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GA HB195
Bill
Status
Engrossed
2/15/2017
Primary Sponsor
Brett Harrell
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AI Summary
- Amends Georgia Code Section 48-5-41 to allow buildings owned by nonprofit charitable institutions qualified as purely public charities and exempt under IRS Section 501(c)(3) to be used for the primary or incidental purpose of securing income while retaining their ad valorem property tax exemption, provided the income is used exclusively for the operation of that charitable institution
- Limits the land eligible for exemption to not more than 15 acres on which the qualifying building is located
- Changes the prior requirement that buildings be used "exclusively" for charitable purposes to instead require use "for the charitable purposes" of the institution, broadening the permitted uses
- Requires a statewide referendum on the Tuesday following the first Monday in November 2018, with the substantive provisions taking effect January 1, 2019, only if approved by more than one-half of votes cast; the Act is automatically repealed on January 1 following the election if not approved
- Requires a two-thirds majority vote in both the Georgia Senate and House of Representatives to comply with Article VII, Section II, Paragraph II(a)(1) of the Georgia Constitution regarding property tax exemptions
Legislative Description
Taxation; certain for profit corporations to participate in the indirect ownership of a home for the mentally disabled for primarily financing purposes; allow
Last Action
Senate Passed/Adopted By Substitute
3/29/2018
Full Bill Text
No bill text available