GA HR1392

Proposes amending the Georgia Constitution to allow qualified low-income housing projects (as defined in 26 U.S.C. Section 42(g)(1)) to be classified as a separate class of property for ad valorem property tax purposes.

Authorizes the General Assembly to establish different tax rates, assessment methods, and assessment dates specifically for these low-income housing properties.

Adds low-income housing projects to the existing list of property types eligible for separate classification, which currently includes trailers, mobile homes, and heavy-duty equipment motor vehicles owned by nonresidents.

Requires the proposed constitutional amendment to be submitted to Georgia voters for ratification or rejection at a future election.