GA HB1261

Expands Georgia's Level 1 freeport exemption to include electric utility inventory such as motors, turbines, boilers, regulators, steel, concrete, poles, transformers, capacitors, circuit breakers, fuses, insulators, switchgear, and other capital equipment held for use in normal business operations

Electric utilities must apply for the exemption by submitting a department-prescribed summary of finished goods and parts destined for incorporation into electric generation, distribution, or transmission infrastructure through construction, improvement, repair, or maintenance

County or municipal governing authorities may grant the exemption subject to voter approval via referendum, consistent with existing freeport exemption procedures

Equipment already incorporated into operating electric generation, distribution, or transmission facilities remains subject to ad valorem taxation and does not qualify for the exemption

Amends Code Sections 48-5-48.1 and 48-5-48.2 of the Official Code of Georgia Annotated relating to tax exemptions