06 LC 21
8654
House
Bill 1123
By:
Representatives Lane of the
167th,
Keen of the
179th,
Stephens of the
164th,
Hill of the
180th,
and Carter of the
159th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 12-5-287 of the Official Code of Georgia Annotated, relating
to leasing of state owned marshland or water bottoms, so as to change the fee
for the lease of marshlands or water bottoms; to repeal conflicting laws; and
for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Code
Section 12-5-287 of the Official Code of Georgia Annotated, relating to leasing
of state owned marshland or water bottoms, is amended by striking in its
entirety subsection (d) and inserting in lieu thereof the
following:
∀(d)
Each lease granted under this Code section shall be upon such provisions,
requirements, and conditions as the committee shall make and shall, except as
provided in subsections (g) and (h) of this Code section, provide for a primary
term of not more than ten years. Each lease, except as provided in subsections
(g) and (h) of this Code section, shall require the payment of an annual rental
fee set by
the committee which shall be not less than the fair market rental value of the
state owned marshland or water bottoms leased
thereby
of $1.00 per
year and may provide for two renewal
terms, each
of which shall not be for a term of more than equal duration to the primary
term. Rental fees shall be paid
in one
installment to the department not later
than July 15 of each year.
A penalty
of 10 percent of the annual rental shall be assessed for late
payment. Failure to pay rental by August
1 of the year due shall result in the cancellation of the
lease.∀
SECTION
2.
All
laws and parts of laws in conflict with this Act are repealed.