GA HR1000

Proposes a constitutional amendment to reduce the ad valorem tax assessment rate to zero percent for standing timber harvested or sold from property receiving preferential conservation treatment

Requires property owners to enter into a covenant to continue the property in a qualifying use to receive the tax benefit

Breaching the covenant within 10 years of harvest or sale triggers recapture of tax savings and potential additional penalties

Mandates the General Assembly to annually appropriate 100 percent of the revenue reduction to each county, municipality, or school district affected by the tax elimination

Submits the amendment to voters for ratification, with stated purpose of encouraging timberland conservation