Loading chat...

GA HB808

Bill

Official Source

Status

Passed

5/6/2024

Primary Sponsor

Mike Cheokas

Click for details

Origin

House of Representatives

2023-2024 Regular Session

AI Summary

  • Increases the statewide ad valorem tax exemption for tangible personal property from $7,500.00 to $20,000.00 in fair market value, as determined by the county board of tax assessors
  • Exemption applies to all tangible personal property except motor vehicles, trailers, and mobile homes
  • Requires a two-thirds majority vote in both the Georgia Senate and House of Representatives to pass, per state constitutional requirements
  • Requires approval by statewide voter referendum on November 5, 2024; if approved, the increased exemption takes effect January 1, 2025
  • Automatically repeals on January 1 following the election date if the referendum fails or is not conducted

Legislative Description

Ad valorem tax; increase a statewide exemption for tangible personal property

Last Action

Effective Date 2024-05-06

5/6/2024

Committee Referrals

Finance2/27/2024
Ways and Means3/23/2023

Full Bill Text

No bill text available