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GA HB1486
Bill
Status
Introduced
3/1/2022
Primary Sponsor
Dominic Lariccia
Click for details
AI Summary
- Extends the state sales and use tax exemption for tangible personal property used in the renovation or expansion of qualifying aquariums from the previous period (July 1, 2018–January 1, 2022) to a new period of July 1, 2022, through June 30, 2026
- Caps the total aggregate state sales and use tax refunded under this exemption at $4.5 million, with the exemption ending early if that threshold is reached before June 30, 2026
- Applies to aquariums located in Georgia that charge admission and are owned or operated by 501(c)(3) tax-exempt organizations
- Eliminates the previously existing local sales and use tax exemption component, limiting the renewed exemption to state sales and use tax only
- Requires qualifying aquariums to pay sales tax at the time of purchase and then file a claim for refund; refunds do not include interest
Legislative Description
Sales and use tax; sales of tangible personal property used for or in the renovation or expansion of certain aquariums; exempt
Last Action
House Second Readers
3/4/2022
Committee Referrals
Ways and Means3/3/2022
Full Bill Text
No bill text available