Loading chat...
GA SB517
Bill
Status
Engrossed
3/26/2010
Primary Sponsor
Bill Cowsert
Click for details
AI Summary
- Revises Georgia's state ad valorem tax levy process so that once the state revenue shortfall reserve exceeds $500 million, the Governor may only levy the state ad valorem tax for the purpose of defending the state during a declared state of emergency
- Until the $500 million revenue shortfall reserve threshold is met, the existing process continues: the Governor, assisted by the tax commissioner, makes the annual state levy once taxable property values are substantially known
- Preserves a state millage rate of one-fourth mill per dollar of assessed value solely for purposes of calculating the state's share of intangible tax revenue distributions to local jurisdictions
- Tax, penalty, interest liabilities, and refund eligibility for prior taxable years remain unaffected and continue to be governed by prior law
- Takes effect immediately upon the Governor's approval or upon becoming law without such approval
Legislative Description
Ad Valorem Taxes; manner and time of making the state ad valorem tax levy; revise and change provisions
Last Action
House Second Readers
3/31/2010
Committee Referrals
Ways and Means3/30/2010
Finance3/18/2010
Full Bill Text
No bill text available