08 LC 18
7374S
House
Bill 1079 (COMMITTEE SUBSTITUTE)
By:
Representative O`Neal of the
146th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 48-7-40.15 of the Official Code of Georgia Annotated,
relating to alternative tax credits for base year port traffic, so as to change
certain definitions and provide a different method of calculating port traffic;
to provide for an effective date; to provide for applicability; to repeal
conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Code
Section 48-7-40.15 of the Official Code of Georgia Annotated, relating to
alternative tax credits for base year port traffic, is amended by revising
paragraphs (1) and (4) of subsection (a) as follows:
"(1)
'Base year port traffic' means the total amount of net tons, containers, or
twenty-foot equivalent units
(TEU´s),
of product actually
transported
imported into
this state or exported out of this state
by way of a waterborne ship or vehicle through a port facility during the period
from January 1, 1997, through December 31, 1997; provided, however, that in the
event the total amount actually
transported
imported into
this state or exported out of this state
during such period was not at least 75 net tons, five containers, or ten
twenty-foot equivalent units (TEU´s), then 'base year port traffic' means
75 net tons, five containers, or ten twenty-foot equivalent units
(TEU´s)."
"(4)
'Port traffic' means the total amount of net tons, containers, or twenty-foot
equivalent units (TEU´s) of product
transported
imported into
this state or exported out of this state
by way of a waterborne ship or vehicle through a port
facility."
SECTION
2.
This
Act shall become effective upon its approval by the Governor or upon its
becoming law without such approval and shall be applicable to all taxable years
beginning on or after January 1, 2008, and no taxpayer shall be entitled to file
any amended return or claim any additional credit amount for any taxable year
prior to January 1, 2008, based upon the provisions of this Act.
SECTION
3.
All
laws and parts of laws in conflict with this Act are repealed.