GA HB1251

Creates the "Georgia Tourism Development Act," establishing a sales and use tax refund program for companies that build new tourism attractions in the state, effective July 1, 2010

Eligible new tourism attractions include cultural/historical sites, sports stadiums, convention hotels, auto race tracks, golf courses, marinas, water parks, and entertainment destination centers — but exclude shopping centers, restaurants, and movie theaters

Projects must have approved costs exceeding $100 million, operate at least 200 days per year, demonstrate a positive economic impact on the state, and not adversely affect existing employment

The tax refund runs for a 10-year agreement term and is capped at 25% of approved project costs, accruing annually at up to 2.5% of approved costs, with unused refunds eligible for carry-forward to succeeding years

Applications require approval from both the Commissioner of Economic Development and the local governing authority (city or county), and must include marketing plans targeting out-of-state visitors, capital expenditure details, employment projections, and anticipated revenues