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SR 158 - State Ad Valorem Tax - eliminate on cert. tangible property (CA)

Price, Richard J (28th)

Status Summary	SC:	F&PU	HC:		FR:	02/17/99	LA:	02/17/99	S - Read 1st time

First Reader Summary

A resolution proposing an amendment to the Constitution so as to eliminate the annual levy of state ad valorem taxes on certain tangible property except for the purpose of defending the state in an emergency; to provide for the submission of this amendment for ratification or rejection.

SR 158 99                                          LC 18 9090 
 
      SENATE RESOLUTION 158 
 
      By:  Senator Price of the 28th 
 
 
                             A RESOLUTION 
 
  1- 1  Proposing an amendment to the Constitution so as to 
  1- 2  eliminate the annual levy of state ad valorem taxes on 
  1- 3  certain tangible property except for the purpose of 
  1- 4  defending the state in an emergency; to provide for the 
  1- 5  submission of this amendment for ratification or rejection; 
  1- 6  and for other purposes. 
 
  1- 7       BE IT RESOLVED BY THE GENERAL ASSEMBLY OF GEORGIA: 
 
  1- 8                           SECTION 1. 
 
  1- 9  Article VII, Section I is amended by striking Paragraph II 
  1-10  and inserting in its place a new Paragraph II to read as 
  1-11  follows: 
 
  1-12      "Paragraph II. Taxing power limited. (a)  The There 
  1-13    shall be no annual levy of state ad valorem taxes on 
  1-14    tangible property for all purposes any purpose, except for 
  1-15    defending the state in an emergency, shall not exceed 
  1-16    one-fourth mill on each dollar of the assessed value of 
  1-17    the property.  
 
  1-18      (b) So long as the method of taxation in effect on 
  1-19    December 31, 1980, for the taxation of shares of stock of 
  1-20    banking corporations and other monied capital coming into 
  1-21    competition with such banking corporations continues in 
  1-22    effect, such shares and other monied capital may be taxed 
  1-23    at an annual rate not exceeding five mills on each dollar 
  1-24    of the assessed value of the property." 
 
  1-25                           SECTION 2. 
 
  1-26  The above proposed amendment to the Constitution shall be 
  1-27  published and submitted as provided in Article X, Section I, 
  1-28  Paragraph II of the Constitution. 
 
  1-29  The ballot submitting the above proposed amendment shall 
  1-30  have written or printed thereon the following: 
 
  1-31    "(  ) YES Shall the Constitution be amended so as to 
  1-32              eliminate the annual levy of state ad valorem 
  1-33     (  ) NO  taxes on tangible property except for the 
  1-34              purpose of defending the state in an 
 
 
 
                                 -1- 
 
 
 
  2- 1              emergency?" 
 
  2- 2  All persons desiring to vote in favor of ratifying the 
  2- 3  proposed amendment shall vote "Yes."  All persons desiring 
  2- 4  to vote against ratifying the proposed amendment shall vote 
  2- 5  "No." 
 
  2- 6  If such amendment shall be ratified as provided in said 
  2- 7  Paragraph of the Constitution, it shall become a part of the 
  2- 8  Constitution of this state. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                 -2-