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GA HB1522
Bill
Status
Introduced
4/29/2010
Primary Sponsor
Cecily Hill
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AI Summary
- Creates the "Georgia Tourism and Community Development Act for Natural and Cultural Resources," establishing a tax refund program for companies developing new tourism attractions with costs exceeding $75 million, located near interstate highways, state parks, navigable waterways, national wildlife refuges, or national parks in Georgia
- Requires the state revenue commissioner to refund incremental sales and use taxes (excluding local education taxes) generated by approved tourism attractions back to the host county or municipality for a 20-year term, with funds deposited into a dedicated tourism attraction account to pay development costs
- Authorizes municipalities to impose an additional municipal tourism attraction tax of up to 3 percent on sales within the tourism attraction boundaries by resolution or ordinance, without requiring a referendum, plus a separate 1 percent tourism project tax for capital outlay projects that does require voter approval
- Creates a special tax district within every municipality containing an approved tourism attraction, limits local taxes within the district to the incremental sales and use tax, the municipal tourism attraction tax, the tourism project tax, and a 1 percent local education tax, and requires annual audits of all expenditures
- Amends the Revenue Bond Law to include natural and cultural tourism development as an eligible undertaking and to recognize tax refunds to municipalities under this program as qualifying "revenue" for revenue bond purposes, and requires companies to apply for approval within six months of the act's effective date
Legislative Description
Georgia Tourism and Community Development Act for Natural and Cultural Resources; enact
Last Action
House First Readers
4/29/2010
Committee Referrals
State Planning and Community Affairs4/29/2010
Full Bill Text
No bill text available