Bill Text: GA HB851 | 2011-2012 | Regular Session | Comm Sub

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Taxation of intangibles; rates charged by collecting officers; change certain requirements

Spectrum: Partisan Bill (Republican 4-0)

Status: (Passed) 2012-05-01 - Effective Date [HB851 Detail]

Download: Georgia-2011-HB851-Comm_Sub.html

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12 LC 34 3494S

The Senate Finance Committee offered the following substitute to HB 851:

A BILL TO BE ENTITLED
AN ACT

To amend Code Section 48-6-73 of the Official Code of Georgia Annotated, relating to reports and distributions regarding the taxation of intangibles, so as to change certain requirements regarding the rates to be charged by collecting officers; 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.

Code Section 48-6-73 of the Official Code of Georgia Annotated, relating to reports and distributions regarding the taxation of intangibles, is revised as follows:

"48-6-73.

Each collecting officer shall make a report to the commissioner by the tenth day of each month on forms prescribed by the commissioner of all sums collected and remitted under this article for the preceding month. The collecting officer shall retain 6 percent of the tax collected as compensation for said officer's services in collecting the tax. All such taxes shall be deemed to have been collected by the collecting officer in said officer's official capacity. Failure to collect and distribute the tax as provided by law shall constitute a breach of the official duty and of the official bond of the collecting officer. In each county in which the collecting officer is on a salary, the 6 percent commission allowed by this Code section shall be paid into the county treasury and shall become county property. The long-term notes secured by real property upon which this tax is based shall not be placed upon the property tax digest prepared and maintained by the tax receiver. It is the intention of the General Assembly that the 6 percent commission permitted under this article for the collection and distribution of this tax by the collecting officer shall be the only compensation permitted to any collecting officer with respect to this tax. In counties having a population of more than 650,000, according to the United States decennial census of 2000 or any future such census, however, the commission allowed under this article as compensation to the collecting officer shall be 4 percent."

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.