First Reader Summary

A BILL to be entitled an Act to amend Part 1 of Article 2 of Chapter 5 of Title 48 of the Official Code of Georgia Annotated, relating to tax exemptions, so as to increase the amount of the state-wide homestead exemption from all ad valorem taxation for state, county, and school purposes from $2,000.00 to $20,000.00; to specify the terms and conditions of the exemption and the procedures relating thereto; to provide for applicability; to provide for a referendum; to provide for automatic repeal under certain circumstances; to provide for effective dates; to repeal conflicting laws; and for other purposes.