06 LC 18
4919/AP
House
Bill 1040 (AS PASSED HOUSE AND SENATE)
By:
Representatives Williams of the
4th,
Dickson of the
6th,
and Forster of the
3rd
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 48-8-39 of the Official Code of Georgia Annotated, relating
to the effect of use other than retention, demonstration, or display by the
giver of certain certification or by the processor, manufacturer, or converter
of tangible personal property, so as to define the total raw material cost of
carpet samples for certain fair market valuation purposes; to provide for an
effective date; to repeal conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Code
Section 48-8-39 of the Official Code of Georgia Annotated, relating to the
effect of use other than retention, demonstration, or display by the giver of
certain certification or by the processor, manufacturer, or converter of
tangible personal property, is amended by striking subparagraph (b)(1)(B) and
inserting in its place a new subparagraph (b)(1)(B) to read as
follows:
"(B)(i)
As used in this subparagraph, the term 'total raw material cost' means the
manufactured cost of carpet samples; supplies used in the manufacturing of
carpet samples such as binding, grommets, and similar items; carpet sample
display devices such as racks, binders, and similar items; and inbound freight
charges. Such term does not mean or include labor or overhead for assembling or
producing samples from finished carpet and does not mean or include outbound
freight charges which may be charged to the expense account for carpet
samples.
(ii)
For purposes of subparagraph (A) of this paragraph, the fair market value of any
carpet sample shall be equal to 21.9 percent of the total raw material cost of
the sample, except that the fair market value of a sample of carpet that is
manufactured exclusively for commercial use shall be equal to 1 percent of the
total raw material cost of the
sample."
SECTION
2.
This
Act shall become effective upon its approval by the Governor or upon its
becoming law without such approval.
SECTION
3.
All
laws and parts of laws in conflict with this Act are repealed.