GA HR1503

Proposes a constitutional amendment to create the Georgia Property Tax Fairness Fund, funded by collections from high-technology data centers and insurance premium taxes, to provide refundable income tax credits to taxpayers in qualifying homes.

Authorizes the General Assembly to expend public funds for the Fund without requiring a benefit in return, with Fund moneys exempt from state debt limitations and not considered state property.

Increases the Homeowner's Incentive Adjustment cap from $18,000 to $150,000 of assessed homestead value, providing significantly greater potential property tax relief.

Authorizes local governments and school systems to appropriate local tax funds for their own homeowners' incentive adjustment programs.

Requires voter ratification of the constitutional amendment before it takes effect.