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HB 27 - Ad valorem tax; exempt certain personal property

West, Jack (101st)

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First Reader Summary

A BILL to amend Code Section 48-5-42.1 of the Official Code of Georgia Annotated, relating to the personal property tax exemption for property valued at less than $500.00, so as to exempt certain personal property from ad valorem taxation; and for other purposes.

HB 27                                              LC 26 0886 
 
 
 
 
 
 
                        A BILL TO BE ENTITLED 
                               AN ACT 
 
 
  1- 1  To amend Code Section 48-5-42.1 of the Official Code of 
  1- 2  Georgia Annotated, relating to the personal property tax 
  1- 3  exemption for property valued at less than $500.00, so as to 
  1- 4  exempt certain personal property from ad valorem taxation; 
  1- 5  to provide for a special election; to provide for 
  1- 6  applicability; to provide for effective dates; to provide 
  1- 7  for a referendum; to provide for automatic repeal under 
  1- 8  certain circumstances; to repeal conflicting laws; and for 
  1- 9  other purposes. 
 
  1-10       BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA: 
 
  1-11                           SECTION 1. 
 
  1-12  Code Section 48-5-42.1 of the Official Code of Georgia 
  1-13  Annotated, relating to the personal property tax exemption 
  1-14  for property valued at less than $500.00, is amended by 
  1-15  striking subsection (b) in its entirety and inserting in 
  1-16  lieu thereof the following: 
 
  1-17    "(b) All tangible personal property of a taxpayer, except 
  1-18    motor vehicles, trailers, and mobile homes, shall be 
  1-19    exempt from all ad valorem taxation if the actual fair 
  1-20    market value of the total amount of taxable tangible 
  1-21    personal property owned by the taxpayer within the county, 
  1-22    as determined by the board of tax assessors, does not 
  1-23    exceed $500.00." 
 
  1-24                           SECTION 2. 
 
  1-25  Unless prohibited by the federal Voting Rights Act of 1965, 
  1-26  as amended, the Secretary of State shall call and conduct a 
  1-27  special election as provided in this section for the purpose 
  1-28  of submitting this Act to the electors of the State of 
  1-29  Georgia for approval or rejection.  The Secretary of State 
  1-30  shall conduct that special election on the date of the 
  1-31  November, 2000, general election.  The Secretary of State 
  1-32  shall issue the call and conduct that special election as 
  1-33  provided by general law.  The Secretary of State shall cause 
  1-34  the date and purpose of the special election to be published 
 
 
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  2- 1  once a week for two weeks immediately preceding the date 
  2- 2  thereof in the official organ of each county in the state. 
  2- 3  The ballot shall have written or printed thereon the words: 
 
  2- 4    "(  ) YES Shall the Act be approved which exempts 
  2- 5     (  ) NO  personal property from ad valorem taxes?" 
 
  2- 6  All persons desiring to vote for approval of the Act shall 
  2- 7  vote "Yes," and those persons desiring to vote for rejection 
  2- 8  of the Act shall vote "No."  If more than one-half of the 
  2- 9  votes cast on such question are for approval of the Act, 
  2-10  Section 1 of this Act shall become of full force and effect 
  2-11  on January 1, 2001, and shall apply to all taxable years 
  2-12  beginning on or after such date.  If the Act is not so 
  2-13  approved or if the election is not conducted as provided in 
  2-14  this section, Section 1 of this Act shall not become 
  2-15  effective and this Act shall be automatically repealed on 
  2-16  the first day of January immediately following that election 
  2-17  date. 
 
  2-18                           SECTION 3. 
 
  2-19  Except as provided in Section 2 of this Act, this Act shall 
  2-20  become effective upon its approval by the Governor or upon 
  2-21  its becoming law without such approval. 
 
  2-22                           SECTION 4. 
 
  2-23  All laws and parts of laws in conflict with this Act are 
  2-24  repealed. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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