09 AM 38
0084
ADOPTED
SENATE AMENDMENT # 1 TO HB 261:
SENATE AMENDMENT # 1 TO HB 261:
Amend
HB 261 (18 8169S) by inserting after
"residence"
on line 14 the
following:
, a residence occupied at the time of sale,
, a residence occupied at the time of sale,
By
striking
"or"
on line
21
By
striking
"."
on line 23 and
inserting in lieu thereof
";
or"
By
inserting between lines 23 and 24 the following:
(C)
A condominium unit, as defined in Code Section 44-3-71, that is occupied for
residential purposes by a single family and that is a new condominium unit, a
condominium unit occupied at the time of sale, or a previously occupied
condominium unit that was for sale prior to the effective date of this Code
section and is still for sale after the effective date of this Code
section.
By
striking lines 35 through 40 and inserting in lieu thereof the
following:
(d)(1)
A taxpayer shall submit to the commissioner:
(A)
A bona fide listing agreement with a real estate agent or broker licensed in
this state or documentation that the eligible single-family residence was for
sale directly by the owner without a real estate agent or broker;
and
(B)
A copy of a deed conveying the single-family residence to the taxpayer after it
was recorded in the deed records in the office of the clerk of superior court in
which the eligible single-family residence is situated and a copy of a properly
executed HUD-1 settlement statement or other closing statement which shows all
financial terms of the transaction including the exact amount the buyer paid at
closing
or
other appropriate documentation deemed sufficient by the commissioner to
validate the eligiblity of the single-family residence for purposes of the tax
credit under this Code section.