06 LC
18 5055/AP
House
Bill 1182 (AS PASSED HOUSE AND SENATE)
By:
Representatives Burkhalter of the
50th,
Richardson of the
19th,
Keen of the
179th,
Fleming of the
117th,
Smith of the
129th,
and others
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 48-8-3 of the Official Code of Georgia Annotated, relating to
exemptions from sales and use tax, so as to provide for an exemption for a
limited period of time with respect to certain eligible hall of fame
attractions; to provide for procedures, conditions, and limitations; to provide
for powers, duties, and authority of the state revenue commissioner; to provide
an effective date; to repeal conflicting laws; and for other
purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Code
Section 48-8-3 of the Official Code of Georgia Annotated, relating to exemptions
from sales and use tax, is amended by adding a new paragraph immediately
following paragraph (80), to be designated paragraph (80.1), to read as
follows:
"(80.1)(A)
Notwithstanding any provision of Code Section 48-8-63 to the contrary, from the
effective date of this paragraph until December 31, 2008, sales of tangible
personal property to, or used in the new construction of, an eligible hall of
fame.
(B)
As used in this paragraph, the term 'eligible hall of fame' means any tourist
attraction facility owned and operated by an organization which is exempt from
taxation under Section 501(c)(3) of the Internal Revenue Code and constructed on
or after the effective date of this paragraph dedicated to the sport of stock
car auto racing which costs exceed $80 million, is greater than 85,000 square
feet of space, and has associated facilities, including, but not limited to,
parking decks and landscaping owned by the same owner as the eligible hall of
fame.
(C)
Any person making a sale of tangible personal property for the purpose specified
in this paragraph shall collect the tax imposed on this sale unless the
purchaser furnishes such person with an exemption determination letter issued by
the commissioner certifying that the purchaser is entitled to purchase the
tangible personal property without paying the tax.
(D)
The commissioner is authorized to promulgate rules and regulations deemed
necessary in order to administer and effectuate this
paragraph."
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.