HB123.html

House Bill 123
By: Representatives Day of the 126^th, Stephens of the 123^rd, Keen of the 146^th and DeLoach of the 127^th

To amend Code Section 48_5_41 of the Official Code of Georgia Annotated, relating to property exempted from ad valorem taxation, so as to exempt from taxation up to $75,000.00 of the assessed value of recreational boats; to provide for a referendum, applicability, and effective dates; to repeal conflicting laws; and for other purposes.

Code Section 48_5_41 of the Official Code of Georgia Annotated, relating to property exempted from ad valorem taxation, is amended by striking "and" at the end of paragraph (14) of subsection (a) thereof, striking the period and inserting "; and" at the end of paragraph (15) of said subsection, and adding immediately thereafter the following:
"(16) Up to $75,000.00 of the assessed value of boats whose exclusive use is for recreational purposes."

Unless prohibited by the federal Voting Rights Act of 1965, as amended, the Secretary of State shall call and conduct a special election for the approval or disapproval of this Act on the date of the November, 2004, general election. The Secretary of State shall cause the date and purpose of the special election to be published in the official organ of each county in the state once a week for two weeks immediately preceding the date of the referendum. The ballot shall have written thereon the following:

"( ) YES

( ) NO

Shall the Act be approved which grants an exemption from ad valorem taxation of up to $75,000.00 of the assessed value of recreational boats?"

All persons desiring to vote for approval of the Act shall vote "Yes," and those persons desiring to vote for rejection of the Act shall vote "No." If more than one_half of the votes cast on such question are for approval of the Act, then Section 1 of this Act shall become effective on January 1, 2005, and shall apply to all tax years beginning on or after that date; otherwise Section 1 of this Act shall be void and this Act shall stand repealed in its entirety on January 1, 2005.

Except as otherwise provided in Section 2 of this Act, this Act shall become effective upon its approval by the Governor or upon its becoming law without such approval.