GA HB1387

Creates a statewide homestead exemption from property taxes funded by excess ad valorem tax revenue collected from data centers above a base year amount (tax year 2027 or the year after the first data center opens, whichever is later)

Excess data center tax collections are segregated and distributed proportionally to all qualifying homestead properties in each jurisdiction to offset their property taxes the following year

Exemption equals zero dollars if data center tax collections fall below the base year amount

Surviving spouses may continue receiving the exemption as long as they occupy the residence as a homestead

Requires two-thirds legislative approval, voter approval via referendum in November 2026, and ratification of a related constitutional amendment to take effect January 1, 2027