Bill Text: GA SB409 | 2009-2010 | Regular Session | Comm Sub

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

---

Bill Title: Taxes; provide statement of intent of General Assembly; granting a tax break; raw forest products

Spectrum: Partisan Bill (Republican 6-0)

Status: (Passed) 2010-07-01 - Effective Date [SB409 Detail]

Download: Georgia-2009-SB409-Comm_Sub.html

---

10 LC 21 0720ERS

The Senate Finance Committee offered the following substitute to SB 409:

A BILL TO BE ENTITLED
AN ACT

To amend Chapter 1 of Title 48 of the Official Code of Georgia Annotated, relating to general provisions relative to revenue and taxation, so as to provide a short title; to define certain terms; to provide a statement of intent of the General Assembly relative to the granting of an economic incentive to users of raw forest products; 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 "Georgia Forest Product Fairness Act".

SECTION 2.

Chapter 1 of Title 48 of the Official Code of Georgia Annotated, relating to general provisions relative to revenue and taxation, is amended by adding a new Code section to read as follows:

"48-1-10.

(a) As used in this Code section, the term:

(1) 'Economic incentive' means any tax exemption, tax credit, tax exclusion, tax deduction, rebate, investment, contract, or grant made available by the state directly to support the purchase of raw forestry products. Such term shall not mean any such benefit available under statutorily provided programs.

(2) 'Raw forest product' means any raw material harvested or recovered from forest wood or wood waste at its initial conversion.

(b) It is the intent of the General Assembly that beginning July 1, 2010, any economic incentive granted to any person, company, partnership, or other entity engaged in the commercial use of raw forest products shall be extended equitably to all users of raw forest products in this state so as to establish and maintain parity within that segment of the economy."

SECTION 3.

All laws and parts of laws in conflict with this Act are repealed.