09 LC
25 5386
House
Bill 170
By:
Representatives Lane of the
167th
and Barnard of the
166th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 12-5-287 of the Official Code of Georgia Annotated, relating
to leasing of state owned marshland or water bottoms, so as to change the amount
of annual rental fees from fair market value to a fixed rate; to provide for
annual fee adjustments; to provide 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 12-5-287 of the Official Code of Georgia Annotated, relating to leasing
of state owned marshland or water bottoms, is amended by revising subsection (d)
as follows:
"(d)
Each lease granted under this Code section shall be upon such provisions,
requirements, and conditions as the committee shall make and shall, except as
provided in subsections (g) and (h) of this Code section, provide for a primary
term of not more than ten years. Each lease, except as provided in subsections
(g) and (h) of this Code section, shall require the payment of an annual rental
fee set by
the committee which shall be
not less
than the fair market rental value of the state owned marshland or water bottoms
leased thereby and
$1,000.00 per
acre as of the effective date of this subsection; and the committee shall in
each calendar year thereafter adjust the amount of the annual rental fee per
acre to reflect the effect of annual inflation or deflation for the immediately
preceding calendar year in accordance with rules and regulations adopted by the
board, which rules and regulations may use for this purpose the Consumer Price
Index as reported by the Bureau of Labor Statistics of the United States
Department of Labor or any other similar index established by the federal
government, if the board determines that such federal index reflects the effect
of inflation and deflation on the lessees. Each
lease may provide for two renewal terms,
each of which shall not be for a term of more than equal duration to the primary
term. Rental fees shall be paid in one installment to the department not later
than July 15 of each year. A penalty of 10 percent of the annual rental shall
be assessed for late payment. Failure to pay rental by August 1 of the year due
shall result in the cancellation of the lease."
SECTION
2.
This
Act shall become effective upon its approval by the Governor or upon its
becoming law without such approval; provided, however, that this Act shall not
be applied to impair an obligation of contract entered into prior to such
effective date.
SECTION
3.
All
laws and parts of laws in conflict with this Act are repealed.