Georgia House of Representatives - 1995/1996 Sessions

HB 429 - Law enforcement officers; residence in high crime area; financing

Page Numbers - 1/ 2/ 3

1. Stancil  16th


House Comm: SPCA       /                Senate Comm:            /                                   
House Vote: Yeas       Nays             Senate Vote: Yeas     Nays                                  
              ----------------------------------------                                              
               House          Action         Senate                                                 
              ----------------------------------------                                              
              1/26/95  Read 1st Time                                                                
              1/27/95  Read 2nd Time                                                                
              ----------------------------------------                                              
                                                                                                    
Code Sections amended:                                                                              


HB 429                                            LC 14 6402






                        A BILL TO BE ENTITLED
                               AN ACT


  1- 1  To amend Code Section 50-26-17, relating to the acquisition,
  1- 2  management, development, disposition, and financing of
  1- 3  property by the Georgia Housing and Finance Authority, so as
  1- 4  to direct the authority to develop a special program of
  1- 5  financing law enforcement officers' purchases of homes in
  1- 6  high crime areas; to provide for legislative findings; to
  1- 7  provide certain conditions and criteria to be included in
  1- 8  such program; to provide for favorable terms in such
  1- 9  financing upon the making of certain commitments by
  1-10  participating political subdivisions and participating law
  1-11  enforcement officers; to provide for forgiveness of
  1-12  remaining indebtedness upon the completion of certain
  1-13  commitments; to provide for related matters; to repeal
  1-14  conflicting laws; and for other purposes.

  1-15       BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:

                         SECTION 1.

  1-16  Code Section 50-26-17, relating to the acquisition,
  1-17  management, development, disposition, and financing of
  1-18  property by the Georgia Housing and Finance Authority, is
  1-19  amended by adding at its end a new subsection (g) to read as
  1-20  follows:

  1-21    "(g) The authority shall establish a special loan program
  1-22    designed to provide or facilitate the financing on
  1-23    favorable terms of single-family residential home
  1-24    purchases in high crime areas by law enforcement officers.
  1-25    The authority may use any funds appropriated or otherwise
  1-26    available to the authority for purposes of such program.
  1-27    The General Assembly finds and declares that such program
  1-28    will further the public purpose of reducing crime in this
  1-29    state and that the commitments on the part of a
  1-30    participating political subdivision and a participating
  1-31    law enforcement officer, as provided in the following
  1-32    conditions and criteria, constitute good and adequate
  1-33    consideration for the state's and the authority's
  1-34    participation in the program.  Such program shall be


                                 -1- (Index)

                                                  LC 14 6402

  2- 1    established and operated subject to the following
  2- 2    conditions and criteria and such other reasonable
  2- 3    conditions and criteria as may be established by the
  2- 4    authority consistent with the purposes of this subsection:

  2- 5      (1) Any financing provided pursuant to such program
  2- 6      shall be for the financing of a single-family
  2- 7      residential home purchase by a full-time law enforcement
  2- 8      officer of a political subdivision of this state within
  2- 9      an area within such political subdivision which has been
  2-10      designated by the governing authority of the political
  2-11      subdivision as a high crime area;

  2-12      (2) Such financing shall be interest free and shall be
  2-13      amortized over a period of at least 15 years, with a
  2-14      down payment requirement not to exceed 5 percent of the
  2-15      total purchase price;

  2-16      (3) No area shall be designated by a local governing
  2-17      authority as a high crime area for purposes of this
  2-18      program unless there is within such area a statistically
  2-19      demonstrable significantly higher rate of serious crime
  2-20      than within the political subdivision as a whole;

  2-21      (4) The consent and endorsement of the local governing
  2-22      authority employing the participating law enforcement
  2-23      officer shall be a condition precedent to the provision
  2-24      of any financing provided pursuant to the program;

  2-25      (5) As a part of such consent and endorsement by the
  2-26      employing local governing authority, such governing
  2-27      authority shall agree that an official law enforcement
  2-28      vehicle shall be made available to the participating law
  2-29      enforcement officer for transportation between such
  2-30      officer's financed home and such officer's place of
  2-31      employment;

  2-32      (6) The participating law enforcement officer shall
  2-33      agree that he or she will use the financed home as his
  2-34      or her primary residence for a period of at least eight
  2-35      years and that during off-duty hours at and around his
  2-36      or her financed home, the officer will make reasonable
  2-37      efforts to observe the area for evidence of criminal
  2-38      activity and will either investigate any such evidence
  2-39      or report it to the appropriate authorities;

  2-40      (7) The terms of such financing shall include a
  2-41      provision that if the participating law enforcement
  2-42      officer continues to serve as a law enforcement officer



                                 -2- (Index)

                                                  LC 14 6402

  3- 1      and continues to reside in the financed home for a
  3- 2      period of eight years, then all remaining indebtedness
  3- 3      on the financing shall be excused and the home shall
  3- 4      become the property of the participating officer in fee
  3- 5      simple; and

  3- 6      (8) The terms of such financing shall include a
  3- 7      provision that if the participating law enforcement
  3- 8      officer fails to fulfill the conditions specified in
  3- 9      paragraphs (6) and (7) of this subsection, then the
  3-10      favorable terms of the financing may be changed to
  3-11      include any specified terms lawfully permitted in any
  3-12      conventional single-family residential home financing
  ddrposd?
Ðz@d{?
Ðz@dâ?
Ðz@dI?
Ðz@d>
Ðz@dk>
Ðz@dÒ>


                         SECTION 2.

  3-14  All laws and parts of laws in conflict with this Act are
  3-15  repealed.































                                 -3- (Index)