TITLE 36 LOCAL GOVERNMENT

Chapter 82 information not found

ARTICLE 8 GEORGIA ALLOCATION SYSTEM

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 housing share, as the case may be, to the flexible share, if the commissioner anticipates that such amounts are not likely to be used in either the economic development share or the applicable reservation component of the housing share; provided, however, that no such transfer may be made by the commissioner if an issuer submits a letter to the commissioner indicating that such issuer intends to use all or a portion exceeding 25 percent of the respective share or components thereof.

(Code 1981, §36-82-204, enacted by Ga. L. 1987, p. 486, § 1; Code 1981, §36-82-197, as redesignated by Ga. L. 1990, p. 817, § 1.)