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GA HB1105

Bill

Official Source

Status

Passed

5/27/2010

Primary Sponsor

Mickey Channell

Click for details

Origin

House of Representatives

2009-2010 Regular Session

AI Summary

  • Extends the ad valorem tax exemption for watercraft held in dealer inventory for sale or resale from December 31, 2010, to December 31, 2013
  • Defines "dealer" as any person engaged in the business of selling watercraft at retail, and "watercraft" as any self-propelled or capable of self-propelled water transportation vehicle
  • Classifies dealer-inventory watercraft as a separate category of tangible property for ad valorem taxation purposes, exempt from standard return, taxation, and collection procedures
  • Watercraft becomes subject to taxation only after it is transferred from the dealer to a buyer
  • Effective date of January 1, 2011

Legislative Description

Watercraft held in inventory; exempt from taxation; provide

Last Action

Effective Date

1/1/2011

Committee Referrals

Finance3/26/2010
Ways and Means2/5/2010

Full Bill Text

No bill text available