09 LC 35
1273
House
Bill 435
By:
Representative Parsons of the
42nd
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Chapter 25 of Title 50 of the Official Code of Georgia Annotated, relating
to the Georgia Technology Authority, so as to exempt the Georgia Technology
Authority from certain sales and use taxes; to provide for related matters; to
provide an effective date; to repeal conflicting laws; and for other
purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Chapter
25 of Title 50 of the Official Code of Georgia Annotated, relating to the
Georgia Technology Authority, is amended by revising Code Section 50-25-8,
relating to tax exemptions for the Georgia Technology Authority, as
follows:
"50-25-8.
It
is found, determined, and declared that the creation of the authority and the
carrying out of its corporate purposes are in all respects for the benefit of
the people of this state and are public purposes and that the authority will be
performing an essential governmental function in the exercise of the powers
conferred upon it by this chapter. The authority shall be required to pay no
taxes or assessments upon any property acquired or under its jurisdiction,
control, possession, or supervision.
The tax
exemption provided for in this Code section shall include an exemption from all
sales and use tax on property purchased or used by the
authority."
SECTION
2.
This
Act shall become effective upon its approval by the Governor or upon its
becoming law without such approval.
SECTION
3.
All
laws and parts of laws in conflict with this Act are repealed.