Hello Everyone...Good News!!! SB491 PASSED!!!
A big THANK YOU to each of you for your hard work and your advocacy in support for families needing stable housing...Today we can celebrate together the win of passing SB491 allowing families to set up House Savings Acct. that will help them to move into stable permanent housing.
I am writing to request your support of SB491 which allows individuals to set up a House Savings Acct. This account will operate just as the 529 does for education and the HSA (Health Savings Account) does for health.
This bill will also allow Rural Georgians to participate in homeownership before the investors start buying up more of rural Georgia and causing the residents to be misplaced...SB491 allows for affordable housing via Down Payment Asst and balanced growth in the community between need for homeownership and rentals...
SB491 will restore the American Dream of Homeownership...It will allow families wanting to own a home to be able to do so and not be impacted by the rising rents and housing instability. As you know, homeownership also helps close the wealth gap as well...
I am a member of NAREB (National Association of Real Estate Brokers) and we advocate on getting families into homeownership. This effort will prevent families being hit with high rent by investors and stabilize the education and learning of our children.
NAREB has joined with other housing coalition groups working to create affordable housing and we felt that Down Payment Asst. could be a tool to help families wanting to live the American Dream of owing a house. Some of the groups are No Labels, Star-C, GaAct, Concerned Black Clergy, NAACP-Ga H.O.M.E. Taskforce, Sconiers Homeless Preventive, PSE, H.A.S.T.E.,etc.
Monday, March 7th, 2022, Banking and Finance Chair, Senator Matt Brass, held a Senate Hearing on SB491 in the Georgia General Assembly...The passing of SB491 was epic for the coalition and families across Georgia...Senator Gail Davenport presented SB491 that was passed unanimously with the leadership and support of Senator Matt Brass. My understanding is that SB491 is currently in the Rules Committee...
SB491 will now go to the House for approval...We are asking for your support to urge your legislators to pass and support SB491, to Restore the American Dream of Homeownership...With your support and participation, we can make SB491, House Savings Acct, happen this session.
Check here to find your Legislator
Thank you,
Barbara Guillory
NAREB Member - Lead
Real Estate Consultant
LevelBlend@yahoo.com