Deal signs GWCC bonding capacity bill

[private]Gov. Nathan Deal has signed HB 264, a bill that will double the Georgia World Congress Center’s authorized bonding capacity from $200 million to $400 million.

GWCC officials have indicated they will use the expanded bonding capacity to finance the construction of a new hotel near the World Congress Center that would cost an estimated $260 million to build.

Critics of the bill, such as Sen. Bill Heath (R-Bremen), had questioned whether the expansion of the GWCC’s bonding capacity would affect Georgia’s AAA bond rating with the credit rating agencies.

“These bonds are the sole responsibility of the Georgia World Congress Center Authority,” Sen. Butch Miller (R-Gainesville) said during debate on the bill. “The state of Georgia has no responsibility in this indebtedness.”

Deal also signed SB 121, which codifies the Board of Pharmacy’s vote to make the opioid overdose drug Naloxone an over-the-counter drug.

© 2017 by The Georgia Report

Tags: Georgia World Congress Center