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GA SB513
Bill
Status
Introduced
3/17/2010
Primary Sponsor
Johnny Grant
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AI Summary
- Amends Georgia Code Section 48-5-41 to allow charitable institutions exempt from ad valorem (property) taxation to rent or lease their buildings to third parties for a fee without losing their tax-exempt status, provided specific conditions are met
- Third-party renters of the exempt property must not use it to generate income, except income directed to the charitable institution itself, another purely public charity, or another entity that would qualify for the exemption
- All rental income must be used exclusively for the owning charitable institution, another purely public charity, another exemption-eligible entity, or to defray the actual costs of using the building to generate such income
- The exemption applies only to buildings owned by 501(c)(3) charitable institutions used exclusively for charitable purposes, along with not more than 15 acres of land on which the building is located
- Requires approval through a statewide referendum held during the November 2010 general election; if approved by more than half of voters, the changes take effect January 1, 2011, and if not approved, the Act is automatically repealed
Legislative Description
Ad Valorem Tax; provide conditions; charitable institutions receiving exemption; rent for a fee without invalidating such exemption
Last Action
Senate Read and Referred
3/17/2010
Committee Referrals
Finance3/17/2010
Full Bill Text
No bill text available