05 LC
14 9185
House
Bill 825
By:
Representatives Manning of the
32nd,
Parsons of the
42nd,
Tumlin of the
38th,
Jones of the
44th,
and Johnson of the
37th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Part 2 of Article 3 of Chapter 8 of Title 48 of the Official Code of
Georgia Annotated, relating to local option sales taxation for educational
purposes, so as to further define what constitutes a capital outlay expenditure
eligible for funding through such tax; to provide for related matters; 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.
Part
2 of Article 3 of Chapter 8 of Title 48 of the Official Code of Georgia
Annotated, relating to local option sales taxation for educational purposes, is
amended by adding at its end a new Code Section 48-8-144 to read as
follows:
"48-8-144.
For
purposes of determining capital outlay expenditures which are eligible for
funding through the sales tax for educational purposes, equipment with an
expected useful life of seven years or more shall be considered a capital outlay
item and equipment with a shorter expected useful life shall not be considered a
capital outlay
item."
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laws and parts of laws in conflict with this Act are repealed.