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GA SB488

Bill

Official Source

Status

Introduced

2/12/2024

Primary Sponsor

Carden Summers

Click for details

Origin

Senate

2023-2024 Regular Session

AI Summary

  • Establishes a statewide exemption from all ad valorem (property) taxes for aircraft used exclusively for aerial application of fertilizers, pesticides, herbicides, fungicides, seeds, or other agricultural products
  • Requires a statewide referendum on November 5, 2024, where voters must approve the exemption by a simple majority for it to take effect
  • Applies to all taxable years beginning on or after January 1, 2025, if approved by voters
  • Requires a two-thirds majority vote in both the Georgia Senate and House of Representatives to pass, per state constitutional requirements for property tax exemptions
  • Automatically repeals on January 1 following the election date if the referendum fails or is not conducted

Legislative Description

Property Tax Exemptions; state-wide exemption from all ad valorem taxes for aircraft used exclusively for the aerial application of fertilizers, pesticides; provide

Last Action

Senate Read and Referred

2/13/2024

Committee Referrals

Finance2/13/2024

Full Bill Text

No bill text available