07 LC
14 9565
House
Bill 328
By:
Representatives Bruce of the
64th,
Willard of the
49th,
Fludd of the
66th,
Jones of the
46th,
Mosby of the
90th,
and others
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 48-5-48.2 of the Official Code of Georgia Annotated, relating
to the authority of local governments to provide a freeport exemption from ad
valorem taxation for certain inventories of finished goods and goods in the
process of manufacture, so as to provide that under certain circumstances, when
a new municipal corporation is chartered by local Act, the voters of the new
municipal corporation shall determine whether to authorize a freeport exemption;
to provide for implementation of the exemption if authorized; to provide for
related matters; to amend Chapter 31 of Title 36 of the Official Code of Georgia
Annotated, relating to incorporation of new cities, so as to provide for a
conforming reference; to provide for an effective date and applicability; to
repeal conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Code
Section 48-5-48.2 of the Official Code of Georgia Annotated, relating to the
authority of local governments to provide a freeport exemption from ad valorem
taxation for certain inventories of finished goods and goods in the process of
manufacture, is amended by adding a new subsection (c.1) to read as
follows:
"(c.1)(1)
This subsection (c.1) shall apply when:
(A)
A local Act is passed by the General Assembly to incorporate a new municipal
corporation;
(B)
The new municipal corporation is located in a county which grants one or more
exemptions under this Code section; and
(C)
The creation or functioning of the new municipal corporation is, pursuant to the
local Act, contingent upon approval by the voters of the new municipal
corporation.
(2)
At the same referendum election at which the creation or functioning of the new
municipal corporation is submitted to the voters, there shall also be submitted
to the voters the question of whether to authorize the governing authority of
the new municipal corporation to grant one or more exemptions under this Code
section. The referendum ballot shall specify as separate questions the type or
types of property with respect to which the county grants
exemptions.
(3)
If more than one-half of the votes cast on such question are in favor of such
exemption, then such exemption may be granted by the municipal governing
authority when it comes into existence. Notwithstanding the provisions of
subsection (e) of this Code section, when an exemption is authorized to be
granted under this subsection (c.1), the municipal governing authority may make
the exemption effective as of January 1 of the year in which the governing
authority acts or any future year."
SECTION
2.
Chapter
31 of Title 36 of the Official Code of Georgia Annotated, relating to
incorporation of new cities, is amended by adding a new Code section to read as
follows:
"36-31-13.
When
a municipal corporation is created by local Act as authorized in this chapter
and the creation or functioning of the new municipal corporation is contingent
upon referendum approval, there shall at the same referendum election be
submitted to the voters the authorization of a freeport exemption, if such
submission is required under subsection (c.1) of Code Section
48-5-48.2."
SECTION
3.
This
Act shall become effective upon its approval by the Governor or upon its
becoming law without such approval and shall apply with respect to any
incorporation submitted to the voters more than 30 days after said effective
date.
SECTION
4.
All
laws and parts of laws in conflict with this Act are repealed.