergovernmental assessment agreement, a participating local401
448	422		government may charge fees that shall reflect the reasonable costs of the participating local402
449	423		government for its actions under this article and that shall be added to the assessment.403
450		-	H. B. 206
451		-	- 16 - 24 HB 206/AP
	424	+	- 16 - 24 HB 206/SCSFA
452	425		(i) Assessments shall not count against the tax limitations contained in paragraph (20) of404
453	426		Code Section 48-5-220 or Code Section 48-5-350.405
454	427		36-62-18.406
455	428		(a) No obligations of any participating local government under any intergovernmental407
456	429		assessment agreement shall constitute a pledge of the full faith or credit of such408
457	430		participating local government.409
458	431		(b) Any monetary obligation of any participating local government under any410
459	432		intergovernmental assessment agreement shall be payable solely from assessments pledged411
460	433		and proceeds from enforcing delinquent assessments pursuant to such intergovernmental412
461	434		assessment agreement.413
462	435		(c) No party to or third-party beneficiary of any intergovernmental assessment agreement414
463	436		or any assignee of any rights under any intergovernmental assessment agreement shall have415
464	437		the right to compel:416
465	438		(1) Any exercise of the taxing power of any participating local government, provided417
466	439		that such party, third-party beneficiary, or assignee may compel the imposition and418
467	440		enforcement of assessments agreed to be imposed and enforced pursuant to such419
468	441		intergovernmental assessment agreement; or420
469	442		(2) The enforcement of any payment against any property or public moneys of any such421
470	443		participating local government other than assessments pledged or proceeds from422
471	444		enforcing delinquent assessments pursuant to such intergovernmental assessment423
472	445		agreement.424
473	446		36-62-19.425
474	447		The exercise by a participating local government of the powers granted by this article may426
475	448		be authorized by resolution of the governing body of such participating local government.427
476	449		The resolution shall be adopted by a majority of the members of the governing body428
477		-	H. B. 206
478		-	- 17 - 24 HB 206/AP
	450	+	- 17 - 24 HB 206/SCSFA
479	451		present at a meeting of such governing body, which resolution may be adopted at the429
480	452		meeting at which such resolution is introduced. Such a resolution or resolutions shall take430
481	453		effect immediately and need not be laid over or published or posted."431
482	454		SECTION 7.432
483	455		This Act shall become effective upon its approval by the Governor or upon its becoming law433
484	456		without such approval.434
485	457		SECTION 8.435
486	458		All laws and parts of laws in conflict with this Act are repealed.436
487		-	H. B. 206
488	459		- 18 -