Bill Text: GA HB1249 | 2009-2010 | Regular Session | Comm Sub
Bill Title: Ad valorem tax exemption; businesses providing new jobs; provisions
Spectrum: Partisan Bill (Republican 3-0)
Status: (Introduced - Dead) 2010-03-17 - House Committee Favorably Reported [HB1249 Detail]
Download: Georgia-2009-HB1249-Comm_Sub.html
10 LC 38
1114S
The
House Special Committee on Small Business Development and Job Creation offers
the following substitute to HB 1249:
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Part 1 of Article 2 of Chapter 5 of Title 48 of the Official Code of
Georgia Annotated, relating to ad valorem tax exemptions, so as to provide for
an exemption from local ad valorem taxes assessed on certain tangible real
property for certain businesses providing new jobs; to provide for
qualifications for such businesses; to provide for procedures for the approval
for such exemptions; to provide for related matters; to provide for a contingent
effective date; to provide for automatic repeal; to repeal conflicting laws;
and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Part
1 of Article 2 of Chapter 5 of Title 48 of the Official Code of Georgia
Annotated, relating to ad valorem tax exemptions, is amended by adding a new
Code section to read as follows:
"48-5-48.5.
(a)
As used in this Code section, the term 'job creating business project' means any
business project designated by the Department of Economic Development to be a
business project that will create no fewer than 50 jobs for the county or
municipal governing authority providing an ad valorem exemption pursuant to this
Code section.
(b)(1)
The governing authority of any county or municipality may, subject to the
approval of the governing authority of such county or municipality, provide an
exemption from ad valorem taxation for a period of three years, including all
such taxes levied for educational purposes, for all inventory goods and tangible
real property subject to an ad valorem exemption pursuant to a job creating
business project.
(2)
To be designated a job creating business project, a person shall submit an
application to the Department of Economic Development. Such application shall
include the city or county in which the person wishes to propose the job
creating business project. If the Department of Economic Development approves
such application and designates the project a job creating business project, the
Department of Economic Development shall forward the application together with
the details of such project to the governing authority of the city or county in
which the job creating business project is proposed to be constructed. The
governing authority for the city or county in which the job creating business
project is proposed to be constructed shall vote whether to approve the project
and the ad valorem tax exemptions provided for pursuant to this
subsection.
(c)
The Commissioner of the Department of Economic Development shall by regulation
adopt uniform criteria, procedures, and forms regarding the application process
for job creating business
projects."
SECTION
2.
This
Act shall become effective on January 1, 2011; provided, however, that this Act
shall only become effective on January 1, 2011, upon the ratification of a
resolution at the November 2010, state-wide general election that amends the
Constitution so as to authorize the governing authority of a county or
municipality to provide exemption from ad valorem taxation to a job creating
business project. If such resolution is not so ratified, this Act shall not
become effective and shall stand repealed in its entirety
immediately.
SECTION
3.
All
laws and parts of laws in conflict with this Act are repealed.
