HB 79 — Tift County; ad valorem tax; provide homestead exemption

Summary

A BILL to be entitled an Act to provide a homestead exemption from Tift County ad valorem taxes in the amount of the assessed value of the homestead property determined annually for the special district based upon the proceeds of a new Local Homestead Option Sales Tax (LHOST) to be imposed within the special district conterminous with Tift County; to provide for definitions; to specify the terms and conditions of the exemption and the procedures relating thereto; to provide for applicability; to provide for compliance with constitutional requirements and the provisions of Article 2C of Chapter 8 of Title 48 of the O.C.G.A.; to provide for a referendum, effective dates, automatic repeal, mandatory execution of election, and judicial remedies regarding failure to comply; to provide for related matters; to repeal conflicting laws; and for other purposes.

Bill Text

• Latest version View text Current pdf
• LC 47 4401/a View text pdf
• Local Ad View text Current pdf

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This bill amends 1 section(s) of the Official Code of Georgia Annotated: O.C.G.A. § 48-7-20.

• O.C.G.A. § 48-7-20

  6 LC 44 3562S "48-7-29.11A. (a) As used in this Code section, the term: (1) 'Eligible expenses' means expenses incurred by an individual taxpayer during the taxable year for the cost of a firearm safe handling instructional course. (2) 'Firearm' means any handgun, shotgun, rifle, or other weapon that will be converted or is designed to or may readily be converted to expel single or multiple projectiles by action of an explosion of a combustible material. (3) 'Firearm safe handling instructional course' means an in-person training of at least two hours in duration that includes, but is not limited to, instruction on safe handling, use, and storage of firearms. (b)(1) Under the terms and conditions of this Code section, an individual taxpayer shall be allowed a credit against the tax imposed by Code Section 48-7-20 in the amount of such taxpayer's eligible expenses or $300.00, whichever is less. (2) In no event shall the aggregate limit of tax credits allowed under this Code section for any year exceed $10 million. (c)(1) The department shall develop a procedure to be followed in the preapproval of any tax credit allowed pursuant to this Code section. (2) An individual taxpayer seeking a tax credit pursuant to this Code section shall apply to the department for preapproval of such tax credit. Such taxpayer shall specify the taxable year for which he or she is seeking a tax credit. (3) Individual taxpayers that properly apply for preapproval of such tax credit following the procedure developed by the department shall be approved on a first-come, first served basis until the aggregate limit for such tax credits is reached for that year. (4) The department shall preapprove tax credits for each preapproval application within 30 days and in the received order of submitted applications. Such preapproved tax credits shall be in the amount of $300.00 for each preapproval application. 6 LC 44 3562S (5) In the event that an individual taxpayer applies for preapproval and the amount of tax credits available for the taxable year are not sufficient to fully fund the tax credits requested, the department shall deny such taxpayer's request and shall not accept any additional preapproval applications from taxpayers for the taxable year. (d) For a tax credit allowed pursuant to this Code section, an individual taxpayer shall maintain receipts for purchases or costs relative to the eligible expenses for three years following the submission of the taxpayer's tax return claiming such tax credit. Such receipts shall be made available upon request for review by the commissioner. (e) In no event shall the total amount of any tax credit under this Code section for a taxable year exceed the taxpayer's income tax liability. No unused tax credit shall be allowed to be carried forward to apply to the taxpayer's succeeding years' tax liability. No such tax credit shall be allowed the taxpayer against prior years' tax liability. (f) No person shall create any list of names regarding persons who have applied for or have been allowed a tax credit pursuant to this Code section except for purposes necessary to the administration of such credit. (g) The commissioner shall promulgate such rules and regulations as may be necessary for the implementation and administration of the provisions of this Code section. (h) This Code section shall stand repealed and reserved on December 31, 2031.

  amended

Action History

1. June 23, 2026

   House Lost Reconsidered Bill/Resolution

2. June 23, 2026

   House Reconsidered

3. June 23, 2026

   House Third Reading Lost

4. June 23, 2026

   House Third Readers

5. June 23, 2026

   House Committee Favorably Reported

6. June 22, 2026

   House Second Readers

7. June 20, 2026

   House First Readers

8. June 18, 2026

   House Hopper

Sponsors

• Jaclyn Ford · Primary
• Angie O'Steen · Cosponsor

Votes

Subjects