ATLANTA – State Representative Ben Harbin (R-Evans) announced today the introduction of House Bill 951, legislation that would ensure that proceeds earned from the sale of general obligation bonds are spent only for their specifically designated purpose.
“The purpose of this bill is to ensure that the taxpayers have oversight of these funds,” said Rep. Harbin. “When the General Assembly approved bonds, we, along with our constituents, expect the funds from those bonds to be spent for a very specific purpose. HB 951 provides a more transparent state government by ensuring that bond revenue is spent only for the exact purpose for which it was approved.”
Currently agencies may redirect bond funds from one project to another to meet the agency’s needs. These transfers are only allowed with the approval of the Georgia State Financing and Investment Commission as well as the Governor’s Office of Planning and Budget. However approval from the General Assembly, which appropriates these funds, is currently not required.
HB 951 increases transparency and accountability for these general obligation bond proceeds by requiring that the funds shall not be redirected without approval from the General Assembly.
For more information on HB 951, please click here.
Representative Ben Harbin represents the citizens of District 118, which includes portions of Columbia County. He was elected into the House of Representatives in 1994, and currently serves on the Appropriations, Energy, Utilities & Telecommunications, Insurance, Intragovernmental Coordination, and Ways & Means committees.
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