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04 LC 25 3586
House Bill
1639
By: Representative Smith of the 76th
By: Representative Smith of the 76th
A BILL TO BE
ENTITLED
AN ACT
AN ACT
To amend Chapter 44 of Title 36 of the Official Code of
Georgia Annotated, relating to redevelopment powers, so as to change certain
provisions relating to creation of tax allocation districts; to provide an
effective date; to repeal conflicting laws; and for other
purposes.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF
GEORGIA:
SECTION 1.
Chapter 44 of Title 36 of the Official Code of Georgia
Annotated, relating to redevelopment powers, is amended by striking Code Section
36-44-8, relating to creation of tax allocation districts, and inserting in lieu
thereof the
following:
"36-44-8.
In order to create and carry out the purposes of a tax allocation district, the following steps are required:
(1) Preparation by the redevelopment agency of a redevelopment plan for the proposed tax allocation district and its submission for consent to the political subdivision or board of education required to consent, if the plan proposes to include in the tax allocation increment ad valorem taxes levied by a political subdivision or board of education required to consent to such inclusion under Code Section 36-44-9, or if the plan proposes to pledge for payment or security for payment of tax allocation bonds and other redevelopment costs the general funds of a county required to consent to such inclusion under Code Section 36-44-9;
(2) Submission of the redevelopment plan, along with a certified copy of any resolution giving the consent required under paragraph (1) of this Code section, to the local legislative body of the political subdivision whose area of operation will include the tax allocation district; and
(3) Adoption by the local legislative body of a resolution approving the redevelopment plan and which:
(A) Describes the boundaries of the tax allocation district with sufficient definiteness to identify with ordinary and reasonable certainty the territory included. The boundaries shall include only those whole units of property assessed for ad valorem property tax purposes;
(B) Creates the district on December 31 following the adoption of the resolution or on December 31 of a subsequent year as determined by the local legislative body;
(C) Assigns a name to the district for identification purposes. The first district created shall be known as 'Tax Allocation District Number 1,' followed by the name of the political subdivision within whose area of operation the district is located;
(D) Specifies the estimated tax allocation increment base;
(E) Specifies property taxes to be used for computing tax allocation increments;
(F) Specifies the property proposed to be pledged for payment or security for payment of tax allocation bonds which property may include positive tax allocation increments derived from the tax allocation district, all or part of general funds derived from the tax allocation district, and any other property from which bonds may be paid under Code Section 36-44-14, as determined by the political subdivision subject to the limitations of Code Sections 36-44-9 and 36-44-20; and
(G) Contains findings that:
(i) The redevelopment
area on the whole has not been subject to growth and development through private
enterprise and would not reasonably be anticipated to be developed without the
approval of the redevelopment plan or includes one or more natural or historical
assets which have not been adequately preserved or protected and such asset or
assets would not reasonably be anticipated to be adequately preserved or
protected without the approval of the redevelopment plan;
and
(ii) The the
improvement of the area is likely to enhance the value of a substantial portion
of the other real property in the district.
If any information required to be included in the resolution approving the redevelopment plan under subparagraphs (A) through (G) of this paragraph is contained in the redevelopment plan, then the resolution approving the redevelopment plan may incorporate by reference that portion of the redevelopment plan containing said information."
"36-44-8.
In order to create and carry out the purposes of a tax allocation district, the following steps are required:
(1) Preparation by the redevelopment agency of a redevelopment plan for the proposed tax allocation district and its submission for consent to the political subdivision or board of education required to consent, if the plan proposes to include in the tax allocation increment ad valorem taxes levied by a political subdivision or board of education required to consent to such inclusion under Code Section 36-44-9, or if the plan proposes to pledge for payment or security for payment of tax allocation bonds and other redevelopment costs the general funds of a county required to consent to such inclusion under Code Section 36-44-9;
(2) Submission of the redevelopment plan, along with a certified copy of any resolution giving the consent required under paragraph (1) of this Code section, to the local legislative body of the political subdivision whose area of operation will include the tax allocation district; and
(3) Adoption by the local legislative body of a resolution approving the redevelopment plan and which:
(A) Describes the boundaries of the tax allocation district with sufficient definiteness to identify with ordinary and reasonable certainty the territory included. The boundaries shall include only those whole units of property assessed for ad valorem property tax purposes;
(B) Creates the district on December 31 following the adoption of the resolution or on December 31 of a subsequent year as determined by the local legislative body;
(C) Assigns a name to the district for identification purposes. The first district created shall be known as 'Tax Allocation District Number 1,' followed by the name of the political subdivision within whose area of operation the district is located;
(D) Specifies the estimated tax allocation increment base;
(E) Specifies property taxes to be used for computing tax allocation increments;
(F) Specifies the property proposed to be pledged for payment or security for payment of tax allocation bonds which property may include positive tax allocation increments derived from the tax allocation district, all or part of general funds derived from the tax allocation district, and any other property from which bonds may be paid under Code Section 36-44-14, as determined by the political subdivision subject to the limitations of Code Sections 36-44-9 and 36-44-20; and
(G) Contains findings that
If any information required to be included in the resolution approving the redevelopment plan under subparagraphs (A) through (G) of this paragraph is contained in the redevelopment plan, then the resolution approving the redevelopment plan may incorporate by reference that portion of the redevelopment plan containing said information."
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.