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GA HB658
Bill
Status
Passed
5/3/2018
Primary Sponsor
Earl Ehrhart
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AI Summary
- Extends the termination date for an 8% excise tax on rooms, lodgings, and accommodations from December 31, 2028 to December 31, 2053, for counties and municipalities where a coliseum and exhibit hall authority was created by local Act and existed on or before January 1, 1991
- Requires that at least 62.5% of total taxes collected at the 8% rate be spent on promoting tourism, conventions, and trade shows, or on funding facilities such as coliseums, exhibit halls, conference centers, and performing arts centers
- Mandates that at least 50% of total taxes collected at the 8% rate be spent specifically on acquiring, constructing, renovating, improving, and equipping buildings and facilities
- Caps the aggregate of all excise taxes, sales and use taxes, and other taxes imposed by a county or municipality at 13%, excluding sales taxes for educational purposes
- Protects holders of outstanding obligations by prohibiting counties or municipalities from ceasing to levy the tax in any manner that would impair the interests and rights of bondholders during the period any obligation secured by the tax remains outstanding
Legislative Description
Excise tax; rooms, lodgings, and accommodations; remove sunset date for the time during which a certain tax may be collected
Last Action
Effective Date
7/1/2018
Full Bill Text
No bill text available