05 LC
18 4166S/AP
House
Bill 281 (AS PASSED HOUSE AND SENATE)
By:
Representatives Smith of the
129th,
Loudermilk of the
14th,
Graves of the
12th,
Floyd of the
147th,
and Mosley of the
178th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Chapter 32 of Title 50 of the Official Code of Georgia Annotated, relating
to the Georgia Regional Transportation Authority, so as to provide for a sales
and use tax exemption with respect to property purchased by or used by the
authority; to provide that no provision of Chapter 7 of Title 46 shall apply to
any bus, other motor vehicle, or rapid rail system of the authority which
provides transit services; to provide an effective date; to repeal conflicting
laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Chapter
32 of Title 50 of the Official Code of Georgia Annotated, relating to the
Georgia Regional Transportation Authority, is amended by striking Code Section
50-32-37, relating to tax exemptions applicable to such authority, and inserting
in its place a new Code Section 50-32-37 to read as follows:
"50-32-37.
It
is found, determined, and declared that the creation of this authority and the
carrying out of its corporate purposes is in all respects for the benefit of the
people of the state and that the authority is an institution of purely public
charity and will be performing an essential governmental function in the
exercise of the power conferred upon it by this chapter. For such reasons the
state covenants with the owners from time to time of the bonds, notes, and other
obligations issued under this chapter that the authority shall not be required
to pay any taxes or assessments imposed by the state or any of its counties,
municipal corporations, political subdivisions, or taxing districts upon any
property acquired by the authority or under its jurisdiction, control,
possession, or supervision or leased by it to others, or upon its activities in
the operation or maintenance of any such property or on any income derived by
the authority in the form of fees, recording fees, rentals, charges, purchase
price, installments, or otherwise, and that the bonds, notes, and other
obligations of the authority, their transfer, and the income therefrom shall at
all times be exempt from taxation within the state. The tax exemption provided
in this chapter shall
not
include
any
an
exemption from sales and use tax on property purchased by the authority or for
use by the
authority."
SECTION
2.
Said
chapter is further amended by adding a new Code section immediately following
Code Section 50-32-70, to be designated Code Section 50-32-71, to read as
follows:
"50-32-71.
No
provision of Chapter 7 of Title 46 shall apply to any bus, other motor vehicle,
or rapid rail system of the authority which provides transit
services."
SECTION
3.
This
Act shall become effective upon its approval by the Governor or upon its
becoming law without such approval.
SECTION
4.
All
laws and parts of laws in conflict with this Act are repealed.