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GA SB353
Bill
Status
Engrossed
3/3/2014
Primary Sponsor
Brandon Beach
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AI Summary
- Removes hotel and motel facilities from the definition of "project" under Georgia's development authority law, eliminating them as eligible projects that development authorities can undertake
- Removes the prior exception that subjected properties leased for certain project purposes (subparagraphs J and K) to state and local ad valorem taxation, thereby expanding the tax exemption for development authority properties
- Clarifies that development authorities may use bond and bond anticipation note proceeds, "if any," for paying project costs, refunding prior bonds, and carrying out other authorized purposes
- Adds new revenue bond validation procedures, including provisions that the district attorney or Attorney General need not appear at validation hearings (with the authority bearing the burden of proof in their absence), and that validation judgments become forever conclusive if not timely appealed
- Retains sports facilities (including private training facilities), convention/trade show facilities, airports, utilities, water facilities, and amphitheaters with seating exceeding 1,000 patrons as eligible development authority projects
Legislative Description
Development Authorities; change a definition; revision of public purpose; changes to general powers
Last Action
House Withdrawn, Recommitted
3/10/2014
Full Bill Text
No bill text available