§ 36-82-180. Short Title

This article shall be known and may be cited as the “Georgia Allocation System.” History. Code 1981, § 36-82-180 , enacted by Ga. L. 1987, p. 486, § 1; Ga. L. 1990, p. 817, § 1.

§ 36-82-181. Legislative Purpose

The economic development and the availability of safe, sanitary, and affordable housing in the State of Georgia are of vital importance to the state and its citizens. Private activity bond financing has been an integral part of the state’s program for economic development and affordable housing. The United States government has enacted a law which […]

§ 36-82-182. Definitions

As used in this article, the term: “Amount” means, when used with respect to bonds, notices of allocation, or portions of the state ceiling, an amount measured in terms of United States dollars. “Application” means the application and amendments thereto for a notice of allocation required to be filed by an issuer with the department […]

§ 36-82-183. Powers of Department

The department shall administer, operate, and manage the system. Action taken by the department, however, shall not constitute an opinion of the department on any legal matters with respect to the federal or state tax treatment of any bonds. Without limiting the generality of the department’s power and authority to administer, operate, and manage the […]

§ 36-82-184. Determination of State Ceiling; Records Required

The amount of the state ceiling shall be determined by the department in accordance with the Federal Code. The amount of the state ceiling available at any time shall be the amount, determined by the department, which results from subtracting from the state ceiling: The amount of bonds issued pursuant to notices of allocation and […]

§ 36-82-185. Application for Notice of Allocation; Receipt of Application; Issue of Notice; Confirmation of Bond Issue; Certificates Under Federal Code

Applications for notices of allocation shall be filed, received, and acted on by the department as set forth in this Code section. Applications shall be filed on such forms as the commissioner shall require. Each application shall be accompanied by the following: A copy of the inducement resolution or other similar official action taken by […]

§ 36-82-186. Economic Development Share

Commencing on April 1, 1990, the economic development share for 1990 is established in an amount equal to 40 percent of the state ceiling.  The 1990 percentage shall include any allocations made from the competitive pool prior to April 1, 1990.  The economic development share for 1991 and each year thereafter is established in an […]

§ 36-82-187. Application for Economic Development Share and Competitive Pool Allocation; Priority of and Approval of Application; Carrying Over; Time and Amount Limitation

Applications for notices of allocation from the economic development share must be received by the department no later than June 30 of 1990 or September 30 of 1991 and September 30 each year thereafter. Applications for notices of allocation from the economic development share may only be filed for small issue bonds, exempt facility bonds, […]

§ 36-82-188. Employment Test

In order to qualify for a notice of allocation from the economic development share, a project must satisfy the employment tests as defined in this Code section. To satisfy the employment tests, a project must either: Be reasonably expected to increase employment within the territorial area of operation of the issuer by not less than […]

§ 36-82-189. Housing Share

Commencing on April 1, 1990, the housing share for 1990 is established in an amount equal to 40 percent of the state ceiling. The 1990 percentage shall include any allocations made from the housing share made prior to April 1, 1990. The housing share for 1991 and each year thereafter is established in an amount […]

§ 36-82-190. Reservations From Housing Share

Commencing on April 1, 1990, and extending through June 30, 1990, and for 1991 and each year thereafter commencing on January 1 and extending through September 30, reservations from the housing share shall be as follows: Sixty-two percent shall be reserved for the Georgia Housing and Finance Authority for any qualified housing project.  This shall […]

§ 36-82-191. Applications for Single-Family Bond Projects; Issue of Notice; Confirmation; Exploration

Applications for single-family bond projects must be filed no later than June 30 of 1990 or September 30 of 1991 and September each year thereafter to be eligible to receive an allocation from the housing share. Each application for a single-family project shall be accompanied by the following: The items specified in Code Section 36-82-185; […]

§ 36-82-192. Requirements for Applications for Qualified Residential Rental Projects; Periods for Notices of Allocation; Expiration Dates for Notices; Confirmation of Issuance Required

Applications for qualified residential rental projects shall be accompanied by the following: The items specified in Code Section 36-82-185; A written opinion of legal counsel addressed to the department to the effect that the bonds which are covered by the application will, based upon the information available at that time to such legal counsel, qualify […]

§ 36-82-193. Flexible Share for 1990

Commencing on April 1, 1990, the flexible share for 1990 is established in an amount equal to 20 percent of the state ceiling. The 1990 percentage shall include any allocations made from the flexible pool prior to April 1, 1990. The flexible share for 1991 and years thereafter shall be in an amount equal to […]

§ 36-82-194. Application for Flexible Pool Allocation; Issue of Notice; Confirmation; Expiration

Applications for notices of allocation from the flexible share shall be received and acted on by the department as set forth in this Code section. Applications for housing bonds shall be filed on the same forms and accompanied by the same items as applications for notices of allocation with respect to such bonds from the […]

§ 36-82-195. Policy Guidelines for Making Allocations

When the department is required to decide which applications should receive a notice of allocation, it shall compare the applications from which the selection is to be made, applying the policy guidelines set forth in this Code section. These policy guidelines are designed to assist the department in making its decisions and are not intended […]

§ 36-82-196. Factors to Consider in Applying Policy Guidelines

When the department is required to apply the policy guidelines it may consider such factors, known as evaluation factors, in deciding which applications should receive a notice of allocation. The evaluation factors to be considered shall include, but are not limited to, the number of permanent jobs created or retained; the commitment of the borrower […]

§ 36-82-197. Transfer of Fund From Economic Development Share or Applicable Reservation Component of Housing Share to the Flexible Share

If after the first six months of the year, 75 percent or more of the economic development share or any one or more reservation components of the housing share remains unallocated, the commissioner may transfer any available state ceiling, or any part thereof, from the economic development share or the applicable reservation component of the […]

§ 36-82-198. Flexible Share Carryforward Funds

The department may set aside and reserve from the flexible share amounts which may be treated as a carryforward for one or more carryforward purposes, within the meaning of Section 146 of the Federal Code. Section 146 of the Federal Code requires an election for the use of such carryforward to a future year or […]

§ 36-82-199. Carryforward Applications

Unless otherwise determined by the commissioner, carryforward election applications must be filed with the department no later than December 1 of each year. Carryforward election applications shall be filed, received, and acted upon by the department as set forth in this Code section. Carryforward election applications shall be filed on a form promulgated from time […]