Bill Text: GA HB320 | 2011-2012 | Regular Session | Introduced

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Bill Title: Development Authority Jobs Assistance Act of 2011; enact

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced - Dead) 2011-02-24 - House Second Readers [HB320 Detail]

Download: Georgia-2011-HB320-Introduced.html

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11 LC 35 2117

House Bill 320

By: Representative Stephens of the 164th

A BILL TO BE ENTITLED
AN ACT

To create the "Development Authority Jobs Assistance Act of 2011"; to amend Code Section 48-8-3 of the Official Code of Georgia Annotated, relating to exemptions from sales and use tax, so as to provide for exemptions for certain sales or leases in connection with development authority projects; to provide for applicability regarding contractors and vendors; to provide for conditions and limitations; to repeal conflicting laws; and for other purposes.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:

SECTION 1.

This Act shall be known and may be cited as the "Development Authority Jobs Assistance Act of 2011."

SECTION 2.

Code Section 48-8-3 of the Official Code of Georgia Annotated, relating to exemptions from sales and use tax, is amended by replacing "; or" with a semicolon at the end of paragraph (90), by replacing the period with "; or" at the end of paragraph (91), and by adding a new paragraph to read as follows:

"(92)(A) Sales of tangible personal property for a project to be owned by a development authority when in connection with such project the development authority issues bonds, revenue bonds, notes, or other obligations, or when the development authority pays for such property with other funds of the authority. Such property may be leased or sold by a development authority to any private person or entity and such lease or sale shall be exempt from sales and use tax. Notwithstanding Code Section 48-8-63 or other law, this exemption shall apply to a development authority, to any contractor incorporating such personal property into real property for any such project, and to any vendor supplying any such tangible personal property. The exemption shall extend, without limitation, to machinery and equipment, to building materials incorporated into a building to be sold to a development authority, and to all other types of tangible personal property, provided that the development authority obtains a certificate of exemption under this paragraph for such project. The commissioner shall promulgate such rules and regulations necessary to administer the issuance of certificates of exemption.

(B) As used in this paragraph, the term 'development authority' means any authority or public corporation created by a local constitutional amendment or by any general, local, or special Act of the General Assembly which is authorized by law to issue bonds, revenue bonds, notes, or other obligations and which has purposes relating to promoting the development of any one or more of the following: trade, commerce, industry, agriculture, tourism, or employment opportunities."

SECTION 3.

All laws and parts of laws in conflict with this Act are repealed.