News feed [Apr. 5, 2002]

April 5, 2002 News Feed
(Please feel free to personalize)
Greetings, this is Rep. _____________.
With lawmakers in recess and the 40th day approaching time is available to revisit a major issues still awaiting final resolution.
During the first couple of weeks in January a number of issues loomed large, including natural gas deregulation, predatory lending, rural road building, and the need for hundreds of classrooms to accommodate the mandatory class size reductions brought about by Georgia's education reform.
Some issues, such as the bond packages to fund the construction of new roads and more classrooms, have already cleared both the House and Senate. Others underwent changes in one legislative body or the other, and await resolution through a compromise position both chambers can agree upon. Predatory lending falls under the latter category.
During its journey through the House, HB 1361 picked up several amendments which a majority of House lawmakers felt added balance to the legislation. Among the amendments approved by the House were provisions allowing exemptions for certain fees and a removal of the mandatory court foreclosure language.
Saying the House amendments had effectively removed all the teeth from the legislation, Senate lawmakers removed practically all the House changes. Fearful that over regulation could create a situation in which only the most desirable borrowers would be able to receive loans, House lawmakers have disagreed with the Senate changes. The differences between the two versions must now be worked out during a conference committee, with the desired result being a

legislative package that protects Georgia's most vulnerable citizens from pirate

lenders, while ensuring the availability of loan money for second chance and sub-

prime borrowers.

Reporting from your state capitol this is Rep._________. If you have any

questions or comments please do not hesitate to call me at (404) 656 (

).