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GA HB701

Bill

Official Source

Status

Introduced

3/28/2019

Primary Sponsor

James Hatchett

Click for details

Origin

House of Representatives

2019-2020 Regular Session

AI Summary

  • Amends O.C.G.A. § 20-2-164 to exclude freeport property (tangible personal property exempt under Code Section 48-5-48.2) from the equalized adjusted school property tax digest used to calculate the local five mill share of education funding
  • Adds a new paragraph (6) requiring the digest to be reduced by the fair market value of all freeport-exempt tangible personal property multiplied by the tax rate that would otherwise apply
  • Lowering a local school system's equalized adjusted property tax digest effectively reduces the local five mill share obligation, shifting more of the funding burden to the state through QBE (Quality Basic Education) formula equalization
  • Sponsored by Representative Hatchett of the 150th District in the 2019 legislative session (LC 33 7521)

Legislative Description

Education; equalized adjusted school property tax digest for purposes of calculating local five mill share; exclude freeport property

Last Action

House Withdrawn, Recommitted

2/3/2020

Full Bill Text

No bill text available