07 LC 18
6449S
The
Senate Finance Committee offered the following substitute to HB
148:
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 48-8-3 of the Official Code of Georgia Annotated, relating to
exemptions from sales and use taxes, so as to provide for a limited duration
exemption with respect to state sales and use tax only for the sale of natural
or artificial gas, electricity, or any other energy used directly or indirectly
in the manufacture or processing of tangible personal property; to provide for a
sales and use tax exemption with respect to the sale of tangible property to or
used in construction or expansion of an aquarium in this state for a limited
period of time; to provide an effective date; to repeal conflicting laws; and
for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Code
Section 48-8-3 of the Official Code of Georgia Annotated, relating to exemptions
from sales and use taxes, is amended by adding a new paragraph to read as
follows:
"(70.1)(A)
For the period beginning on January 1, 2008, and ending on December 31, 2008,
the sale of natural or artificial gas, electricity, or any other energy used
directly or indirectly in the production or processing of tangible personal
property at the rate of 25 percent of such total sale or use.
(B)
For the purposes of this paragraph, the term 'local sales and use tax' shall
mean any sales tax, use tax, or local sales and use tax which is levied and
imposed in an area consisting of less than the entire state, however authorized,
including, but not limited to, such taxes authorized by or pursuant to
constitutional amendment; by or pursuant to Section 25 of an Act approved March
10, 1965 (Ga. L. 1965, p. 2243), as amended, the 'Metropolitan Atlanta Rapid
Transit Authority Act of 1965'; by or pursuant to Article 2, 2A, 3, or 4 of this
chapter.
(C)
The exemption provided for in subparagraph (A) of this paragraph shall not apply
to any local sales and use tax levied or imposed at any time.
(D)
The commissioner shall adopt rules and regulations to carry out the provisions
of this paragraph;".
SECTION
2.
Said
Code section is further amended by revising paragraph (76) as
follows:
"(76)
Notwithstanding any provision of Code Section 48-8-63 to the contrary, from
the
effective date of this paragraph
June 4,
2003, until January 1,
2007
2011,
sales of tangible personal property to, or used in the construction
or
expansion of, an aquarium
in this
state owned or operated by an organization
which is exempt from taxation under Section 501(c)(3) of the Internal Revenue
Code;"
SECTION
3.
This
Act shall become effective upon its approval by the Governor or upon its
becoming law without such approval.
SECTION
4.
All
laws and parts of laws in conflict with this Act are repealed.