Bill Text: GA HB483 | 2009-2010 | Regular Session | Comm Sub
Bill Title: Ad valorem tax; modernization and revisions of certain provisions; provide
Spectrum: Partisan Bill (Republican 4-0)
Status: (Engrossed - Dead) 2010-04-20 - Senate Committee Favorably Reported [HB483 Detail]
Download: Georgia-2009-HB483-Comm_Sub.html
10 LC 18
9237TS
The
Senate Finance Committee offered the following substitute to HB
483:
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Article 10A of Chapter 5 of Title 48 of the Official Code of Georgia
Annotated, relating to ad valorem taxation of heavy-duty equipment motor
vehicles, so as to revise and change the partial exemption from ad valorem
taxation of heavy-duty equipment motor vehicles; to provide for related matters;
to provide for an effective date; to repeal conflicting laws; and for other
purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Article
10A of Chapter 5 of Title 48 of the Official Code of Georgia Annotated, relating
to ad valorem taxation of heavy-duty equipment motor vehicles, is amended by
revising Code Section 48-5-506.1, relating to a partial exemption from ad
valorem taxation of heavy-duty equipment motor vehicles, as
follows:
"48-5-506.1.
(a)
As used in this Code section, the term:
(1)
'Heavy-duty equipment motor vehicle' means an off-road vehicle with all its
attachments and parts which is self-propelled, weighs 5,000 pounds or more, and
is primarily designed and used exclusively for utility services and maintenance,
earth moving, construction, industrial, maritime, or mining uses, provided that
such motor vehicles are not required to be registered and have a license
plate.
(2)
'Natural person or entity' means a natural person or entity that has purchased a
heavy-duty equipment motor vehicle. Such term shall not include any publicly
traded
company, any
cooperative, or any publicly owned
utility.
(b)
For the period of time commencing on January 1, 2010, and concluding at the last
moment of December 31, 2010, the provisions of this Code section shall supersede
and control over any contrary provision of this article.
(c)
The provisions of
this
article or Part 2 of Article 10 of this chapter, as applicable, shall apply to
any or all of the following and this Code
section shall not apply to any or all of the following:
(1)
Publicly traded companies;
(2)
Heavy-duty equipment motor vehicle dealers; and
(3)
Natural persons or entities in the year of purchase of a heavy-duty equipment
motor vehicle.
(d)(1)
A natural person or entity, or any combination of natural persons and entities
with common ownership interests, who owns one or more heavy-duty equipment motor
vehicles is granted an exemption on that person's or entity's heavy-duty
equipment motor vehicles
in the
amount of the full value of such heavy-duty equipment motor
vehicles up to a maximum amount of
$100,000.00
per taxable year
50 percent of
the assessed value of such heavy-duty equipment motor
vehicles.
(2)
The value of heavy-duty equipment motor vehicles in excess of such exempted
amount shall remain subject to taxation under
either the
provisions of this article or Part 2 of Article 10
of this
chapter, as
applicable.
(3)
The ad valorem exemption authorized by this subsection shall only be granted if
applied for with the county board of tax assessors prior to July 1,
2010.
(e)
This Code section is repealed in its entirety at the last moment of December 31,
2010."
SECTION
2.
This
Act shall become effective upon its approval by the Governor or upon its
becoming law without such approval.
SECTION
3.
All
laws and parts of laws in conflict with this Act are repealed.