GA HB1618

Authorizes cities, counties, and consolidated governments to establish corporate-community investment zones in qualified areas — defined as areas within or adjacent to census block groups with a poverty rate of 15% or greater that are also in a state enterprise zone or redevelopment area and display pervasive poverty, underdevelopment, and blight

Land subject to a corporate-community investment zone contract receives a reduced property tax assessment at 85% of fair market value, with assessors required to consider enforceable use restrictions (zoning, environmental constraints, easements, etc.) when determining value

Contracts must have a minimum 5-year term and require landowners to: conduct business on the property, reserve at least one acre for public communal space with community events every six months, ensure at least 50% of construction labor hours are performed by local residents, provide an apprenticeship program, maintain a childcare facility for employees, and implement a commuter benefits program

Early cancellation of a contract triggers a mandatory fee equal to the cumulative value of the tax benefit received over the contract's duration, unless the local government determines extenuating circumstances existed despite the landowner's good faith effort

Effective date is contingent on voter ratification of a constitutional amendment authorizing community investment zones at the November 2022 statewide general election; if not ratified, the Act would stand repealed on December 31, 2022